Abbott Labs to spend $19.3 billion to buy St. Jude Medical

By the Associated Press Abbott Laboratories will spend $19.3 billion to buy St. Jude Medical Inc. in a cash-stock deal that aims to strengthen the medical device maker’s stake in cardiovascular care. Shares of North Chicago, Illinois-based Abbott plunged, while St. Jude soared Thursday morning after the companies announced the deal. The combined company will […]

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ADM maintenance workers reject union representation in vote

DECATUR, Ill. (AP) — Archer Daniels Midland Co. maintenance workers have rejected union representation. The (Decatur) Herald and Review reports (http://bit.ly/1VCgygc ) workers at the BioProducts plant in Decatur voted 32-25 against joining the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union. Rich Burcham is vice president of the union’s Local 103G. He says […]

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Menard Inc. agrees to change policies violating labor laws

MADISON, Wis. (AP) — Menard Inc. has agreed to change some practices after the National Labor Relations Board found it was violating federal labor law. The board found in April that the Eau Claire-based retailer has been improperly requiring employees to sign mandatory-arbitration agreements that bar them from engaging in class-action lawsuits. The board also […]

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Kraft Heinz announces timeline for closing Oscar Mayer

MADISON, Wis. (AP) — Madison’s Oscar Mayer plant is now slated to close by March 2017, ending nearly 100 years as a part of the city. Parent company Kraft Heinz Food Co. announced the impending closure in November, along with the closure of six other plants, as part of a plan to save $1.5 billion […]

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Mondelez 1Q performance beats Street; reaffirms 2016 outlook

DEERFIELD, Ill. (AP) — Mondelez’s first-quarter results beat analysts’ expectations, thanks partly to lower expenses, improved volumes and higher prices. The maker of Oreo cookies, Cadbury chocolate and Trident gum earned $554 million, or 35 cents per share, for the three months ended March 31. A year earlier the Deerfield, Illinois-based company earned $324 million, […]

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Caterpillar adjusted profit meets Street’s view, sales fall

PEORIA, Ill. (AP) — Caterpillar’s first-quarter adjusted profit met Wall Street’s view, even as sales declined across various categories while it continues to deal with soft product demand. The mining and construction equipment company lowered its full-year profit forecast. Shares slipped in morning trading Friday. For the three months ended March 31, Caterpillar earned $271 […]

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Whole Foods plans distribution hub on Chicago’s South Side

CHICAGO (AP) — Whole Foods plans to build a new distribution center in Chicago’s Pullman neighborhood to replace one now located in Munster, Indiana. Chicago Mayor Rahm Emanuel and the upscale grocery chain announced the plans Thursday, citing the Pullman neighborhood’s skilled workforce and proximity to interstate highway routes. Two of the chain’s suppliers — […]

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Catholic hospital system plans to lay off 250 workers

CHICAGO (AP) — Chicago-based Presence Health plans to lay off 250 employees during the next three months in a cost-saving move. The Chicago Tribune reports (http://trib.in/1nRzKrc) the Catholic hospital system also plans to leave vacant 450 jobs expected to open this year through attrition. The hospital network previously reported operating losses for last year of […]

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Caterpillar expects 1Q results to miss analysts’ estimates

NEW YORK (AP) — Caterpillar expects its first-quarter results to come in well below Wall Street’s view as it continues to deal with weak product demand. But the mining and construction equipment maker maintained its full-year forecast, saying in a filing with the Securities and Exchange Commission that it remains “comfortable” with the figures. Shares […]

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GE announces plans for 160 tech jobs in Chicago area

CHICAGO (AP) — GE has announced plans to create 160 Chicago-area jobs focused on digital advancements in transportation and health care. General Electric Co. announced Tuesday the selection of Chicago for the lead office of GE Transportation’s Digital Solutions business, which will employ 100. GE also will create 60 jobs in its digital health care […]

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