Nov. 2, 2010 at 1:26 p.m.
Filed under:
Agriculture/Farming,
Government,
Regulations
By Dow Jones Newswires
The U.S. Department of Agriculture unveiled Tuesday controversial plans to again approve genetically modified sugar beets in time for planting next year, a move that would nullify a federal court ruling in August that invalidated the approval the USDA issued five years ago.
The USDA’s proposal, published Tuesday, represents the preliminary stage of the process and will be followed by a 30-day comment period before a final decision. The USDA laid out three options in the proposal, including an option not to re-approve the sugar beets, but said its preferred action would be to “authorize the commercial production” of genetically modified sugar beets under strict regulations.
Get the full story »
By Reuters
Google is suing the U.S. government for excluding its products from being considered for a five-year contract worth about $59 million to upgrade the Department of the Interior’s email system.
In a complaint filed on Friday, Google said the government abused its discretion and acted in a manner that was “arbitrary and capricious” by only considering sales proposals with email technology based on Microsoft Corp technology. Get the full story »
Nov. 1, 2010 at 1:09 p.m.
Filed under:
Exchanges,
Government,
Regulations
By Dow Jones Newswires
A regulator at the Commodity Futures Trading Commission on Monday called for trading curbs on financial futures such as the Standard & Poor’s 500 E-mini, saying they could help prevent a repeat of the flash crash.
In a speech at the University of Notre Dame, CFTC Commissioner Bart Chilton said the agency has the authority to impose limits on how many financial futures contracts any one market player can hold, though he didn’t offer any details on what kind of limits might be appropriate. Get the full story »
Nov. 1, 2010 at 7:07 a.m.
Filed under:
Government,
Insurance
By CNN
American International Group said Monday that it has raised nearly $37 billion as part of its plan to pay back the government’s multi-billion dollar bailout. Get the full story »
Oct. 29, 2010 at 5:22 p.m.
Filed under:
Government,
Health care,
Recalls
By Reuters
U.S. health regulators say a recalled Medtronic Inc. tissue device could cause more problems than originally thought, the company said Friday.
The device maker recalled its Octopus Nuvo Tissue Stabilizer in September because part of it could break, leading to fragments falling into patient chests and damaging the heart. Get the full story »
Oct. 29, 2010 at 4:27 p.m.
Filed under:
Government,
Investigations,
Investing
By Mary Ellen Podmolik
The Securities and Exchange Commission on Friday obtained an emergency court order to freeze the assets of Brewer Financial Services LLC and Brewer Investment Advisors LLC, two Chicago firms it alleged were funneling funds from investors to subsidize their own troubled companies.
The SEC alleged that firm owners Steven Brewer and Adam Erickson raised about $5.6 million from 74 investors between June 2009 and Sept. 30, 2010, using offering materials that misstated or concealed how the funds would be used, the risk level of the investment and the financial condition of their companies. Get the full story »
Oct. 27, 2010 at 2:17 p.m.
Filed under:
Banking,
Government,
Regulations,
Stock activity
By Dow Jones Newswires
The Securities and Exchange Commission will vote Nov. 3 on whether to adopt a proposed ban on “naked access,” a trading arrangement that allows some firms to trade anonymously.
Naked access, offered to customers by some major banks and brokerage firms, allows traders to buy and sell stocks on exchanges using a broker’s computer code, which can shield their identity from regulators and exchanges. Get the full story »
Oct. 27, 2010 at 1:38 p.m.
Filed under:
Government,
Manufacturing
By Associated Press
A surge in demand for commercial aircraft lifted orders for big-ticket manufactured goods in September, but business spending weakened on products that signal expansion plans.
The Commerce Department says orders for durable goods rose 3.3 percent last month. Overall, it was the best showing since January. But excluding transportation, orders fell 0.8 percent after having risen 1.9 percent in August. Get the full story »
Oct. 26, 2010 at 1:46 p.m.
Filed under:
Autos,
Environment,
Government,
Green,
Manufacturing
By Reuters
Chrysler, the once-bankrupt U.S. automaker that received billions in government aid last year, will soon get new federal loans to help retool factories to make more fuel efficient vehicles, according to sources familiar with the matter.
The timing of the Energy Department award to Chrysler is fluid, but sources with knowledge of the financing and the industry say the automaker will likely receive approval for new credit before General Motors Co. Get the full story »
Oct. 26, 2010 at 12:49 p.m.
Filed under:
Food,
Government,
Packaged foods
By Dow Jones Newswires
The Food and Drug Administration warned Mead Johnson Nutrition Co. about the packaging for some of the company’s Enfamil infant formulas.
In a letter dated Oct. 18 that was posted to the agency’s Web site Tuesday, FDA said Mead Johnson didn’t give the FDA product specifications about a new plastic tub and lid used to store certain types of powdered Enfamil. Get the full story »
WIFR.com | Harris Bank has taken a pass on Amcore’s Rockford headquarters, leaving the FDIC holding the seven-story building.
Oct. 25, 2010 at 3:39 p.m.
Filed under:
Government,
Housing,
Mortgages,
Real estate
By Mary Ellen Podmolik
The number of Chicago-area homeowners in trial mortgage modifications continued to fall in September, while the number of people who have received permanently lower payment terms rose 4 percent in the month, the Treasury Department said Monday.
The government’s September accounting of its Home Affordable Modification Program also showed that borrowers in permanent modifications are having trouble keeping their loans current, even after the payments are reduced. Get the full story »
Oct. 25, 2010 at 2:03 p.m.
Filed under:
Bank failures,
Banking,
Government
By Dow Jones Newswires
An oversight panel for the government’s Wall Street bailout cited risks to the public trust over the handling of the program, as the special inspector general for the Troubled Asset Relief Program released a quarterly report Monday.
The special inspector general was created to monitor the activities of the Treasury Department involving the program started two years ago to save Wall Street from the financial crisis. Get the full story »
Oct. 25, 2010 at 1:53 p.m.
Filed under:
Agriculture/Farming,
Government,
International,
M&A
By Reuters
The Saskatchewan government’s opposition to BHP Billiton’s $39 billion takeover bid for Potash Corp., the crop nutrient producer based in the Canadian province, is not a negotiating stance aimed at squeezing concessions out of BHP, Premier Brad Wall said Monday.
Saskatchewan is recommending that the federal government reject the bid by BHP, the Anglo-Australian mining giant, on the grounds that it provides no net benefit to the country and will instead cost Saskatchewan revenue, jobs and strategic influence over a key commodity. Get the full story »
Oct. 25, 2010 at 12:44 p.m.
Filed under:
Autos,
Environment,
Government
By Reuters
The Obama administration on Monday proposed the first fuel efficiency and emissions standards for big tractor trailors and other commercial trucks that run mainly on diesel fuel.
The joint Transportation Department and Environmental Protection Agency initiative covers a range of vehicles from delivery vans to long-haul rigs and is expected to cut nearly 250 million tons of greenhouse gas emissions over the lifespans of vehicles produced within the program’s first five years. Get the full story »
