The dollar surged on Wednesday to its highest level against the Japanese yen in September after the Bank of Japan unexpectedly moved to weaken the yen.
Filed under: Policy
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Agency OKs $314 million bonds for Navistar, others
The Illinois Finance Authority approved up to $314 million of tax-exempt revenue bonds on Tuesday for truck maker Navistar International Corp and others.
Navistar won final approval for $145 million of Recovery Zone Facility Revenue Bonds to help fund its new headquarters and research and development facility in Lisle, Illinois, and a warehouse in Joliet, Illinois.
To issue the bonds, Navistar must get allocations of the federal Recovery Zone Facility Bond volume cap from other Illinois counties and cities, according to the authority. Get the full story »
Boeing rejects bid to tie WTO case to Airbus’
The Boeing Co. rejected suggestions Tuesday that an imminent ruling by the world’s top trade court on allegations that the Chicago plane maker received billions in illegal subsidies should be tied to a similar case against its biggest rival Airbus.
The European company claims Boeing’s case before the World Trade Organization is key to resolving a wider dispute over government aid to aircraft manufacturers. Airbus was found by the Geneva tribunal to have gained an unfair advantage through billions in low-interest loans, infrastructure provisions and research and development grants. Get the full story »
Sep. 9, 2010 at 5:29 p.m.
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Filed under: Computers, Defense, Policy, Politics, Privacy issues Cybercrime bill on list for passage this year
Capitol Hill staffers have made progress stitching together cybersecurity proposals into a huge bill, aides said, with Senate leadership putting it on their short list for passage this year. Get the full story »
Sep. 8, 2010 at 4:25 p.m.
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Filed under: Airlines, Airplanes, Airports, Banking, Policy, Politics City council gives final approval to O’Hare bonds
The Chicago City Council gave final approval on Wednesday to $1 billion of revenue bonds to continue expanding O’Hare International Airport.
But the two major carriers at the airport are not saying if they plan on fighting the debt sale.
A spokesman for American Airlines said there was “no comment at this time.” Get the full story »
Sep. 1, 2010 at 5:46 p.m.
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Filed under: Consumer news, Health care, Pharmaceuticals, Policy Abbott’s diet drug raises risk of heart attack, stroke
The prescription diet drug sibutramine, sold under the brand name Meridia, should be taken off the market because it raises the risk of heart attacks and strokes in some patients, the editor of the New England Journal of Medicine said Wednesday.
Those risks, published in January on a government clinical-trials website and now in full in the journal, outweigh the modest benefits of the medication, said Dr. Gregory D. Curfman, the journal’s executive editor and lead author of an editorial that accompanied the study. Get the full story »
Abbott says FDA approves hepatitis B test
Abbott Laboratories said Wednesday the Food and Drug Administration cleared the company’s new hepatitis B test. The FDA approved the Abbott RealTime HBV test, which measures the amount of hepatitis B virus in a patient’s blood.
Aug. 31, 2010 at 5:29 p.m.
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Filed under: China, International, Policy, Politics, Tourism, Trade, Travel Daley, business leaders going to China, South Korea
Mayor Richard Daley will travel to China and South Korea next month to promote Chicago as a destination for businesses and tourists.
The Sept. 18-24 trip will be sponsored by the Chicagoland Chamber of Commerce and World Business Chicago. The mayor will make stops in Shanghai, China, and in the cities of Busan and Seoul in South Korea.
Aug. 27, 2010 at 4:21 p.m.
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Filed under: Bank failures, Banking, Economy, Investing, Policy Fed gets 60-day delay on bailout disclosure
A U.S. appeals court granted the Federal Reserve a 60-day delay in implementing a ruling to force the central bank to reveal details of its emergency lending programs to banks during the financial crisis. Get the full story »
Bernanke: Fed will act if economy falters
Federal Reserve Chairman Ben Bernanke said Friday that the Fed will consider making another large-scale purchase of securities if the slowing economy were to deteriorate significantly and signs of deflation were to flare.
Daley weighs privatizing Taste of Chicago, recycling
Mayor Daley announced today that the city will look into privatizing the city’s recycling program and lakefront festivals — potentially including Taste of Chicago — to close a $655 million budget hole.
