business
Macy’s to open store in Gurnee Mills in 2013
Macy’s made a splash Tuesday morning as officials gathered for a ceremonial groundbreaking for their new store at Gurnee Mills, the first time the retail giant is moving into a mall known for a variety of value stores.
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Dow Jones average continues a two-week slide
Europe’s latest political impasse cast a gloom over financial markets Tuesday. The euro plunged, and the Dow Jones industrial average extended a slide that has wiped out nearly 5 percent of its value in two weeks.
Facebook raises IPO price as offering nears
Facebook on Tuesday increased the price range at which it plans to sell stock to the public, as investor enthusiasm in the offering continued to mount and boost the potential value of the world’s most popular social network.
U.S. stock futures fall after last week’s losses
A political stalemate in Greece rattled financial markets worldwide on Monday, driving U.S. stocks lower. The Dow Jones industrial average dropped 125.25 points to close at 12,695.35.
Revolving door: Yahoo ushers out another CEO
Yahoo still has credibility issues, even after casting aside CEO Scott Thompson because his official biography included a college degree that he never received.
2012 college grads enter improving job market
The class of 2012 is leaving college with something that many graduates since the start of the Great Recession have lacked: jobs. To the relief of graduating seniors — and their anxious parents — the outlook is brighter than it has been in four years.
Gold! Haiti hopes ore find will spur mining boom
Its capital is blighted with earthquake rubble. Its countryside is shorn of trees, chopped down for fuel. And yet, Haiti’s land may hold the key to relieving centuries of poverty, disaster and disease: There is gold hidden in its hills — and silver and copper, too.
JPMorgan CEO Dimon: ‘Dead wrong’ about trading concerns
The CEO of JPMorgan Chase, which disclosed a $2 billion loss last week, said he was “dead wrong” when he dismissed concerns about the bank’s trading last month.
Mundelein’s Utopia continues strong growth
Utopia, Inc. started in the basement of a home in Vernon Hills. In nine years, it has become a multi-million-dollar international business whose clients include Fortune 500 companies.
Cheaper gas drives U.S. wholesale price index lower
A big decline in gas and energy costs drove a measure of U.S. wholesale prices lower in April. The Labor Department said Friday that the producer price index, which measures price changes before they reach the consumer, dropped 0.2 percent last month.
Express Scripts says 1Q prescriptions grew after Walgreen split
Shares of Express Scripts are climbing after the pharmacy benefits manager reported prescription growth in its first quarter since splitting with drugstore chain Walgreen.
Fresh Healthy Cafe offers more than sandwiches
A new restaurant is shaking things up at Gurnee Mills with a fresh and healthy menu that includes a huge choice of smoothies, crepes with organic produce, sandwiches, soup, salads and quesadillas.
Grainger April sales up 12 percent
W.W. Grainger Inc., a supplier of power tools and other industrial equipment, said Friday that its daily sales in April rose 12 percent from a year earlier.
Rate on 30-year mortgage hits record 3.83%
Average U.S. rates for 30-year and 15-year fixed mortgages fell to fresh record lows this week. Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan ticked down to 3.83 percent. The 15-year mortgage dropped to 3.05 percent, also a record.
Postal Service loses $3.2B in 2nd quarter
Drowning in red ink, the U.S. Postal Service on Thursday reported a quarterly loss of $3.2 billion and blamed Congress for blocking the agency’s cost-cutting efforts to offset declining mail volume and mounting costs for future retiree health benefits.
With Apple in, Dow would have set record long ago
If Apple had been added to the Dow Jones industrial average in June 2009, the last time there were serious rumors that it would happen, the Dow would be about 2,500 points higher than it is today and well above its all-time high.