United States Cellular Corp. today announced it has reached a definitive agreement to sell its Chicago, St. Louis, central Illinois and three other Midwest markets to subsidiaries of Sprint Nextel Corp. for $480 million.

U.S. Cellular will sell markets including Chicago to units of Sprint Nextel Corp. for $480 million.

Rexnord Corp. today reported fiscal second quarter net income of $19.2 million, or 19 cents per share, up from $4.5 million, or 6 cents per share, in the same period a year ago.

The new owner of the Block 37 shopping center has acquired the rights to develop hundreds of new hotel rooms and apartment units above the Loop structure, a step toward fulfilling the original vision for a dense mixed-use project at the star-crossed property.

Caterpillar Inc., the world's top producer of construction and mining equipment, said it will idle more factories and production lines as orders slump due to slowing demand.

Milwaukee-based company Artisan Partners Asset Management Inc. has filed for a $250 million proposed initial public offering of Class A common stock.

Associated Bank has received the Minority Business Development Award from the Wisconsin Economic Development Corporation.

Northwestern Mutual has announced the promotion of three executives in Milwaukee.

Baird Capital Partners, the buyout fund of Baird Private Equity, announced its portfolio company Digi-Star LLC of Fort Atkinson has acquired RDS Technology of the United Kingdom.

Cudahy-based Roadrunner Transportation Systems Inc. announced it has acquired all of the outstanding stock of Central Cal Transportation, a Fresno, Calif.-based provider of intermodal transportation and related services.

The performance by the equity markets in October was in line with expectations as the presidential election cycle made its presence felt.