Feb. 10 at 11:51 a.m.
Filed under:
Airplanes,
Updated
By Reuters
A model of the current Boeing 737 in Boeing's booth at a 2008 exhibition in Singapore. (AP Photo/Maye-E Wong, file)
Boeing Co. is still leaning toward building an all-new version of its hot-selling narrowbody 737, and the new plane would outperform Airbus’ competing A320neo, Boeing Chief Executive Jim McNerney said Thursday.
“We’re going to do a new airplane that will go beyond the capability of what the NEO can do,” McNerney said on a webcast of an event hosted by Cowen and Co.
He reiterated that the U.S. planemaker is still making its decision on whether to rebuild its 737 or simply put new fuel-efficient engines in the existing model. A redesigned plane would produce better fuel savings, but would take longer to bring to market. Get the full story »
Feb. 10 at 11:31 a.m.
Filed under:
Cell phones,
Updated
By Reuters
Thin crowds greeted Verizon Wireless’ launch of Apple Inc.’s iPhone, falling short of what some had expected.
Verizon Wireless began selling the iPhone on Thursday, ending AT&T Inc.’s more than three-year stranglehold on the device in the United States.
The lines in front of Verizon and Apple retail stores were noticeably shorter than mobs of customers that snaked around Apple stores during the summer launch of iPhone 4. Get the full story »
Feb. 10 at 11:21 a.m.
Filed under:
Computers,
Software
By Reuters
Strengthening cybersecurity is the goal of legislation being introduced in Congress after reports of hack attacks on computer networks at Nasdaq OMX Group and at oil and gas companies.
“Cyber-threats are not on the horizon, they are upon us,” Democratic Senator Robert Menendez, who is introducing the bill, said in a statement on Thursday. Get the full story »
Feb. 10 at 10:46 a.m.
Filed under:
Beverages,
Earnings
By Reuters
MillerCoors, the second-largest brewer in the United States, posted a 38 percent rise in fourth-quarter net income, as cost savings and better trends for its premium light brands offset soft industry volumes. Get the full story »
Feb. 10 at 10:37 a.m.
Filed under:
Policy,
Politics,
Regulations
By Reuters
U.S. securities regulators have made numerous missteps in procuring and managing contracts including office leases, the agency’s internal watchdog said on Thursday. Get the full story »
Feb. 10 at 10:16 a.m.
Filed under:
Investing
By Becky Yerak
A venture-capital investor in Chicago-based Groupon is placing a bet on another local company.
Chicago-based Abe’s Market , an online marketplace for a wide range of natural products, has closed a $3.4 million round of financing led by Accel Partners, which in late 2009 invested in Groupon. Accel, which has more than $6 billion under management, is joined by existing investor Index Ventures as well as other angel investors.
Abe’s Market works with almost 300 vendors and said it has seen its orders grow by 900 percent over the past six months. Get the full story »
Feb. 10 at 9:55 a.m.
Filed under:
Agriculture/Farming,
Earnings
By Reuters
Agricultural processor Bunge Ltd. reported higher-than-expected fourth-quarter profit and revenue on strength in grain merchandising.
Bunge’s grain marketing, storage and transportation operations benefited from rising global demand for food amid thinning stocks, and the company said it was able to withstand highly volatile commodities markets with favorable futures hedge positions. Get the full story »
Feb. 10 at 9:50 a.m.
Filed under:
Earnings
By Reuters
Circuit protection products maker Littelfuse Inc. posted a better-than-expected quarterly profit, mainly helped by growth in its electronics segment, and forecast 2011 sales above analysts’ expectations. Get the full story »
Feb. 10 at 9:45 a.m.
Filed under:
Earnings,
Exchanges,
Updated
By Reuters
CBOE Holdings’ quarterly profit jumped more than expected, and CEO William Brodsky sought to assure investors that the operator of the oldest U.S. stock options market has the edge over rivals pairing up in mega-mergers.
The disclosure on Wednesday that Germany’s Deutsche Boerse AG was in advanced talks to buy NYSE Euronext to create the world’s largest financial exchange company sent shares of CBOE soaring on rekindled investor hopes that it would be a takeover target.
The announcement came on the heels of a tie-up between the London Stock Exchange Group Plc and Canadian stock market operator TMX Group Inc . Get the full story »
Feb. 10 at 9:23 a.m.
Filed under:
Investing
From Bloomberg News | Chicago-based Mesirow Financial Inc. said Thursday it will start an investment management joint venture with Mubadala Development Co., an investment arm of the Abu Dhabi government.
Feb. 10 at 8:46 a.m.
Filed under:
Insurance,
Investing
By Dow Jones Newswires
Insurer Allstate Corp. plans to reduce the size of a hedging program designed to protect its $100 billion investment portfolio from steep declines.
The insurer spent “over several hundred million dollars” on the hedges in 2010 to shield the portfolio from sharp interest rate increases or a substantial drop in equities, Chief Executive Tom Wilson said on a conference call with analysts and investors Thursday. Get the full story »
Feb. 10 at 8:41 a.m.
Filed under:
Real estate
By Mary Ellen Podmolik
More than 8,300 homeowners in Illinois received notices from lenders that they’d defaulted on their mortgages and had foreclosures proceedings initiated against them last month, according to a monthly foreclosure report issued Thursday by Web site RealtyTrac.
In addition to the 8,345 homeowners receiving default notices, another 1,908 received notice that their homes were scheduled for court-ordered auction and 2,910 homes in the state were repossessed by lenders. Get the full story »
Feb. 10 at 7:40 a.m.
Filed under:
Jobs/employment,
Layoffs
By CNN
The number of Americans filing for first-time unemployment benefits fell to the lowest level in more than 2-1/2 years last week, easing some of the disappointment about a weak monthly jobs report.
There were 383,000 initial jobless claims filed in the week ended Feb. 5, the Labor Department said Thursday. That was down 36,000 from the week before, and much better than the 410,000 claims economists surveyed by Briefing.com had expected. Get the full story »
Feb. 10 at 7:16 a.m.
Filed under:
M&A
By Dow Jones Newswires-Wall Street Journal
As Internet valuations climb and bankers and would-be buyers circle Silicon Valley in an increasingly frothy tech market, many eyes are on one particularly desirable, if still enigmatic, target: Twitter.
Executives at both Facebook Inc. and Google Inc., among other companies, have held low-level talks with those at Twitter Inc. in recent months to explore the prospect of an acquisition of the Web-based messaging service, according to people familiar with the matter. The talks have so far gone nowhere, these people say. Get the full story »
Feb. 10 at 5:57 a.m.
Filed under:
China,
Energy,
International,
Internet
By Associated Press
Hackers operating from China stole sensitive information from Western oil companies, a U.S. security firm reported Thursday, adding to complaints about pervasive Internet crime traced to the country.
The report by McAfee Inc. did not identify the companies but said the “coordinated, covert and targeted” attacks began in November 2009 and targeted computers of oil and gas companies in the United States, Taiwan, Greece and Kazakhstan. It said the attackers stole information on operations, bidding for oil fields and financing. Get the full story »
