A federal jury convicted the former chief of a Chicago bank on charges he approved millions of dollars of risky loans to Paul Manafort, former campaign manager for President Donald Trump, in an effort to gain a top post in the Trump administration. Stephen Calk, former chairman and chief executive of Federal Savings Bank, was … Read more
Boeing said on Tuesday that it will cut its 787 production rate as it works through a new structural defect in its troubled twin-aisle airliner program in another obstacle to recovery from the coronavirus pandemic’s impact. The company now forecasts delivering fewer than half of the lingering 100 or so 787s in its inventory this year … Read more
Chick-fil-A is getting skewered by a group of New York lawmakers who are looking to block the company’s bid to open restaurants at state highway rest stops because of its owner’s anti-LGBTQ stance. The Atlanta-based fast-food chain is among a handful of restaurants that were awarded contracts by the New York State Thruway Authority to … Read more
Subway’s CEO insists there’s nothing fishy about his tuna. The sandwich chain’s head vehemently denied allegations that the tuna in the fast-food giant’s sandwiches is fake — as he declared that the Subway’s fish is no chicken or mystery meat of the sea. “[It’s] 100-percent tuna,” John Chidsey said Tuesday on on Fox Business. “We 100 … Read more
JPMorgan Chase more than doubled its quarterly profit as the US economy bounced back from the pandemic and the mega-bank continued to release reserves it had set aside for possible loan defaults. The nation’s biggest bank reported profit of $11.95 billion or $3.68 a share — beating analysts’ expectations of $3.20 a share and more … Read more