Business

BUSINESS



Uber Revenue Up 72% 

By John McPhaul, The Chicago Times November 16, 2022 SAN FRANCISCO – Uber Technologies, Inc revenues climbed 72% in the third quarter report. On Tuesday, Uber reported $8.3 billion in revenue for the three months ending in September, a 72% increase from the prior year.  Despite economic woes of inflationContinue reading “Uber Revenue Up 72% “

Ford To Leave Russia

By Brooks M. Deering, The Chicago Times October 27, 2022 DEARBORN, MI – Ford Motor Company announced Wednesday that it will exit Russia in response to the prolonged Russian invasion of Ukraine. Ford representatives said a deal has been finalized to sell its 49% stake in the Russian based SollersContinue reading “Ford To Leave Russia”

French Government Orders Striking Fuel Refinery Employees To End Strike

By Willard W. Hughes, The Chicago Times October 12, 2022 PARIS – The French government announced it will order striking refinery workers back to work after fuel shortages threaten France’s national security. Union workers at an ExxonMobil Esso France fuel depot have been on strike for weeks which has ledContinue reading “French Government Orders Striking Fuel Refinery Employees To End Strike”

Northrop Grumman: Delivers Over 100,000 Artillery Guidance Kits To US Army

By John McPhaul, The Chicago Times September 29, 2022 FALLS CHURCH, VA — Northrop Grumman Corporation announced Wednesday the delivery of more than 100,000 Precision Guidance Kits for 155mm artillery projectiles to the U.S. Army.  The PGK replaces standard fusing for conventional projectiles currently in inventory. “PGK’s precision provides aContinue reading Northrop Grumman: Delivers Over 100,000 Artillery Guidance Kits To US Army

Intelligentsia Coffee To Unionize; Patrons Can Expect To Pay More 

By Al Brown, The Chicago Times August 9, 2022 CHICAGO – Five of Intelligentsia Coffee’s cafes in Chicago have voted to join a union, making Intelligentsia the third coffee house to go union.  Consumers can expect price hikes as Intelligentsia looks to offset union costs. According to the International BrotherhoodContinue reading “Intelligentsia Coffee To Unionize; Patrons Can Expect To Pay More “

Recession Feared: GDP Falls 0.9% In The Second Quarter 

By Willard W. White, The Chicago Times WASHINGTON – The US economy shrank for the second consecutive quarter moving the economy into a technical recession as inflation and higher interest rates restrain consumers and industry. Gross domestic product, the broadest measure of goods and services produced throughout the economy, fellContinue reading “Recession Feared: GDP Falls 0.9% In The Second Quarter “

Newmont Agrees To Profit Sharing Agreement with Peñasquito Union

By Brooks M. Deering, The Chicago Times July 5, 2022 DENVER — Newmont Corporation agreed to a profit-sharing agreement with unionized workers at the Company’s Peñasquito mine in Zacatecas, Mexico. The gold mining giant announce the agreement Tuesday in which its subsidiary, Newmont Peñasquito, will pay union workers an uncappedContinue reading “Newmont Agrees To Profit Sharing Agreement with Peñasquito Union”

Walgreens To Retain Ownership Of Its Successful Boots Business

By The Chicago Times Business Staff June 29, 2022 DEERFIELD, IL — Walgreens Boots Alliance, Inc. announced Tuesday its decision to keep its Boots and No7 Beauty Company businesses under its existing According to WBA, “. . . productive discussions held with a range of parties, receiving significant interest fromContinue reading “Walgreens To Retain Ownership Of Its Successful Boots Business”

Wheels Falling Off: Toyota Recalls First Production Electric Car and Tundra Series

By Jeff L. Tucker, The Chicago Times June 27, 2022 PLANO, TX – Auto giant Toyota has issued recalls for its first production electric car and Tundra series pickup trucks for problems in which nuts or bolts can become lose causing wheels or axles to disconnect. On Thursday, Toyota MotorContinue reading “Wheels Falling Off: Toyota Recalls First Production Electric Car and Tundra Series”

Texas AG To Investigate Twitter For Possible Deceptive Trade Practices

By Willard Hughes, The Chicago Times June 8, 2022 AUSTIN, TX – Texas Attorney General to launch investigation into Twitter for possible deceptive trade practices as Elon Musk attempts to purchase the social media company. Texas Attorney General Ken Paxton announced that his office is investigating Twitter for potential falseContinue reading “Texas AG To Investigate Twitter For Possible Deceptive Trade Practices”

Delta Air Lines Calls China’s New COVID Sanitation Rules Unreasonable

By John McPhaul, The Chicago Times December 29, 2021 SEATTLE — According to Delta Air Lines, a Delta aircraft from Seattle enroute to Shanghai last week turned around midair due to a change in cleaning requirements at the Shanghai airport. Delta said that if the plane had landed in Shanghai,Continue reading “Delta Air Lines Calls China’s New COVID Sanitation Rules Unreasonable”

ComEd Customers Save $6 Billion Under ComEd Energy Efficiency Program

By The Chicago Times Business Staff December 28, 2021 CHICAGO – On December 20, ComEd announced that customers saved more than $6 billion on energy costs as a consequence of the company’s energy efficiency initiative, which began in 2008. The ComEd Energy Efficiency Program is one of the largest inContinue reading “ComEd Customers Save $6 Billion Under ComEd Energy Efficiency Program”

Northrop Grumman Global Hawk Increases Participation In SkyRange Program

by Al Brown, The Chicago Times December 16, 2021 SAN DIEGO — Northrop Grumman Corporation announced on December 13 that it will assist the Department of Defense Test Resource Management Center (TRMC) in starting engineering and planning work to reconfigure four US Air Force EQ-4 Block 20 Global Hawk aircraftContinue reading “Northrop Grumman Global Hawk Increases Participation In SkyRange Program”

Evergrande Defaults On Debt?

by The Chicago Times Business Staff December 9, 2021 HONG KONG — According to Fitch Ratings, Evergrande, the troubled Chinese property developer, has defaulted on its loans. The corporation and its subsidiaries were downgraded to “limited default” by the credit ratings agency on Thursday, indicating that the company has failedContinue reading “Evergrande Defaults On Debt?”

Microsoft: Nadella Dumps More Than $285 Million Shares Of Microsoft

by The Chicago Times Business Staff December 1, 2021 REDMOND, WA — Microsoft Chairman and CEO Satya Nadella has sold more than half of his investment in the software giant. According to a statement with the Securities and Exchange Commission, Nadella sold almost 840,000 shares of Microsoft right before Thanksgiving,Continue reading “Microsoft: Nadella Dumps More Than $285 Million Shares Of Microsoft”

Boeing Awarded Contract To Deliver Additional Chinook Helicopters to U.S. Military

by The Chicago Times Business Staff November 28, 2021 CHICAGO — Boeing announced on November 24th that it has been awarded a $246.48 million contract to build six more MH-47G Block II Chinooks for the U.S. Army Special Operations Aviation Command. According to Boeing, the delivery of these aircraft isContinue reading “Boeing Awarded Contract To Deliver Additional Chinook Helicopters to U.S. Military”

Kellogg Company To Reopen Contract Talks With Striking Workers

by Sloan T. Wilson, The Chicago Times November 22, 2021 BATTLE CREEK, MI — This week, the cereal giant Kellogg Company will reopen contract negotiations with its 1,400 cereal plant workers, who have been on strike since October 5. Negotiations with the Bakery, Confectionery, Tobacco Workers, and Grain Millers InternationalContinue reading “Kellogg Company To Reopen Contract Talks With Striking Workers”

Waukegan Casino License Stalled Due To Allegations Of Insider Dealings

by John McPhaul, The Chicago Times November 19, 2019 WAUKEGAN, IL — The Illinois Gaming Board was expected to name the winner of the north suburban gambling license on Thursday, but the board deferred action due to an ongoing lawsuit that claims Waukegan officials “rigged” their selection process to favorContinue reading “Waukegan Casino License Stalled Due To Allegations Of Insider Dealings”

Pfizer CFO To Retire

by Sloan T. Wilson, The Chicago Times November 17, 2021 NEW YORK — Pfizer Inc announced on Wednesday that Chief Financial Officer Frank D’Amelio, 63, would leave the company after nearly 15 years. The pharmaceutical company has begun an external search for D’Amelio’s replacement, who also served as executive viceContinue reading “Pfizer CFO To Retire”