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    Business

    Sears to raise cash through Canadian ops sale

    Hoffman Estates-based Sears, sorely in need of cash, Sears is selling most of its stake in its Canadian unit to raise as much as $380 million.

    Oct 2, 2014 7:40 AM

    Hoffman Estates-based Sears, sorely in need of cash, Sears is selling most of its stake in its Canadian unit to raise as much as $380 million. The sale of the majority of its 51 percent stake in Sears Canada Inc. to its own shareholders will give the retailer some breathing room as it heads into the crucial holiday season. The company board approved a rights offering of up to 40 million shares of Sears Canada Inc. Chairman and CEO Edward Lampert plans to fully exercise his subscription rights. ESL Investments Inc., of which Lampert is also chairman and CEO, will do the same.

    Business

    Contact lost with planes one by one in FAA center fire

    The first radio links with pilots were lost just as the pre-dawn crush of flights into Chicago began. Air-traffic controllers in a nondescript Federal Aviation Administration building about 40 miles from the city switched to backup channels. Then those failed. They tried emergency connections, which also went dead.

    Oct 2, 2014 7:49 AM

    The first radio links with pilots were lost just as the pre-dawn crush of flights into Chicago began. Air-traffic controllers in a nondescript Federal Aviation Administration building about 40 miles from the city switched to backup channels. Then those failed. They tried emergency connections, which also went dead. Within minutes, the radar feeds, flight plans and other data that controllers rely on to direct more than 6,000 aircraft each day above five U.S. states had vanished as a fire was being set in the communications room one floor below.

    News

    Obama to speak about economy at Northwestern

    President Barack Obama is delivering an economic address Thursday at Northwestern University’s Kellogg School of Management.

    Oct 2, 2014 7:55 AM

    President Barack Obama is delivering an economic address Thursday at Northwestern University’s Kellogg School of Management, a pitch the White House has long been planning to frame the midterm campaign’s closing arguments. While Washington’s attention was focused on a Secret Service scandal, Obama slipped away for an overnight trip to his family home in Chicago, just a short helicopter ride away from the speech site.

    News

    Wind farm project starts in eastern Illinois

    EDF Renewable Energy started construction on an Illinois wind farm project they say should start producing electricity early next year.

    Oct 2, 2014 7:57 AM

    EDF Renewable Energy started construction on an Illinois wind farm project they say should start producing electricity early next year. The San Diego, Calif.-based energy company said in a news release Wednesday that ground has been broken for the Pilot Hill Wind Project in Kankakee and Iroquois counties in eastern Illinois.

    Business

    Facebook apologizes to drag queens over ID policies

    Drag queens from left, Lil Ms. Hot Mess, Sister Roma and Heklina, take turns speaking about their battle with Facebook during a news conference at City Hall in San Francisco, Calif. Facebook Wednesday apologized to drag queens and the transgender community for deleting accounts that used drag names like Lil Miss Hot Mess rather than legal names.

    Oct 2, 2014 8:03 AM

    Facebook Inc. apologized to drag queens and the gay, lesbian, bisexual and transgender community after an outcry over the social network’s policy of requiring members to use real names for their accounts on its service. The company, which from its founding has focused on authentic identities instead of allowing anonymous activity, drew criticism after it locked out some users going by their drag names, leading to complaints that the inability to use a pseudonym could compromise individuals’ safety and privacy.

    Business

    Putin says Russia not planning capital controls

    President Vladimir Putin said his government doesn’t intend to impose measures to stem the outflow of capital from Russia. “We don’t plan to introduce currency restrictions or restrictions on the movement of capital,” Putin said today at a Moscow investment forum organized by VTB Capital.

    Oct 2, 2014 8:07 AM

    President Vladimir Putin said his government doesn’t intend to impose measures to stem the outflow of capital from Russia. “We don’t plan to introduce currency restrictions or restrictions on the movement of capital,” Putin said today at a Moscow investment forum organized by VTB Capital.

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