Dec. 30, 2010 at 5:01 p.m.
Filed under:
Bankruptcy,
Investing,
Retail
By Reuters
Since U.S. mall owner General Growth exited bankruptcy last month, its stock has gotten a nice lift. But shares of its less noticed spin-off, Howard Hughes Corp, have really soared.
Since General Growth issued about $2 billion worth of shares at $14.75 in mid-November, the mall owner’s stock price has grown more than 6 percent — trading around $15.70 on Thursday afternoon. Meanwhile, Howard Hughes’ thinly traded shares have gained nearly a third, or 32.8 percent, in roughly the same period, now trading around $54.45. Get the full story »
Dec. 30, 2010 at 4:59 p.m.
Filed under:
Energy,
Policy,
Politics
By Associated Press
A law professor being paid $950 an hour with BP’s money has declared that the czar of the $20 billion claims fund for Gulf oil spill victims is independent of the oil giant. Get the full story »
Dec. 30, 2010 at 4:58 p.m.
Filed under:
Cell phones,
China,
International,
Technology
By Reuters
A powerful virus targeting smart phones in China running Google Inc’s Android operating system may represent the most sophisticated bug to target mobile devices to date, security researchers said on Thursday. Get the full story »
Dec. 30, 2010 at 4:35 p.m.
Filed under:
Government,
Updated
By Dow Jones Newswires
Illinois politicians are reviewing whether to follow in California’s footsteps by forcing its bond underwriters to disclose what credit derivatives they have entered into on the state’s debt.
Staff members working for Illinois House of Representatives Speaker Michael Madigan reached out to California officials on Wednesday for information about how the Golden State has gone about improving disclosures relating to credit default swaps on its own state debt. Get the full story »
Dec. 30, 2010 at 3:58 p.m.
Filed under:
Education
By Reuters
The University of Wisconsin at Madison beat storied institutions like Harvard and Yale in terms of brand presence on the Internet in 2010, according to a survey released on Thursday.
The University of Wisconsin at Madison was deemed the top U.S. university in a TrendTopper MediaBuzz Internet analysis by the Global Language Monitor.
The list is compiled using a mathematical model to measure the “brand equity” of colleges in terms of their global impact on the Internet and social media during the year. Get the full story »
Dec. 30, 2010 at 3:18 p.m.
Filed under:
Autos,
Recalls,
Updated
By Associated Press
Chrysler is recalling nearly 150,000 trucks and SUVs to address several problems, including steering, air bag issues and the potential for trucks to stall.
The recalls were posted Thursday on the National Highway Traffic Safety Administration’s Web site. Get the full story »
Dec. 30, 2010 at 2:46 p.m.
Filed under:
Advertising/Marketing,
Internet
By Reuters
Facebook founder and CEO Mark Zuckerberg announces a new Facebook email messaging system in November. (Justin Sullivan/Getty)
Facebook surpassed Google for the first time as the most visited website in the United States for most of 2010.
The social network site edged out Google.com with 8.9 percent of all U.S. visits between January and November 2010, while Google.com ranked second with about 7.2 percent of all visits, according to online measurement service Experian Hitwise. Get the full story »
By Associated Press
A beekeeper stirs honey at an apiary near Wuhan of Hubei Province, China. (China Photos/Getty Images)
Honey companies and importers are launching a program in January to try to stop the flow of illegally sourced honey from coming into the country.
The True Source Honey Initiative is an effort by a handful of producers and importers looking to certify the origin and purity of the honey sold to U.S. consumers in jars and products such as cereals, snacks and glazes. Get the full story »
Dec. 30, 2010 at 2:05 p.m.
Filed under:
Advertising/Marketing,
Internet
By Reuters
Online deal site Groupon is still privately held but retail investors might soon be able to own a piece of it, judging by other startups in which mutual funds run by T. Rowe Price Group have invested. Get the full story »
Dec. 30, 2010 at 1:01 p.m.
Filed under:
M&A,
Technology,
Updated,
Venture capital
By Alejandra Cancino
Chicago-based Groupon Inc. has raised $500 million in equity financing of the $950 million it hopes to get.
The money came from 33 investors, Groupon said in a filing with the U.S. Securities and Exchange Commission. The company it is not disclosing their names, but DealBook reported Wednesday the start-up is negotiating financing commitments with Fidelity Investments, T. Rowe Price and Morgan Stanley. Get the full story »
Dec. 30, 2010 at 12:34 p.m.
Filed under:
Media,
TV
By Associated Press
Oprah Winfrey’s new network has announced the 10 contestants competing on “Your OWN Show: Oprah’s Search for the Next TV Star.”
The would-be hosts include a travel guide who’s in a wheelchair, a comedian who thinks the U.S. needs a gay best friend, and a businesswoman aiming to make a show about money both informative and fun.
Dec. 30, 2010 at 12:31 p.m.
Filed under:
Airlines,
Unions
By Associated Press
Continental Airlines fleet service employees have ratified a contract reached with the International Brotherhood of Teamsters.
The airline, a unit of United Continental Holdings Inc., called the vote a “positive step forward” in a statement released Wednesday.
Dec. 30, 2010 at 12:27 p.m.
Filed under:
Investigations,
Investing
The investment banker who helped lead the Obama administration’s auto industry overhaul has agreed to pay $10 million to settle influence-peddling allegations in New York.
Former “car czar” Steven Rattner admitted no wrongdoing as part of the deal, which was announced by state Attorney General Andrew Cuomo on Thursday.
Dec. 30, 2010 at 11:53 a.m.
Filed under:
Housing,
Mortgages,
Real estate,
Updated
By CNN
The era of near 4 percent mortgage rates has ended after a quick rate rise since early November. But some industry experts think that may be a good thing for the flagging housing market.
The average 30-year fixed mortgage rate has risen to 4.86 percent from 4.17%, according to Freddie Mac’s weekly mortgage market survey. In the Bankrate.com weekly survey, the rate has risen to 5.02 percent — crossing the 5 percent mark for the second time in three weeks — after being as low as 4.42 percent as recently as early November.
Rates haven’t been this high since May and forecasters now predict them to remain between 5 percent and 6 percent for all of 2011. Get the full story »
Dec. 30, 2010 at 11:39 a.m.
Filed under:
Real estate
By Reuters
Contracts for pending sales of previously owned U.S. homes rose faster than expected in November, though sales remained below “normal” activity levels, a real estate trade group said on Thursday.
The National Association of Realtors Pending Home Sales Index, based on contracts signed in November, rose 3.5 percent to 92.2 from a downwardly revised 89.1 in October. The index showed sales were 5 percent lower than the 97.0 reading in November of last year. Get the full story »
