business
US new home sales up 2.3 percent in April
Sales of new homes rose in April to the second-highest level since the summer of 2008 while the median price for a new home hit a record high, further signs that housing is recovering.
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East Dundee’s G.A.T. Guns undergoes major range expansion
EAST DUNDEE — A recent expansion project at G.A.T. Guns has given the facility not only more room but some national bragging rights. Owner Greg Tropino Sr. said the $6.7 million project has made G.A.T. Guns “one of the biggest private indoor ranges in the …
Dover to spin off communications businesses
Equipment maker Dover Corp. said Thursday its board has approved a plan to spin off some of its communication technologies businesses into a new publicly traded company known as Knowles Corp.
Birth control coverage up for federal appeal
In the most prominent challenge of its kind, Hobby Lobby Stores Inc. is asking a federal appeals court Thursday for an exemption from part of the federal health care law that requires it to offer employees health coverage that includes access to the morning-after pill.
Smashburger founder turns to fast-casual pizza
ENGLEWOOD, Colo. — Smashburger’s founder is launching yet another new fast-casual restaurant concept, this time centered on customized, oven-baked pizzas made and served within minutes of ordering.
Ford to end auto production in Australia in 2016
Ford Motor Co. said Thursday it will close its two Australian auto plants, ending production in the country in 2016, amid soaring manufacturing costs and plummeting sales.
Stocks mixed as investors reassess Fed worries
Investors recovered their poise by midday Thursday after an early sell-off sent stocks sharply lower. U.S. markets fell immediately after the opening bell following a global slump prompted in part by an unexpectedly weak report on manufacturing in China.
Tesla uses stock, note sale to repay government $451.8 million
DETROIT (AP) — Tesla Motors, which makes a highly acclaimed $70,000 electric car, has paid off a startup loan from the U.S. government nine years early. The Palo Alto, Calif., company said it wired in a $451.8 million payment to the government on Wednesday.
One less liquor seller in Pingree
PINGREE GROVE — Trustees have reduced the number of liquor licenses available to area businesses after a local restaurant declined to renew its license. The board amended the village’s liquor code with a unanimous vote this week. Village Administrator Ken Lopez said Butler’s Restaurant changed …
Made in the USA back in style for small businesses
When Martin Rawls-Meehan started making adjustable beds in 2004, it was a foregone conclusion that key parts would be made overseas. But this year, his company, Reverie, began making some of its beds entirely in a factory in New York.
The 10 highest-paid CEOs of 2012
It pays to be in TV. On the list of 10-best paid CEOs of 2012 — the exclusive club inside an already-exclusive club — half are in the entertainment and media industry, according to executive pay research firm Equilar.
College fossil-fuel divestment movement builds
Student activists at more than 200 colleges are trying a new tactic in hopes of slowing the pace of climate change: They are asking their schools to stop investing in fossil fuel companies. It is far from certain that the campaign will help change the behavior of fossil fuel companies or public attitudes about climate change.
Fed weighed slowing its pace of bond purchases
Several Federal Reserve policymakers this month favored slowing the Fed’s efforts to maintain record-low long-term interest rates as early as June — if the economy showed strong and sustained growth. But those officials appeared at odds over what evidence would demonstrate such gains.
US home sales tick up to highest in 3 ½ years
Sales of previously occupied U.S. homes ticked up last month to the highest level in three and a half years, helped by a jump in the number of houses for sale.
Restaurant learns online reviews can make or break
It was the customer service disaster heard around the Internet. An Arizona restaurateur, fed up after years of negative online reviews and an embarrassing appearance on a reality television show, posted a social media rant laced with salty language and angry, uppercase letters that quickly went viral last week, to the delight of people who love a good Internet meltdown.
Target’s 1Q profit drops 26 pct on weak sales
Target Corp. reported a 26 percent drop in first-quarter profit as cool temperatures and financial pressures limited customers’ appetite for spending. The company, based in Minneapolis, also cut its annual profit outlook, sending its stock down in premarket trading.
