New home sales drop in December
By Sarah Foster Medill Reports Americans purchased fewer homes than expected last month, but economists are still pointing to 2017 as a healthy year for the housing market. December sales of newly built single-family homes plunged 9.3 percent to a seasonally adjusted rate of 625,000, the sharpest decline since August 2016, according to a report […]
U.S. Jobless Claims Point to a Healthy Labor Market
By Minghe Hu Medill Reports The number of Americans filing for initial unemployment insurance benefits, seasonally adjusted, increased to 233,000 in the week ended Jan. 20 from the revised 216,000 in the prior week, according to the Labor Department. The four-week moving average of initial claims, a better indication of the recent trend, fell 3,500 […]
Cabot Microelectronics reports strong operating results but net loss due to tax charge
By Alexa Adler Medill Reports Despite record quarterly revenue and strong operating results, Cabot Microelectronics Corp., which supplies planarization polishing slurries and pads used in the manufacture of semiconductor devices, reported a loss of 12 cents per share for its first quarter ended Dec. 31, 2017, compared with earnings per share of 88 cents in […]
Caterpillar Reports Strong 4th Quarter Results
By Brian Baker Medill Reports Caterpillar Inc. reported strong quarterly earnings driven by improving end markets, particularly in North America, where demand for construction equipment and onshore oil and gas equipment boosted results that outpaced analyst estimates. The Deerfield, Ill.-based manufacturing giant reported adjusted earnings per share of $2.16 for the quarter ended Dec. 31 […]
Democratic candidates trade digs at the first televised Illinois gubernatorial forum
By Elizabeth Beyer Democratic candidates with an eye on winning Gov. Bruce Rauner’s title took fire at each other Tuesday night for the first televised debate of the gubernatorial race. The debate signaled a growing rivalry between candidates that include billionaire financier J. B. Pritzker, State Senator Daniel Biss and businessman Chris Kennedy as the […]
Abbott Laboratories fourth quarter performance beats predictions
By Juliette Rocheleau Medill Reports Shares of Abbott Laboratories (NYSE: ABT), an Illinois-based broad range healthcare company, rose 3 percent after the company reported adjusted earnings that slightly exceeded analysts’ expectations in the fourth quarter ended Dec. 31. On a GAAP basis, Abbott reported a net loss of $828 million, or 48 cents per share, […]
Frosty Faustings’ 10th anniversary celebrates Chicago’s esports community
By Jourdan Kerl Medill Reports The first bell sounded, launching furious fighters into battle. “Round one. Fight!” Mission: to defeat the opponent, to climb through the brackets and win a new championship title in Chicago-area esports.
Candidates canvass for votes for open seat in Illinois 4th District House race
By Xinyi (Ethel) Jiang Medill Reports On a chilly Martin Luther King, Jr. holiday, Delia Ramirez trudges through the snow, knocking on doors. She is introducing herself to voters in the Illinois 4th state house district in Chicago. The Illinois 4th is a heavily Latino district, stretching from West Town through Humboldt Park in Chicago. […]
Carpentersville’s Cinderella skater readies for Winter Olympics
By Erik Alcantar Medill Reports Olympic figure skater Bradie Tennell of Carpentersville could have easily decided to move her training to any number of facilities, including the U.S. Olympic Training Center in Colorado Springs with fellow Team USA figure skater Mirai Nagasu. Instead, she chose to stay home to prepare for Pyeongchang Games.
Young business owners aim to reshape Chinatown
By Tiffany Chen Medill Reports Young entrepreneurs are introducing new hotels and big chains like Starbucks in Chicago’s Chinatown. And they’re taking over family businesses. These new ventures are remodeling storefronts and embracing phone apps to draw a new crowd to the neighborhood. “It’s all part of an image you want to create for the […]
