Briefs: Belvidere UAW to vote on contract

DETROIT -- The United Auto Workers union is so close to approving a landmark four-year contract with Chrysler that even some people against the deal said Thursday there's only a remote chance it could still be voted down. The only local yet to vote represents small-car assembly and stamping plants in Belvidere, with about 3,300 members. Local 1268 will vote today and Saturday, but only a huge turnout and an overwhelming "no" vote would be enough to sink the contract, according to dissidents.

OPEC speculation ups oil futures

NEW YORK -- Oil futures jumped to a new record close of $90.46 a barrel Thursday on news that OPEC production increases aren't coming as fast as expected and that the cartel won't announce new output quotas when it meets next month. Prices rose in early trading on growing concerns about conflict in the Middle East and declining supplies of crude in the U.S.

Housing report viewed cautiously

WASHINGTON -- New home sales posted an unexpected increase in September. Analysts viewed the small gain as highly questionable given the severe credit crunch that rocked the housing industry this summer. They predicted further sales declines before the worst housing slump in more than two decades ends. The Commerce Department reported Thursday sales of new homes rose by 4.8 percent last month to a seasonally adjusted annual rate of 770,000 units. Economists had looked for a 2.5 percent decline.

DuPage broker sued by SEC

OAKBROOK TERRACE -- The Securities and Exchange Commission has filed a civil suit against Raymond Financial Group President Robert Loffredi, accusing him of misappropriating more than $2.4 million of his clients' money. He allegedly pocketed money for personal and business expenses, according to the SEC. Some of the money, the SEC alleges, went to wife Karen Loffredi's company, Oakbrook Terrace-based Advanced Sales & Marketing Corp.