: Stateline Business Journal

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Stateline Business Journal

AP Business Headlines

Tuesday 12/30/2014
Icahn takes large stake in Manitowoc, pushes for a split
Posted: December 30, 2014

NEW YORK (AP) — Activist investor Carl Icahn has taken a 7.77 percent stake in the crane maker Manitowoc and is pushing for the company to split into two, according to a regulatory filing Monday.

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Community Banking Thrives at 5-Star First National Bank and Trust
Posted: December 30, 2014

Beloit, WI, December 29, 2014 - First National Bank and Trust Company (FNBT) is proud to announce it has earned BauerFinancial’s 5-Star Superior rating for strength and security, proof positive that you don’t have to be the biggest to be the best.

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Wednesday 12/24/2014
District sells Gateway Business Park land
Posted: December 24, 2014

The School District of Beloit has sold its land in the Gateway Business Park.

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Wednesday 12/17/2014
CIty buys building at Big Hill
Posted: December 17, 2014

By Shaun Zinck

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Tuesday 12/09/2014
Walgreen tests virtual doctor visits through app
Posted: December 09, 2014

Walgreen is testing a new telemedicine service that lets patients see a doctor without leaving home or visiting any of the drugstore chain's clinics.

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Friday 12/05/2014
Key Walgreen sales metric rises 4.5 percent in Nov
Posted: December 05, 2014

DEERFIELD, Ill. (AP) — Strong prescription drug sales, aided by a rise in flu shots, helped to push Walgreen's revenue from established stores up more than 4 percent last month.

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Sears 3Q loss widens as retailer reshapes itself
Posted: December 05, 2014

HOFFMAN ESTATES, Ill. (AP) — Sears's third-quarter loss widened as the retailer continues to raise cash by closing stores and through loans from Chairman and CEO Eddie Lampert.

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Wednesday 11/12/2014
Voigt Music to merge stores, Beloit location to close next year
Posted: November 12, 2014

Voigt Music Center, which was founded in Beloit 75 years ago, will be closing its Beloit location next year and consolidating its Beloit and Janesville stores. The new consolidated store will be at the former Rock County Appliance store at 34 and 38 S. Main St., Janesville. The new location is expected to be complete by November of 2015, according to Voigt Music Center owner Tony Farrell Jr.

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Friday 11/07/2014
New power plant in Town of Beloit
Posted: November 07, 2014

Alliant Energy plans to invest up to $725 million to expand its Riverside Energy Center with a new natural gas fueled power plant located in Town of Beloit.

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Low oil prices send chills through oil patch
Posted: November 07, 2014

WILLISTON, N.D. (AP) — Marcus Jundt moved to Williston from Minnesota almost four years ago and has opened four restaurants there since. Food isn't propelling his business, though. It's oil.

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AbbVie hikes forecast, tops Street expectations
Posted: November 07, 2014

The drugmaker AbbVie surprised Wall Street on Friday with a third-quarter performance that turned out much better than expected and a new 2014 forecast that also extends well beyond what analysts predict.

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Aetna spends $400M on exchange technology provider
Posted: November 07, 2014

HARTFORD, Conn. (AP) — Health insurer Aetna will spend $400 million on a technology company that could strengthen its push into a relatively small but growing area of employer-sponsored coverage: private exchanges that let workers choose their own plans.

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Sun-Times owner sells suburban papers to Tribune
Posted: November 07, 2014

CHICAGO (AP) — The parent company of the Chicago Sun-Times has sold six daily newspapers and 32 weekly publications to Tribune Publishing Co.

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South Beloit welcomes winery
Posted: November 07, 2014

The Stateline Area’s newest winery is already growing in popularity.

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Mercy, Rockford health systems to merge
Posted: November 07, 2014

Mercy Health System based in Janesville, Wis., and Rockford Health System based in Rockford, Ill. announced Monday plans to merge to create a regional health system with five hospitals, more than 550 physicians and 80 outpatient clinics.

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Officials: Illinois chosen for $1.4B Cronus plant
Posted: November 07, 2014

CHAMPAIGN, Ill. (AP) — A chemical company has chosen a site in eastern Illinois over one in Iowa for a $1.4 billion fertilizer plant, and plans to establish its U.S. headquarters in Chicago, two officials familiar with the decision said Monday.

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Union: Wisconsin tractor plant to lay off 150
Posted: November 07, 2014

MOUNT PLEASANT, Wis. (AP) — A union official says CNH Industrial plans to lay off about 150 workers at its Mount Pleasant tractor plant on Dec. 1.

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Monday 10/27/2014
ComEd wins approval for new transmission line
Posted: October 27, 2014

CHICAGO (AP) — Commonwealth Edison plans to begin construction next year of a 60-mile high-voltage transmission line in northern Illinois.

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Passenger jets push Boeing's profit up 18 percent
Posted: October 27, 2014

NEW YORK (AP) — Robust demand for commercial jets and an increased pace of production helped Boeing earn $1.36 billion in the third quarter, up 18 percent from the same period last year.

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Tuesday 10/21/2014
AbbVie to pay Shire $1.64B fee over nixed merger
Posted: October 21, 2014

NORTH CHICAGO, Ill. (AP) — AbbVie is walking away from its proposed $55 billion takeover bid of Shire and has agreed to pay the rival drugmaker a $1.64 billion breakup fee.

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Sears plans to raise more cash via rights offering
Posted: October 21, 2014

HOFFMAN ESTATES, Ill. (AP) — Sears is looking to raise more cash, announcing that it is planning a rights offering that may raise up to $625 million.

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Friday 10/17/2014
Yara, CF Industries abandon merger talks
Posted: October 17, 2014

(AP) — Norway's Yara International and Deerfield, Illinois-based CF Industries have abandoned merger talks that would have created a massive player in the fertilizer industry.

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AbbVie sours on $55B Shire deal after tax changes
Posted: October 17, 2014

AbbVie's board is telling shareholders to vote against its own $55 billion takeover bid for the Irish drugmaker Shire after the U.S. made reincorporating overseas a less lucrative tax maneuver.

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Boire named acting president, CEO of Sears Canada
Posted: October 17, 2014

HOFFMAN ESTATES, Ill. (AP) — A Sears executive was named acting president and CEO of Sears Canada on Wednesday.

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State Collection Service to add 300 jobs in three years By Shaun Zinck
Posted: October 17, 2014

The Wisconsin Economic Development Corporation announced on Monday that $750,000 in tax credits will be awarded to Madison-based State Collection Service as the company plans to create 300 full-time jobs over the next three years, most of which will be added in Beloit.

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Shire: AbbVie should proceed with $55B acquisition
Posted: October 17, 2014

The drugmaker Shire wants AbbVie to stick with its roughly $55 billion acquisition bid, and it is reminding its U.S. counterpart of the hefty breakup fee it will receive if things don't work out.

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Monday 10/13/2014
NorthPointe makes request for emergency department
Posted: October 13, 2014

ROSCOE — Beloit Health System has submitted a request to establish an emergency center at its NorthPointe Health and Wellness Campus in Roscoe.

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Meijer store in South Beloit closer to reality
Posted: October 13, 2014

The Meijer grocery store and retail company is expected to close on property along Willowbrook Road in South Beloit in about 30 days, but an opening of the store is not expected until 2016.

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Food prices edge up in Wisconsin
Posted: October 13, 2014

MADISON — Smaller herds, tight supplies and high international demand for meat and dairy have sent retail food prices rising at Wisconsin supermarkets, according to the latest Wisconsin Farm Bureau Marketbasket Survey.

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Consignment shop opens in Beloit
Posted: October 13, 2014

Two women who’ve been working with people for decades have opened a new boutique consignment store in downtown Beloit.

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New Blackhawk Bancorp president named
Posted: October 13, 2014

David K. Adkins has been named president of Blackhawk Bancorp, the parent company of Blackhawk Bank, based in Beloit.

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Monday 10/06/2014
Sears to raise cash through Canadian ops sale
Posted: October 06, 2014

HOFFMAN ESTATES, Ill. (AP) — Sorely in need of cash, Sears is selling most of its stake in its Canadian unit to raise as much as $380 million.

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Tuesday 09/30/2014
Walgreen reports 4Q loss
Posted: September 30, 2014

DEERFIELD, Ill. (AP) — Walgreen Co. (WAG) on Tuesday reported a loss of $239 million in its fiscal fourth quarter.

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Monday 09/22/2014
Pabst Brewing to be sold to Russian company
Posted: September 22, 2014

(AP) — The maker of Pabst Blue Ribbon beer is being sold to Russian company Oasis Beverages for an undisclosed sum.

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Beanie Babies creator's sentence debated in court
Posted: September 22, 2014

CHICAGO (AP) — Federal prosecutors seeking to put the billionaire creator of Beanie Babies in prison for hiding millions in Swiss bank accounts told appellate court judges Wednesday that the toymaker's sentence of probation threatens to erode the judicial system's ability to deter other tax evaders.

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Tuesday 09/09/2014
McDonald's Aug. sales metric hurt by China scandal
Posted: September 09, 2014

OAK BROOK, Ill. (AP) — McDonald's said Tuesday that a key global sales figure fell 3.7 percent in August, driven lower as the world's biggest hamburger chain's unit that includes the Asia-Pacific region dropped 14.5 percent due to a food-safety scandal in China.

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Monday 09/08/2014
3 Pick N' Save stores closing in Milwaukee area
Posted: September 08, 2014

MILWAUKEE (AP) — Roundy's Supermarkets is closing three Pick N' Save grocery stores in the Milwaukee area.

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Wednesday 09/03/2014
Infinity, AbbVie team up to develop cancer drug 

Posted: September 03, 2014

(AP) — Shares of Infinity Pharmaceuticals Inc. soared Wednesday after it said it could receive more than $800 million from a collaboration with fellow drug developer AbbVie on a potential cancer treatment.

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Tuesday 09/02/2014
ADM selling chocolate business to Cargill
Posted: September 02, 2014

CHICAGO (AP) — Archer Daniels Midland Co. is selling its global chocolate business to Cargill for $440 million.

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Monday 08/25/2014
ADM opens new Chicago headquarters
Posted: August 25, 2014

CHICAGO (AP) — Archer Daniels Midland Company says it new downtown Chicago headquarters is open.

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Thursday 08/21/2014
Illinois' share of bank settlement totals $300M
Posted: August 21, 2014

CHICAGO (AP) — Illinois Attorney General Lisa Madigan says the state will receive $300 million in its share of a national settlement with Bank of America.

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Unemployment down in Wisconsin cities, counties
Posted: August 21, 2014

MADISON, Wis. (AP) — Unemployment fell in most Wisconsin cities and counties in July.

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2 companies settle with Wisconsin in scam lawsuit
Posted: August 21, 2014

MADISON, Wis. (AP) — Two out-of-state companies have agreed to pay $50,000 to consumers and Wisconsin after the state sued them for scamming people out of hundreds of thousands of dollars and airline tickets.

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Wednesday 08/20/2014
Fortune Brands to sell window business for $130M
Posted: August 20, 2014

(AP) — Fortune Brands Home & Security Inc. said Wednesday that it has agreed to sell its Simonton Windows business to building products maker Ply Gem Holdings Inc. for about $130 million.

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Tuesday 08/19/2014
KPS Capital to sell Waupaca Foundry for $1.3B
Posted: August 19, 2014

(AP) — Private equity firm KPS Capital Partners plans to sell automotive industry supplier Waupaca Foundry Inc. to Japan's Hitachi Metals Ltd. for $1.3 billion in cash.

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Thursday 08/14/2014
Illinois unemployment rate falls again in July
Posted: August 14, 2014

CHICAGO (AP) — The state Department of Employment Security says Illinois unemployment fell in July to 6.8 percent. It was the fifth straight monthly decrease in the state's jobless rate.

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Illinois company is latest to test market for carp 

Posted: August 14, 2014

GRAFTON, Ill. (AP) — When they arrive at the processing plant, the fish that have been cursed as a menace to American lakes and rivers are raked onto a conveyer belt, some of them still flopping.

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Briggs & Stratton buying maker of light towers
Posted: August 14, 2014

MILWAUKEE (AP) — Engine maker Briggs & Stratton Corp. is acquiring a Nebraska company that makes towable light towers, industrial heaters and solar-powered arrow boards.

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Tuesday 08/12/2014
ComEd, Openland grants fund green-spaces projects
Posted: August 12, 2014

CHICAGO (AP) — Commonwealth Edison and the environmental advocacy group Openlands have awarded grants for 22 projects aimed at conserving and improving public green spaces.

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Monday 08/11/2014
Craft beers find a home in Mattoon 

Posted: August 11, 2014

MATTOON, Ill. (AP) — When it comes to producing beer, Glen Forneris doesn't need a massive brewery, giant kettles or frogs croaking in a round.

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