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  • Proposed Illinois legislation would ban powdered alcohol Saturday, 24 Jan 2015 | 10:30 AM ET

    SPRINGFIELD, Ill.— A proposed Illinois law would ban the sale of powdered alcohol before it hits store shelves. Ira Silverstein, a Chicago Democrat sponsoring the measure, said he doesn't want the product to reach stores. His plan amends the state's Liquor Control Act of 1934, according to the Springfield bureau of Lee Enterprises Newspapers.

  • US regulators close small Chicago bank Friday, 23 Jan 2015 | 7:31 PM ET

    The Federal Deposit Insurance Corp. said Friday that it has taken over Highland Community Bank, which operated two branches. United Fidelity Bank, based in Evansville, Indiana, agreed to assume all of Highland Community Bank's deposits and to buy essentially of the failed bank's assets. The failure of Highland Community Bank is expected to cost the federal...

  • KANSAS CITY, Mo.— Twenty-eight oil companies and retailers have agreed to settle litigation claiming customers were knowingly overcharged when gas station fuel temperatures rose, plaintiffs announced Friday. Federal officials earlier consolidated about 50 lawsuits filed since 2006 from consumers across the country in the U.S. District Court in Kansas...

  • OPEC announced last November it would keep output steady at 30 million barrels a day, despite pleas from some members for it to cut output to support prices and revenues. Stuart Glickman, an equity analyst at S&P Capital IQ, said there was no indication OPEC would cut production soon. "It's a calculated bet that the shale producers in the U.S. can't withstand the pain...

  • *Partial shutdown of Indiana refinery pressures US crude. NEW YORK, Jan 23- Brent crude rose on Friday on uncertainty over Saudi oil output following the death of King Abdullah, while U.S. crude prices fell, with traders citing a reported build at the Cushing, Oklahoma storage hub and the partial shutdown of an Indiana refinery. Still, the transition should be...

  • *Saudi-led OPEC focus to remain, safeguarding market share. NEW YORK, Jan 23- U.S. crude fell modestly on Friday while global Brent gained support from market uncertainty over the future of Saudi oil production following King Abdullah bin Abdulaziz's death. Brent was up 30 cents at $48.82 by 11:20 a.m. EST, while U.S. crude fell 21 cents to $46.10.

  • Horizon Bancorp posts 4Q profit Thursday, 22 Jan 2015 | 3:31 PM ET

    MICHIGAN CITY, Ind. _ Horizon Bancorp on Thursday reported fourth-quarter earnings of $4.9 million. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 55 cents per share. Horizon Bancorp shares have decreased nearly 5 percent since the beginning of the year.

  • Senate panel passes energy-efficiency utility bill Thursday, 22 Jan 2015 | 3:12 PM ET

    INDIANAPOLIS— Major utility companies would be able to develop their own energy-efficiency programs and charge customers to implement them under a bill that cleared a state Senate committee Thursday, but the panel's chairman said the bill still needs a lot of work. "Energizing Indiana was good in the beginning," said committee chairman Sen.

  • Kellow named next CEO of coal-mining Peabody Energy Thursday, 22 Jan 2015 | 1:51 PM ET

    ST. LOUIS— Coal-mining Peabody Energy Corp. soon will have a new chief executive. The St. Louis- based company announced Thursday that Peabody's chief operating officer, Glenn Kellow, will succeed CEO Greg Boyce on May 4. Its U.S. operations include mines in Wyoming, Colorado, Arizona, New Mexico, Illinois, and Indiana.

  • "It is unclear at this point whether or not this move up in the trend reflects issues seasonally adjusting the data around the holidays or if it represents a more meaningful deterioration in the labor market," said Daniel Silver, an economist at JP Morgan in New York. State-level data for the week ending Jan. 10 showed an increase in claims in the oil-producing...

  • The Brookings Institution and JPMorgan Chase ranked 300 major cities worldwide for economic performance last year.

  • WASHINGTON, Jan 21- Most U.S. states expect to hit their revenue targets this fiscal year, but at least six states say they could fall short, the National Conference of State Legislatures said on Wednesday. Alaska, Arizona, Kentucky, Massachusetts, Michigan, and Vermont all expect to miss their revenue forecasts, according to the report. New Mexico and Indiana are...

  • 1st Source posts 4Q profit Wednesday, 21 Jan 2015 | 5:15 PM ET

    SOUTH BEND, Ind. _ 1st Source Corp. on Wednesday reported fourth-quarter earnings of $15 million. 1st Source shares have decreased nearly 10 percent since the beginning of the year. Keywords: 1st Source, Earnings Report.

  • NEW YORK— Except for CBS, the broadcast networks mostly closed up shop last week. At least, that's the suggestion from Nielsen, which says the average prime-time audience for CBS matched the total viewership for ABC, Fox and NBC. Meanwhile, CBS logged a dozen of the week's Top 20 shows and Fox scored three, effectively shutting out ABC and NBC.

  • Former executive gets prison in insider trading case Wednesday, 21 Jan 2015 | 1:06 PM ET

    NEW YORK— A former executive at a Manhattan investor firm was sentenced to 2½ years in prison Wednesday by a judge who criticized his explanation that he turned to crime because he thought his bosses cheated him. District Judge Jesse M. Furman said incarceration was "absolutely necessary" for Michael Lucarelli, 52, who pleaded guilty in September to a...

  • INDIANAPOLIS— Indiana is close to allowing a trapping season for river otters, a furry species that's flourished since it was reintroduced to the state in the 1990 s but has become a nuisance in some areas. Indiana's Natural Resources Commission approved rules Tuesday that will allow for a limited river otter trapping season, and permit trappers to sell both...

  • Jan 20- Johnson& Johnson surprised investors by detailing the degree to which a strong dollar will hurt sales abroad this year, and industry watchers say Wall Street is underestimating the likely hit to other U.S.-based rivals such as Pfizer Inc and Merck& Co.. He predicted the stronger dollar will take a bigger bite out of other drugmakers' earnings than many...

  • CINCINNATI— The Cincinnati company behind dozens of Frisch's Big Boy restaurants alleges a former assistant treasurer stole an estimated $3.3 million in a multiyear embezzlement scheme. Frisch's Restaurants Inc. accuses Michael Hudson of manipulating accounting records and forging payroll documents to funnel money to himself, his relatives, a...

  • The Republican governor, weeks into his second four-year term, said in his fifth State of the State address that he will issue an executive order merging the Community Health and Human Services agencies into a new Department of Health and Human Services. "The system is failing folks," he said during a joint night session of the Legislature inside the House chamber.

  • Illinois community college to offer degree in fracking Thursday, 15 Jan 2015 | 9:41 AM ET

    Illinois signed off on long-awaited rules to govern the high-volume oil and gas drilling process within its borders last year, and Lincoln Trail College President Kathryn Harris said state officials have approved the school's petition to start offering the associate's degree. She told WTHI-TV that Lincoln Trail College offered oil education programs...