Beloit among highest in unemployment rates

Beloit started 2015 with an unemployment rate of 7.4 percent, which was among the highest jobless rates in Wisconsin, according to the Wisconsin Department of Workforce Development. Beloit’s jobless rate in January was up from 6.3 percent reported in December, but down from 9.1 percent reported in January of 2014. Beloit’s January rate of 7.4 […]

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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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