Chicago-based Northern Trust Corp. will unveil early next year the details of cost-cutting plan that is likely to includes significant layoffs, according to a report by Crain’s Chicago Business.

The nation's official poverty rate in 2010 was 15.1 percent, up from 14.3 percent in 2009 and the highest since 1993, the U.S. Census Bureau reported.

The Reserves Network, a Fairview Park, Ohio-based staffing service for the office, industrial, professional and technical markets, has acquired Eagle Technology Group of Milwaukee.

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Waukesha County Technical College redesigned its Six Sigma Continuous Quality Improvement Initiative last year, and has helped area manufacturers find more than $2.1 million in cost savings as a result.

New York-based Prince Minerals Inc. has acquired IGC Technologies LLC of Milwaukee for an undisclosed amount.

The Greater Milwaukee Committee (GMC) announced the creation of a new initiative called MiKE (Innovation in Milwaukee), a design, technology and innovation cluster that will serve as a catalytic source for rapid innovation and talent to compete on the world stage.

President Barack Obama announced his intent to appoint H. Fisk Johnson as a member of the President’s Advisory Committee for Trade Policy and Negotiations.

Glendale-based Johnson Controls Inc. will invest $100 million to build a start-stop vehicle battery plant in China, a move the automobile battery producer said reflects increasing global demand for environmentally-friendly technology.

Johnson Outdoors Inc., a Racine-based global outdoor recreation company, announced the temporary closure of its plant and administrative offices in Binghamton, N.Y., due to flooding from heavy rains.