Viacom Inc. said Friday that Cablevision Systems Corp. lacks the rights to show its popular cable channels on the cable operator’s new live TV iPad app. Get the full story »
Blue Bird recalls 3,900 school buses over fire hazard
School bus manufacturer Blue Bird Body Co. is recalling about 3,900 large school buses for a potential fire hazard. Get the full story »
Decline in UAL traffic hits its stock, other airlines’
Airline stocks are declining after United Continental reported that traffic fell at a faster pace in March.
“People are very nervous about pricing due to rising oil prices,” says Wolfe Trahan analyst Hunter Keay. Get the full story »
Google, ITA deal approved with conditions
The Justice Department approved Google’s purchase of ticketing software company ITA Software as long as ITA’s products remain available to Google’s rivals. Get the full story »
U.S. probes steering complaints on Dodge pickups
U.S. safety investigators have launched a new review of steering complaints in Dodge Ram pickup trucks that could result in a bigger recall of that vehicle, documents showed on Friday. Get the full story »
Johnson & Johnson to pay U.S. $70M in fines
Johnson & Johnson has agreed to pay $70 million to settle U.S. charges that it paid bribes and kickbacks to win business overseas, the first major pharmaceutical company to settle since the Obama administration began its scrutiny of the industry more than a year ago. Get the full story »
April 8 at 10:33 a.m.
Filed under: Banking, Chicago executives, Housing, Personnel moves, Real estate, Updated JPMorgan Chase helps CEO Dimon on sale of Gold Coast mansion
JPMorgan CEO Jamie Dimon, right, listens to a question from the media after a speech at a conference on global capital markets in Washington, March 30, 2011. (Andrew Harrer/Bloomberg)
When Jamie Dimon, the chairman and chief executive of JPMorgan Chase & Co., finally sold his Gold Coast mansion at 25 E. Banks St. in 2010 after it had been on the market three years, the real estate crisis prevented him from getting the more than $13 million he originally wanted.
But he did get help from JPMorgan, which paid $421,458 in expenses related to the sale, according to a Securities and Exchange Commission filing made public yesterday. Get the full story »
Howard Hughes reports narrower quarterly loss
From Bloomberg News | Howard Hughes Corp., the U.S. property company spun off last year from General Growth Properties Inc., reported a narrower fourth-quarter loss after recording a tax benefit.
United Continental traffic declines in March
United Continental Holdings Inc. said traffic at United and Continental airlines fell at a faster pace in March. Get the full story »
Caterpillar to build transmissions in China venture
Caterpillar Inc. said Friday it agreed to form a joint venture with a Chinese transmission manufacturer that will build drivetrain systems and other components for Caterpillar machinery and produce a line of automatic transmissions for highway travel. Get the full story »
Toyota to resume limited production in Japan
Workers walk between newly-assembled Prius vehicles near Toyota's plant in Toyota, central Japan, in this February 9, 2010 file photo. (Reuters/Yuriko Nakao/Files)
Toyota Motor Corp. and Nissan Motor Co. said Friday that they will resume production at all factories in Japan from mid-to-late April, joining Honda Motor Co. in an industry-wide move indicating a month-long parts shortage may be abating.
But Japan’s Big Three auto makers all say their output at home still will be only at half of normal volumes. Get the full story »
McDonald’s Japanese sales fall 7.3% after quake
The Japanese unit of McDonald’s Corp. said Friday that same store sales in March declined 7.3 percent on year, falling short of year-earlier levels for the first time in four months due to the massive earthquake and tsunami that struck northeast Japan. Get the full story »
Audit criticizes College Illinois managers
An audit of the College Illinois prepaid tuition program determined the program’s overseers didn’t follow “sound business practices,” or state law, when it hired San Francisco-based Grigsby & Associates for investment advice.
The firm advised College Illinois on debt restructuring, but gave only one opinion to the Illinois Student Assistance Commission — to invest $12.8 million in ShoreBank Corp. The investment was lost last year when ShoreBank collapsed. Get the full story »
Disney begins work on Shanghai theme park
Dancers perform during the groundbreaking ceremony of Shanghai Disneyland. (Ally Song/Reuters)
Walt Disney Co. Chief Executive Robert A. Iger was joined by Shanghai’s Communist Party chief and the city’s mayor Friday to officially commence construction of a long-awaited theme park that will give the Burbank company a critical beachhead in mainland China.
In a carefully staged groundbreaking ceremony interspersed with singing and dancing, Iger said the new park would feature a blend of East and West and underscored the importance of the $3.7-billion project for Disney. Get the full story »
IRS awards $4.5M to whistleblower
An in-house accountant who raised a red flag about a tax lapse that his employer then ignored, leading him to tip off the IRS, has received $4.5 million in the first IRS whistleblower award. The accountant’s tip netted the IRS $20 million in taxes and interest from the errant financial-services firm. Get the full story »
