Signed, sealed, delivered: LT Distributing solving Chicago’s receiving dilemma
By Arionne Nettles Package receiving services are in hot demand, something LT Distributing owner Thomas Demme quickly discovered after becoming the first U.S. company to sell lockable parcel delivery boxes, called iBins, designed to thwart thieves. Within a matter of weeks, Demme’s St. Charles, Illinois-based business expanded to include a receiving center that can hold customers’ […]
The most important thing you need to know about the Fed’s October meeting minutes
By Arionne Nettles The minutes of the Federal Reserve’s policy meeting last month made one thing very clear: that the Fed is poised to raise interest rates in December. Minutes released Wednesday from its October meeting showed that a majority of Fed officials were nearly ready to vote for an increase in the federal funds […]
Twitter’s loss narrows in the third quarter, Wall Street Skeptical
By Arionne Nettles Twitter’s loss narrowed in the third quarter on improving ad revenue, but Wall Street was skeptical the improvement could last. The San Francisco-based social media company posted a net loss of $131.7 million, or 20 cents per diluted share for the fiscal quarter ended Sept. 30, an improvement from the $175.5 million […]
Third CEO in two months for United Airlines
By Arionne Nettles United Airlines has its third leader in less than two months, but analysts are still positive about the company’s financial outlook. United CEO Oscar Munoz suffered a heart attack Oct. 15, after just a month in his new position. Former CEO Jeff Smisek resigned in September amid a federal corruption investigation, causing […]
Boeing Surprises Wall Street with Better-Than-Expected Earnings
By Arionne Nettles Boeing Co. posted a better-than-expected 25 percent increase in third quarter earnings as improvements in production led to a jump in commercial airplane deliveries. The Chicago-based aerospace company posted net earnings of $1.70 billion, or $2.47 per diluted share for the fiscal quarter ended Sept. 30, up from $1.36 billion, or $1.86 […]
Consumer inflation fell in September, Hurting Social Security Benefits
By Arionne Nettles A big drop in energy prices pushed overall consumer inflation down 0.2 percent in September, following a 0.1 percent decline in August. That put the year-over-year change of the consumer price index at zero, which means Social Security recipients will not get an inflation-based increase in benefits in 2016.
CSX Posts Positive Earnings Despite Volume Challenges
By Arionne Nettles Rail transportation company CSX Corp. posted slightly better-than-expected quarterly earnings as cost-cutting more than offset falling sales. Net income at the second-largest U.S. railroad fell 0.4 percent to $507 million for the fiscal quarter ended Sept. 30, from $509 million in the year-ago period.
Citywide Taxi 24-hour Strike Scheduled for Thursday
By Arionne Nettles Chicago taxi drivers are fed up with the city’s limited ride-sharing regulations and are gearing up for a 24-hour strike. The United Taxidrivers Community Council is leading “Day Without a Cabdriver” — a protest against Mayor Rahm Emanuel’s budget plan that would give ride-sharing companies, like Uber and Lyft, access to airport […]
U.S. Trade Balance Widens in August
By Arionne Nettles The U.S. trade deficit rose sharply to $48.33 billion in August as the impact from the strong dollar and weakening global economy dampened exports. The Commerce Department reported an August trade balance of $48.33 billion, up 15.5 percent from a revised $41.86 billion in July. August exports fell $3.7 billion to $185.1 […]
