Discover 1Q profit drops but beats Wall Street estimate

RIVERWOODS, Ill. (AP) — Discover Financial Services said Tuesday that its profit fell 7 percent in the first three months of the year, as the credit card issuer and lender increased its reserves against potential loan losses and booked higher expenses. Even so, the Riverwoods, Illinois company’s earnings beat Wall Street expectations. Discover said that […]

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Harley-Davidson 1st-quarter results mixed, cuts outlook

MILWAUKEE (AP) — Harley-Davidson’s first-quarter profit edged up, benefiting from a reduced tax rate. But the motorcycle maker’s revenue missed expectations and the company lowered its full-year forecast for motorcycle shipments, citing increased discounting among its rivals. The stock dropped more than 6 percent in premarket trading Tuesday. Harley-Davidson earned $269.9 million, or $1.27 per […]

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Study: Exelon subsidy would cost $1.6 billion over 5 years 
JOHN O’CONNOR, AP Political Writer

SPRINGFIELD, Ill. (AP) — A plan to financially reward Exelon Corp. for producing no-carbon energy and potentially save three Illinois nuclear plants from closure would cost ratepayers $1.6 billion over five years and strain budgets for financially strapped businesses and municipal governments, a study released Tuesday found. Kestler Energy Consulting conducted the review for the […]

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SupplyCore’s $1B in military contracts should aid Rockford

ROCKFORD, Ill. (AP) — A Rockford logistics and supply-chain management firm has won more than $1 billion in work for the U.S. military to take place over the next five years. The Rockford Register-Star reports (http://bit.ly/1Fc4s4z ) SupplyCore’s success could help its president pursue other business endeavors that would benefit Rockford. SupplyCore recently added a […]

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Construction gets under way for Pratt and Chicago Fittings

By Whitney Helm whelm@beloitdailynews.com Two new businesses have broken ground in Beloit’s Gateway Business Park — Pratt Industries and Chicago Fittings. Georgia-based Pratt Industries announced in December it would build a new $52 million corrugated box factory in Beloit. The company changed locations from the corner of Gateway Boulevard and Turtle Town Hall Road near […]

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Gary lures Chicago company across border to create 300 jobs

(AP) — Officials with an Illinois-based industrial shelving company say they’re expanding in Gary, Indiana. Edsal Manufacturing Co. Inc.’s decision announced Thursday at Gary City Hall is expected to create about 300 jobs in the struggling community about 30 miles southeast of Chicago. It also comes while a longtime jobs rivalry between the two states […]

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Outlook better for jobs Unemployment rate improves for Wisconsin

By The Associated Press Wisconsin’s unemployment rate has dropped while Illinois rate held steady in March. The Wisconsin Department of Workforce Development reported Thursday that the unemployment rate dropped from 4.8 percent in February to 4.6 percent in March, its lowest rate since before the Great Recession. Even so, private-sector job creation plunged, with 5,000 […]

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Illinois unemployment holds steady in March at 6 percent

CHICAGO (AP) — The Illinois Department of Employment Security says the state’s unemployment rate held steady in March at 6 percent. The state unemployment rate had fallen in 11 of the previous 12 months. Department Director Jeff Mays said Thursday in the agency’s monthly report that Illinois continues to struggle with sluggish job growth. Still, […]

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Grainger plans to buy back $3 billion of its own shares

(AP) — Power tools seller W.W. Grainger Inc. said Thursday that its board approved spending $3 billion to buy back its own stock over the next three years. The company expects to buy back $1.4 billion in stock this year and $800 million in 2016 and another $800 million im 2017. Grainger will pay for […]

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Gehl Foods employees given hefty bonuses

GERMANTOWN, Wis. (AP) — Many employees of a longtime family-owned business in southeastern Wisconsin say they’re astounded by the generosity of company leaders following a recent sale to a private equity firm. Workers were given a $10,000 gift by the family owners of Gehl Foods in Germantown. The company was sold in recent weeks to […]

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