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U.S. markets recover from steep losses
CHICAGO, April 28 (UPI) -- Chicago-based Northern Trust Corp. plans to remain independent as long as it continues to satisfy its shareholders, said CEO William Osborn.
Osborn spoke of the company's plans last week after his annual shareholder meeting, the Chicago Tribune reported Saturday.
Northern Trust is one of the last large publicly traded financial companies in the Chicago area. Despite's Northern's present plans, it may be forced to join with another financial institution, said Kenneth Lewis, chairman and chief executive of Bank of America Corp.
"I haven't looked at Northern Trust in quite some time, and I don't know how big they are anymore," Lewis said. "But I'd doubt that five years from now that they'd be independent."
Lewis was in Chicago last week to meet with bank employees and Chicago officials about Bank of America's proposed $21 billion purchase of LaSalle Bank.
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CANBERRA, Australia, May 23 (UPI) --
Australia has passed legislation establishing the $10 billion Clean Energy Finance Corp. to provide grants and government investment to green projects.
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ORLANDO, Fla., May 23 (UPI) --
A new labor agreement between Lockheed Martin and workers at three company facilities has been ratified and is now in effect.
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The housing inventory rose slightly in April, which is unusual in the middle of the spring sales season. The uptick may be the result of rising seller confidence and it should ease concerns that the super tight inventory levels of the last six months...
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What if Europe turned out to be the new Japan?
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