Fortune Brands buying Norcraft for about $600 million

NEW YORK (AP) — Home and security products company Fortune Brands Home & Security Inc. will buy the cabinet maker Norcraft Companies Inc. for about $600 million. Deerfield, Illinois-based Fortune Brands will pay $25.50 per share, marking a 14.7 percent premium to Eagan, Minnesota-based Norcraft’s closing price on Friday. The deal will help Fortune Brands […]

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Jobless rates fall in all Illinois metro areas

CHICAGO (AP) — The Illinois Department of Employment Security says unemployment fell in every Illinois metro area in February. It was the 12th straight month of across-the-board improvement. The department said Tuesday in its monthly report on the state’s metro areas that while nine of the 14 tracked areas added jobs in February, the Peoria, […]

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Morgan Stanley cuts estimate of US online bet market in half 


(AP) — Morgan Stanley has cut its estimate of the potential U.S. Internet gambling market by nearly half. The firm now estimates the nationwide online betting market at $2.7 billion by 2020, down from an initial estimate of $5 billion. In a report issue Tuesday, the firm predicts no additional states will approve Internet gambling […]

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Peoria insurance firm to make $15M headquarters addition

PEORIA, Ill. (AP) — The insurance firm RLI Corp. has announced a $15 million addition to its headquarters in Peoria. The Journal Star reports (http://bit.ly/1ExB2yy ) that RLI chairman and CEO Jonathan Michael made the announcement on Monday. He called it the “next phase of renovation” after the company completed a $20 million facelift in […]

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USDA: Record soybean acres expected, corn acres to drop

(AP) — Farmers are expected to plant a record number of soybean acres this year, but fewer acres of corn as profit potential for the grain remains low due to slumping prices, the U.S. Department of Agriculture said Tuesday in its first report of the new crop season. The USDA surveyed 84,000 farmers in March […]

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Unemployment up in all Wisconsin counties, major cities

MADISON, Wis. (AP) — Unemployment rates are up in every Wisconsin county and major city. The state Department of Workforce Development reported the figures for January. The show unemployment increases across the board for the month. The figures are preliminary and subject to significant revision month-to-month. Racine had the highest unemployment rate for the month […]

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Survey finds young adults consume news in their own way 


CHICAGO (AP) — Young adults have a reputation for being connected to one another and disconnected from the news. But a survey has found that mobile devices and social networking are keeping them more engaged with the broader world than previously thought. They want news, they say, though they don’t always aggressively seek it out […]

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Luxury condos to be built along The Beloit Club

Luxury condos to be built along The Beloit Club By Hillary Gavan hgavan@beloitdailynews.com Homes with European-style architecture and situated in the rolling hills along Riverside Drive are coming to Beloit. L2W Developers of Beloit, founded in 2003, will break ground soon on the Country Club Heights property at 2271 Riverside Drive adjacent to The Beloit […]

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Jobless rates fell across Illinois in January

CHICAGO (AP) — The Illinois Department of Employment Security says unemployment dropped in January in each of the 14 metro areas the agency tracks in its monthly report. The department said Tuesday that the biggest improvements came in Danville, Decatur and Rockford. All three historically manufacturing-dependent areas were struggling a year earlier with double-digit unemployment […]

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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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