Economy

Economy

Home sales fell in April amid supply squeeze

WASHINGTON (AP) — Americans pulled back their pace of home-buying in April, as shrinking inventories and rising prices are putting them in a bind with fewer and fewer options.

AP/Equilar survey: Median CEO pay up 8.5% in 2016

NEW YORK (AP) — The typical CEO at the biggest U.S. companies got an 8.5 percent raise last year, raking in $11.5 million in salary, stock and other compensation last year, according to a study by executive data firm Equilar for The Associated Press. That's the biggest raise in three years.

New-home sales drop 11.4% in April

WASHINGTON (AP) — U.S. sales of new homes last month registered the biggest drop in more than two years.

The Commerce Department said Tuesday that new-home sales skidded 11.4 percent in April to a seasonally adjusted annual rate of 569,000.

CEOs' 2016 raises were biggest since 2013

NEW YORK (AP) — The typical CEO at the biggest U.S. companies got an 8.5 percent raise last year, raking in $11.5 million in salary, stock and other compensation last year, according to a study by executive data firm Equilar for The Associated Press. That's the biggest raise in three years.

John Roska: U.S. law covers funds transfers

Q: I had some plumbing work done, and signed what I thought was a receipt for payment. Later, I noticed a transfer from my bank account to the plumber.

When I called them about it, they said I'd signed a service contract and had agreed to monthly payments from my bank. They said I couldn't cancel.

Butterball to close Illinois meatpacking plant

CHICAGO (AP) — Turkey processor Butterball has announced it will shut its meatpacking plant west of Chicago, resulting in the loss of about 600 full-time jobs.

Illinois unemployment dips to 4.7 percent

CHICAGO (AP) — Illinois officials say the April unemployment rate dipped 0.2 percentage points to 4.7 percent.

The Illinois Department of Employment Security announced Thursday that nonfarm payrolls decreased by 7,200 jobs over the month. That's based on preliminary data from the U.S. Bureau of Labor Statistics .

Jobless rates hit record lows in 3 states

WASHINGTON (AP) — Solid hiring nationwide led unemployment rates to touch record lows in three U.S. states last month.

CHI Overhead Doors workers get surprise first dividend

ARTHUR — About 700 employees at CHI Overhead Doors were surprised Thursday with dividends from stock in their own company.

After private equity firm Kohlberg Kravis Roberts & Co bought CHI in 2015, employees were granted stock options, and two years later, KKR is issuing its first dividends.

White House serves notice: NAFTA to be renegotiated

WASHINGTON (AP) — Making good on a campaign promise, the Trump administration formally told Congress on Thursday that it intends to renegotiate the North American Free Trade Agreement with Canada and Mexico.