Business Beat: J.C. Penney, McDonald’s Happy Meals, Honda fined

J.C. Penney to close 40 stores nationwide

The Chicago area was spared in the latest round of store closings announced by J.C. Penney Co. The struggling retailer says it will close about 40 stores this year and cut about 2,250 jobs as it tries to improve its profitability.

McDonald’s Happy Meals to include books

McDonald’s Happy Meals will come with a children’s book beginning Friday. McDonald’s is working with Reading is Fundamental and HarperCollins Children’s Books on the project, which expects to distribute 17 million books to families in the United States.

Honda fined $70 million for not reporting death, injury complaints

The Obama administration said Thursday it is fining Honda $70 million — the largest civil penalty levied against an automaker — for not reporting to regulators some 1,729 complaints that its vehicles caused deaths and injuries, and for not reporting warranty claims.

Boeing, Silk Way West working on $1.1 billion order

U.S. stock indexes jump for a second day

Apple, developers feating on people’s appetite for apps

AbbVie says possible treatment for endometriosis-related pain tested well

Hospira pump imports OK’d by FDA

Unemployment applications fall, suggesting strong hiring

Subaru recalls 199,000 vehicles to fix brake line rust

Caterpillar announces layoffs in East Peoria, Decatur

Tribune Media wants to redevelop L.A. Times property

Tribune moving suburban staff to Freedom Center [Chicago Tribune]