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Top News & Analysis Illinois

  • CHICAGO, Oct 4- U.S. holiday sales will increase by 3.6 percent in 2016, more sharply than last year, as a stronger job market and robust household spending have improved consumer sentiment, according to an outlook from the leading retail industry group. The National Retail Federation forecast sales for the last two months of the year at $655.8 billion, excluding...

  • Oct 4- Global commodities trader Cargill Inc reported a 66.4 percent rise in quarterly net profit on Tuesday, helped by lower beef prices due to increased cattle supplies and renewed demand. The privately held company's net income rose to $852 million in the first quarter ended Aug. 31 from $512 million a year earlier. Excluding items, Minnesota- based Cargill's...

  • NEW YORK, Oct 4- U.S. Richmond Federal Reserve President Jeffrey Lacker, who is not a voting member of the Fed's rate-setting committee, on Tuesday said there was a strong case for raising interest rates, arguing that borrowing costs might need to rise significantly to keep inflation under control. "The market is anticipating that it will be revised up for the...

  • Oct 4- Global commodities trader Cargill Inc on Tuesday reported a 66.4 percent rise in net quarterly profit, helped by lower beef prices due to increased cattle supplies and renewed demand. The privately held company said net income rose to $852 million in the first quarter ended August 31 from $512 million a year earlier. Excluding items, the Minnesota- based...

  • *Harvest progress caps 3- day rally in Chicago soybeans. SINGAPORE/ PARIS, Oct 4- Chicago soybean prices eased on Tuesday to break a three-session rally while corn edged down after a 10- week high as an accelerating U.S. harvest shifted attention back towards the prospect of record production. Chicago Board of Trade's most-active soybean contract fell 0.4...

  • *USDA pegged the corn and soybean harvest at 24 percent and 26 percent complete respectively as of Sunday, slightly below analysts' expectations. *The USDA last week pegged U.S. wheat stocks as of Sept. 1 at their highest since 1987, while corn supplies were smaller than expected. *On Monday, the USDA reported increases in export inspections for corn and soybeans...

  • NEW YORK, Oct 3- A decade after JPMorgan Chase& Co said with great fanfare that it would make life easier for customers by putting its cash machines into Duane Reade drug stores in New York City and Walgreens stores in Florida, the big bank is retreating. The new message is the public start of a withdrawal that stems from an agreement the largest U.S. bank by assets made...

  • NEW YORK, Oct 3- A decade after JPMorgan Chase& Co said with great fanfare that it would make life easier for customers by putting its cash machines into Duane Reade drug stores in New York City and Walgreens stores in Florida, the big bank is retreating. The new message is the public start of a withdrawal that stems from an agreement the largest U.S. bank by assets made...

  • Oct 3- Kansas tax collections are $67 million below estimates in the first quarter of fiscal 2017 after falling $45 million under projections for September, the state's revenue department said on Monday. Struggling with a structural imbalance, Kansas has turned to spending cuts and payment delays to patch its budgets, which have been feeling the effects of tax...

  • *Oil rises as non- OPEC producers called for support. NEW YORK, Oct 3- An index of stocks across the world ended flat on Monday while Wall Street dipped, and oil prices rose to a three-month high after Iran's leader called on non- OPEC producers to help support prices. "The feeling is there will be a negotiation lowering that penalty but it's certainly a bit of an overhang...

  • WINNIPEG, Manitoba, Oct 3- U.S. corn futures jumped to a 10-1/ 2 week high on Monday, lifted by trades that simultaneously bought the grain and sold wheat, after last week's report on supplies by the U.S. Department of Agriculture. The USDA on Friday said U.S. wheat stocks as of Sept. 1 were the biggest since 1987, while corn supplies were smaller than expected.

  • Illinois treasurer suspends investment activity with Wells Fargo

    Michael Frerichs, Illinois State Treasurer, shares his take on Wells Fargo and discusses his decision to suspend investment ties with the bank.

  • NEW YORK, Oct 3- An index of stocks across the world dipped on Monday weighed by a decline on Wall Street while oil prices rose to a three-month high after Iran's leader called on non- OPEC oil producers to support the market. The German stock market was closed Monday but Deutsche's U.S.-listed shares were down 1.7 percent at $12.87 after hitting last week $11.185, a...

  • *Iran stresses need for non- OPEC support to output cut. *Brent settles above $50 first time since August. NEW YORK, Oct 3- Oil rose more than 1 percent on Monday, with Brent settling above $50 a barrel the first time since August and U.S. crude hitting three-month highs, after Iran exhorted the need for other oil producers to join OPEC in supporting the market.

  • Bank of America Merrill Lynch was the top underwriter of muni bonds during 2016' s first nine months with 408 deals, totaling nearly $50 billion. So far, California's treasurer and Illinois' governor have suspended the bank from underwriting their states' bonds, while the city of Chicago could take up a two-year ban as soon as this week. New York City's Transitional...

  • WINNIPEG, Manitoba, Oct 3- U.S. corn futures jumped to a 10-1/ 2 week high on Monday, lifted by trades that simultaneously bought the grain and sold wheat, after last week's report on supplies by the U.S. Department of Agriculture. The USDA on Friday said U.S. wheat stocks as of Sept. 1 were the biggest since 1987, while corn supplies were smaller than expected.

  • NEW YORK, Oct 3- Oil prices were up nearly 1 percent on Monday, taking Brent above $50 a barrel and U.S. crude to three-month highs after comments by Iran's leader exhorting the need for other oil producers to join OPEC in supporting the market. "It's kind of a light volume day and we're moving from headline to headline, but still Iran telling Venezuela that all...

  • PARIS/ SINGAPORE, Oct 3- Chicago wheat futures fell on Monday after a strong rise in the previous session while corn hit a one-week high following data showing lower-than-expected U.S. inventories, before paring its gains later. The Chicago Board of Trade's most-active wheat contract gave up 0.6 percent to trade at$ $3.99-3/ 4 a bushel while corn fell 0.2 percent...

  • NEW YORK, Oct 2- The U.S. Supreme Court is set to consider this week a closely watched insider trading case that could limit the ability of prosecutors to pursue such charges against hedge fund managers and other traders. It is the first time in two decades that the Supreme Court has taken up a case involving insider trading, a crime that the U.S. Congress has never...

  • CHICAGO, Sept 30- S&P Global Ratings dropped Illinois' credit rating one notch to BBB on Friday and warned it could fall further absent a long-term solution that deals with the state's chronic structural budget deficit and pension woes. The impasse, along with a $111 billion unfunded pension liability and a growing pile of unpaid bills have pounded Illinois'...