Business Beat for Tuesday, Nov. 4, 2013

SHARE Business Beat for Tuesday, Nov. 4, 2013

Software startup Roompact expands nationwide

The Chicago company says 15,000 college students are now using its software to set boundaries to avoid roommate conflicts.

Groupon debuts line of private-label wine

Groupon on Tuesday cracked open a line of private-label wines with some purrfectly quirky names and labels featuring Groupon the Cat.

Reyes Beverage Group now top beer distributor in U.S.

The Rosemont company’s purchase of a South Florida beer distributor makes Reyes Beverage the country’s largest. [Crain’s]

Target to close 2 area stores

Stores in suburban Calumet City and McHenry are among 11 closures announced Tuesday by the Minneapolis-based retailer.

Budweiser goes for a throwback Christmas

Budweiser is shipping handmade wooden crates to retailers for the holidays. Inside, you’ll find 18 bottles with throwback logos. [Fast Company]

US stocks slip as oil’s slump hits energy industry

Stocks closed mostly lower Tuesday, led by declines in energy companies as the price of oil continues to fall.

Chicago Spire project is dead

Chicago developer Related Midwest LLC has taken control of the Chicago Spire development site. [Crain’s]

Office Depot raises earnings forecast

Office Depot Inc. said it expects greater benefits from its merger with OfficeMax and raised its net income forecasts.

Motorola Solutions raises buyback program by $5 billion

Motorola Solutions reported a better-than-expected quarterly profit as it slashed costs and raised its share buyback by $5 billion.

ADM earnings powered by corn processing, revenue slips

Gains in corn processing and agricultural services more than offset flat results in oilseed processing. [Reuters]

Ford issues 5 recalls covering 202,000 vehicles

The largest of five recalls announced Tuesday affects about 135,000 F-150 pickups and Ford Flex family haulers from the 2014 model year.

Burger King: Chicken Fries helped lift US sales

Burger King said bringing back its “Chicken Fries” helped sales jump in the U.S. and Canada by the biggest amount in two years.

CVS’s 3Q benefits from generics, specialty drugs

CVS Health Corp. reported better-than-expected third quarter earnings Tuesday, helped by increased use of generic drugs and specialty pharmaceuticals.

US sues Southwest Airlines over maintenance issues

The U.S. and Southwest failed to reach a settlement over allegations that repairs to dozens of planes didn’t meet safety standards.

Pace of US home price growth slows in September

Prices increased 5.6 percent in September compared to a year ago, CoreLogic said Tuesday. That’s down from annual gains of 6.4 percent in August.

US trade deficit rises in September

The U.S. trade deficit rose in September, as a broader global economic slowdown caused exports to fall.

AK Steel reports 3Q loss

AK Steel Holding Corp. on Tuesday reported a loss of $7.2 million in its third quarter but beat analyst expectations.

Judge won’t block Honeywell health screenings, penalties

Employees who decline to take the biometric tests could be fined up to $4,000 in surcharges and increased health costs.

The Latest
Robert Crimo III, accused of killing seven and wounding dozens more at a Fourth of July parade in 2022, asked a Lake County judge to allow him to continue without the aid of his assistant public defenders and invoked his right to a speedy trial.
UCLA, North Carolina State, Iowa and Texas followed the Gamecocks in the Top 25.
Jimmy Jeffries shot his personal-best buck in the second part of Illinois’ firearm deer season.
The 59-year-old Granato posted on X that he will begin treatment this week.
It’s a strong list of contenders despite a few odd choices about ‘The Bear,’ ‘Jury Duty’ and ‘May December.’