With the channel’s New Year’s Day launch creeping up, OWN, the new cable network from Oprah Winfrey and Discovery Communications, has reached a deal with Cablevision Systems Inc. to carry the service.
Trade groups: CFTC regulations must be clear
Several financial industry trade groups said on Tuesday that the Commodity Futures Trading Commission risks causing confusion and reducing legitimate trading practices if it fails to clearly outline what practices are prohibited under its new anti-manipulation authority.
The Futures Industry Association, the Securities Industry and Financial Markets Association and the International Swaps and Derivatives Associations said in a joint letter the CFTC must describe legitimate trading practices with those it has determined can lead to market manipulation. Get the full story »
All first-class postage to be ‘forever’ stamps
Beginning in January, all new postage stamps good for 1 ounce of first-class mail will be marked as “forever.”
The U.S. Postal Service is doing away with issuing first-class stamps with denominations. Get the full story »
United, Delta, Continental raise fares by $10-$20
Passengers whose travel plans were wrecked this week when thousands of flights were canceled might not want to hear it, but airfares are going up again.
Several airlines confirmed Tuesday that they are raising prices on many domestic routes by $10 one way and $20 per round trip, even as snowbound passengers remain stranded at New York City-area airports. Get the full story »
Treasury prices fall after disappointing auction
Treasury prices dropped Tuesday after results of the government’s $35 billion auction of long-term bonds disappointed traders.
The price of the 10-year Treasury note lost $1 per $100 invested in afternoon trading. Its yield, which moves in the opposite direction, rose to 3.46 percent from 3.34 percent late Monday. Get the full story »
3 versions of iPad Gen II reported in works
Apple will make three versions of the next iteration of the iPad, according to Taiwanese tech site DigiTimes. Get the full story »
Survey shows spike in U.S. demand for gas
U.S. retail gasoline demand rose sharply last week, by 4.6 percent, buoyed by holiday travel, MasterCard Advisors’ SpendingPulse report showed Tuesday.
Average gasoline demand rose by 425,000 barrels-per-day, to 9.613 million, in the week to Dec. 24. Get the full story »
Nokia Siemens deal for Motorola business delayed
Nokia Siemens Networks’ acquisition of Motorola Inc.’s network infrastructure business has been pushed to the first quarter of 2011 because the deal still needs regulatory approval in China.
The $1.2 billion transaction between Schaumburg-based Motorola and Nokia Siemens Networks was announced in July and expected to close by the end of 2010. However, the Chinese Ministry of Commerce’s Anti-Monopoly Bureau has yet to approve it. Regulators in the U.S., European Union, Brazil, Japan, Russia, South Africa, Taiwan and Turkey have given the green light. Get the full story »
Federal-Mogul recall affects 1995-2006 Chryslers
Federal-Mogul Corp. is recalling 22,689 replacement control arm assemblies in certain older model Chrysler vehicles after it found a fault that could cause vehicles to crash.
The Michigan-based auto parts supplier said a part of the assembly, a ball stud, could wear through the assembly housing, causing the driver to lose steering control, according to a notice filed with the U.S. National Highway Traffic Safety Administration. Get the full story »
FTC clears Icahn takeover of Dynegy
Carl Icahn’s $665 million cash takeover of power producer Dynegy Inc. received clearance from the Federal Trade Commission Tuesday.
The billionaire investor’s deal follows a failed bid by private equity firm Blackstone Group LP. Icahn, Dynegy’s largest shareholder, opposed the $5 per share deal arguing it undervalued the company. Get the full story »
Allstate sues BofA, Countrywide over losses
Allstate Corp. has sued Bank of America Corp. and the Countrywide Financial mortgage unit it acquired in 2008 regarding $700 million in residential mortgage-backed securities the insurer purchased, claiming Countrywide misrepresented the investments, Bloomberg News reported Tuesday.
“Countrywide was singularly focused on increasing its market share, off-loading the risk onto Allstate and other institutional investors that purchased securities backed by pools of Countrywide’s mortgages,” Allstate said in its civil suit, filed Monday in U.S. District Court in Manhattan. Get the full story »
AT&T plans to expand Wi-Fi hotzones program
AT&T Inc. plans to expand its Wi-Fi hotzone in Times Square and add new coverage areas in New York and San Francisco, after a strong response to its pilot program.
The company initially plans to expand the Times Square Wi-Fi hotzone and add new ones near Rockefeller Center and St. Patrick’s Cathedral in midtown Manhattan. It also is planning a new hotzone for the Embarcadero Center in San Francisco. The program is intended to supplement mobile broadband in urban areas with consistently high usage
AT&T, the exclusive carrier of Apple Inc.’s iPhone in the U.S., has been the subject of criticism over the quality of its service in places like New York City and San Francisco. Get the full story »
Dec. 28, 2010 at 11:24 a.m.
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Filed under: Consumer electronics, Privacy issues, Technology, Updated, Wireless Apple sued over privacy issues with Apps
Apple Inc. allowed personal information from users of applications for its iPad and iPhone devices to be transmitted to advertising networks without the users’ knowledge, according to a lawsuit brought against the technology giant last week, Bloomberg News reported Tuesday. Get the full story »
Dec. 28, 2010 at 11:10 a.m.
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Filed under: Economy, International, Jobs/employment, Labor, Updated Caterpillar, other companies boost hiring overseas
Corporate profits are up. Stock prices are up. So why isn’t anyone hiring?
Many American companies are — overseas, where sales are surging and the pipeline of orders is fat. Get the full story »
