business
New money behind plan to build Lake-Canal tower on spec
Developers joined with Mayor Rahm Emanuel to announce revised plans Wednesday for a 45-story office building in the West Loop, portraying it as a sign of growing confidence in Chicago and a pro-business attitude at City Hall. It will be downtown’s first new office space since 2010 and the first speculative office building in the city since 1998.
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FTC: Skechers deceived consumers with shoe ads
Skechers USA Inc. will pay $40 million to settle charges by the Federal Trade Commission that the footwear company made unfounded claims that its Shape-ups shoes would help people lose weight and strengthen their butt, leg and stomach muscles. Kardashian, Burke and other celebrities endorsed the shoes in Skechers ads.
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Healthy eating can cost less, study finds
An Agriculture Department study released Wednesday found that most fruits, vegetables and other healthy foods cost less than foods high in fat, sugar and salt.
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What Adobe offers photo pros, near experts and amateurs
ANDY IHNATKO: Photoshop, Photoshop Lightroom, and Photoshop Elements are the Three Bears of photo editing. For any given person who grudgingly admits to themselves or their life partners that perhaps there are some moments that merit a photographic recording, one of these apps will be the perfect fit.
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Groupon, Facebook carry risks, say analysts
The buzz surrounding Groupon and the frenzy over Facebook grow as they promise to change the face of Internet commerce. Yet, even after the share price’s bounce on its earnings, some analysts point to warning signals that should temper the growing exuberance both are enjoying.
Shareholders sue JPMorgan; FBI head confirms probe
FBI Director Robert Mueller said Wednesday the bureau has launched a preliminary investigation of JPMorgan Chase & Co. following a $2 billion trading loss at the bank. Mueller’s comment at a Senate Judiciary Committee hearing was the first on-the-record confirmation of the probe. Also Wednesday, …Read More
Facebook investors to cash out more shares
Insiders and early Facebook investors will be unloading more of their shares in the initial public offering, the company said Wednesday, as they take advantage of investor demand.
When working at home doesn’t work
Two shared-workplace businesses have opened in Evanston to provide professional, yet casual, work space for people who might otherwise work at home or the neighborhood coffeehouse.
Wall Street’s messy May gets a little worse
An already dreary May got a little worse for financial markets Wednesday as Greece’s political chaos dragged on. The euro fell to its lowest point since January as investor confidence in Europe’s shared currency weakened further.
What Adobe offers photo pros, near experts and amateurs
ANDY IHNATKO: Photoshop, Photoshop Lightroom, and Photoshop Elements are the Three Bears of photo editing. For any given person who grudgingly admits to themselves or their life partners that perhaps there are some moments that merit a photographic recording, one of these apps will be the perfect fit.
JPMorgan’s Dimon keeps chairmanship; FBI reportedly probing loss
Jamie Dimon, CEO of JPMorgan Chase, offered a quick but blunt apology to shareholders Tuesday for a $2 billion trading loss that “should never have happened” and survived a push to strip him of the title of chairman of the board. And a law enforcement official said that the FBI’s New York office is heading an inquiry by the Justice Department into the JPMorgan loss.
Retailers say business as usual during NATO, but precautions popular, too
Downtown Chicago retailers say it will be business-as-usual during the coming NATO summit. Yet plywood, nails, two-by-fours and other board-up materials are being delivered daily to downtown buildings for those preparing for the worst.
Many employers plan a typical day at the office during NATO Summit
For some it’s an opportunity to work from home in their PJs. For others, it will translate into free lunch and paid time off. For many, it’s still a question whether they’ll work in the office or at home during the NATO summit. But most employers contacted by the Chicago Sun-Times said their workers can expect a typical day at the office, despite transportation headaches, protesters and stepped-up security.
Dow Jones average continues a two-week slide
Europe’s latest political impasse cast a gloom over financial markets Tuesday. The euro plunged, and the Dow Jones industrial average extended a slide that has wiped out nearly 5 percent of its value in two weeks. The markets meandered between gains and losses for much of the day, then turned decisively lower in the last hour of trading.
People like — but don’t trust or love — Facebook: poll
Facebook’s reach is wide but not deep. Few users surveyed in an Associated Press-CNBC poll say they click on the site’s ads or buy the virtual goods that make money for it.
More than 40 percent of American adults log in to the site — …
Groupon may star on prime time TV show
Groupon, or some version of it, may be coming to prime time this fall. Among the new fall shows CBS is expected to announce Wednesday is “Friend Me,” starring Christopher Mintz-Plasse (“Superbad”) and Nicholas Braun as friends who leave Bloomington, Ind., for new jobs at Groupon — in L.A.
