Business

McDonald’s Corp. earnings fall

By Alysha Khan

Global fast food giant McDonald’s Corp. ended a year of struggling sales with a 21 percent drop in fourth quarter earnings, missing Wall Street’s expectations, and warned that it may take several months for its new strategies to translate to higher profits. The stock drooped. Continue reading

Despite protest, ICC allows Chicago area gas companies to hike rates

By Bethel Habte

Despite a visible and vocal opposition at a public hearing Wednesday, the Illinois Commerce Commission granted two major area gas companies rate increases after Jan. 28, by a vote of 3 to 1.

After reviewing Peoples Gas’s request to increase natural gas delivery system rates by $129 million, the commission approved a $74.8 million hike. North Shore Gas originally requested a $7.1 million increase, but the commission approved a $3.7 million increase. Continue reading

Initial Jobless Claims Down, Continuing Claims Up

By Lucy Ren

Initial jobless claims for the week ended Jan. 17 declined 10,000 from the previous week’s level, but the four-week moving average increased by 2.2 percent, and continuing claims for the week ended Jan.10 also increased.

The four-week moving average rose by 6,500 to 306,500 for the week ended on Jan.17. Continuing claims increased by 0.6 percent to 2.44 million. Continue reading

Chicago startups aim to make impact on social issues

By Laura Furr

Chicago’s premiere social entrepreneurship program, Impact Engine, on Wednesday unveiled its new crop of startups aimed at resolving issues from student safety to the demand for recycled electricity.

For the third time since 2012, the 16-week accelerator program, partnered with the city’s tech-incubator, 1871, mentored entrepreneurs driven to create social change and a profit at the same time.

Jessica Droste Yagan, the program’s new CEO, said since Impact Engine’s start it has graduated 15 companies, which have earned $2.5 million in revenue.

“Impact investing is a real thing. It has a presence in Chicago,” Yagan told 275 community members and investors who had gathered. “We have really built a sizeable and energizable community.”

Community members and investors at Wednesday’s demo day said they felt this energy.
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Experts cite Ebola’s indirect cost, urge public-private partnerships

By Jin Wu

Chicago health care and economic experts said the indirect cost of Ebola is enormous and partnerships between public and private sectors could be a solution for “the market failures” in Ebola prevention and treatment.

Dozens of people attended a public conversation called “The Cost of Health Crisis” Wednesday night at Chicago’s Harold Washington Library, discussing about the economics of pandemics, in this case, Ebola. Continue reading

Airbus and Boeing have record years despite weak stock

By Ezra Kaplan

After a year of consistently declining stock value, Airbus announced a new company record for planes delivered in 2014. Boeing also broke a company record after delivering nearly 100 more planes than Airbus during the year. Continue reading

Delta’s stock surged after 4th Quarter earnings released

Delta Air Lines Inc.‘s stock shot up 7.26 percent after the release of its fourth-quarter report on Tuesday morning, despite its net income’s swinging down to a loss of $712 million dollars in the December quarter, or 86 cents loss per diluted share, from the year-ago earnings of $9.89 per diluted share.

The adjusted non-GAAP net income, however, was $649 million, or 78 cents per diluted share, beating the consensus forecast of 75 cents, according to Zacks Investment Research.

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Expert panel makes 2015 economic predictions

Story by Meredith Wilson
Audio by Bethel Habte

A panel of economic experts exceeded an already optimistic outlook for 2015 with their predictions on gross domestic product, unemployment and the Dow during the Executives’ Club of Chicago’s Annual Economic Outlook Luncheon on Wednesday.

Diane Swonk, chief economist and senior managing director of Mesirow Financial Services expects U.S. GDP to grow by 3 percent, unemployment to be under 5 percent and the Dow to close at 18,499. Continue reading

VIDEO: Prescient Edge looks ahead to Chicago relocation

By J’nelle Agee

Mayor Rahm Emanuel announced the 30th company to relocate to Chicago since he took office. Prescient Edge, a global security and technology firm, will be moving its headquarters from Virginia to downtown Chicago. But who will get the approximately 60 jobs it will bring to the city?

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VIDEO: Chicago bartenders watching out for you

By Melissa Schenkman

A national study on alcohol use found on an average day six people die from alcohol poisoning.  Illinois ranked the third lowest in the number of deaths.  Angelo Cristobal, a Streeterville bartender talks about how bartenders are trained to do more than serve drinks.   Continue reading