Wisconsin unemployment rate drops to 5 percent

MADISON, Wis. (AP) — Wisconsin’s unemployment rate has dropped to 5 percent, its lowest point since before the recession. The state Department of Workforce Development reported Thursday that the unemployment rate dropped from 5.2 percent in December to 5 percent in January. Private-sector job creation was basically flat over the period, with just 300 new […]

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Southeastern Container to close Effingham bottle factory

EFFINGHAM, Ill. (AP) — Owners of a plastic soft drink bottle plant in Effingham say they plan to close the factory later this year or early next year. The Effingham Daily News reports (http://bit.ly/1M5oNba ) that Southeastern Container said in a Tuesday news release that other factories will provide bottles and demand for bottle produced […]

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Navistar reports 1Q loss

LISLE, Ill. (AP) — Navistar International Corp. (NAV) on Tuesday reported a loss of $42 million in its fiscal first quarter. The Lisle, Illinois-based company said it had a loss of 52 cents per share. Losses, adjusted for one-time gains and costs, came to $1.10 per share. The results exceeded Wall Street expectations. The average […]

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Joy Global’s 1Q disappoints, cuts full-year outlook

MILWAUKEE (AP) — Joy Global Inc. said Thursday that its fiscal first-quarter net income fell nearly 52 percent from a year ago as the company’s customers bought less of its mining equipment. The company also cut its outlook for the year. Its shares fell almost 5 percent in afternoon trading. Customers are spending less on […]

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Ashley Furniture drops pursuit of $6 million tax credit

MADISON, Wis. (AP) — A furniture company has decided against pursuing a $6 million tax credit from the Wisconsin Economic Development Corp. The job-creation agency’s board approved the tax break last year with terms that would have allowed Arcadia-based Ashley Furniture to cut its Wisconsin workforce in half. The company would have donated the money […]

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AbbVie to buy leukemia drugmaker Pharmacyclics for $21B

AbbVie will spend about $21 billion to buy leukemia drugmaker Pharmacyclics in its first major deal attempt since walking away from a $55 billion takeover of Shire last fall. The North Chicago, Illinois, company said late Wednesday that it will pay $261.25 a share for Pharmacyclics, which makes Imbruvica, a drug approved to treat three […]

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S. Beloit dealership keeps it in the family

By Whitney Helm whelm@beloitdailynews.com The saying goes “if you do what you love, you’ll never work a day in your life.” That’s what Bowar and Son’s Auto dealership owner Deb Bowar discovered after 14 years in real estate. “I was looking for a change,” she said. “I didn’t want to work for anybody anymore.” After […]

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RockTenn celebrates 15 years of no lost-time accidents

hgavan@beloitdailynews.com Employees at RockTenn Beloit keep a watch out for each other, and it shows. The sheet plant at 2350 Springbrook Court celebrated 15 years, with no lost-time accidents on Wednesday. Employees celebrated by having a lunch catered by Famous Dave’s. They received gift bags filled with safety items such as first aid kits and […]

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Farm equipment maker Deere foresees sharp sales drop

MOLINE, Ill. (AP) — The chairman and CEO of Deere & Co. says the agricultural equipment maker is preparing for the largest single-year sales drop in its 178-year history. The (Moline) Dispatch (http://bit.ly/18peQJ8 ) reports Sam Allen talked about Deere’s 2015 outlook at the annual stockholders meeting Wednesday. Sales are forecast to fall 17 percent […]

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AllScripts reports 4Q loss

CHICAGO (AP) — Allscripts Healthcare Solutions Inc. (MDRX) on Thursday reported a loss of $2.2 million in its fourth quarter. The Chicago-based company said it had a loss of 1 cent per share. Earnings, adjusted for one-time gains and costs, were 9 cents per share. The results did not meet Wall Street expectations. The average […]

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