Dec. 23, 2010 at 7:29 a.m.
Filed under:
Energy,
International
By Reuters
Core OPEC ministers began arriving in Cairo on Thursday, ahead of talks that were expected to broach how high an oil price the world economy can stand as the market hovers near two-year peaks above $90 a barrel.
A full conference of the Organization of the Petroleum Exporting Countries earlier this month elected to make no change to an output policy it has stuck to since December 2008.
Since then oil has maintained a more than 30 percent rally from this year’s low struck in May and this week scaled a high of $90.80, the steepest in two years. Get the full story »
By Reuters
The Senate Armed Services Committee will hold hearings next month into an Air Force document bungle roiling a transAtlantic rematch for a potential $50 billion aerial-refueling plane contract.
Senate Armed Services Chairman Carl Levin said Wednesday he was prepared to launch an investigation into “the release of proprietary data” from rival tanker bidders Boeing and Europe’s EADS.
At issue is what the Air Force calls “a clerical error” that sent Boeing and EADS computerized records in November with sensitive data on each other’s bid for the contract. Get the full story »
Dec. 23, 2010 at 6:37 a.m.
Filed under:
Technology
From The Wall Street Journal | Software giant Microsoft is crafting a new operating system that deviates from its heavy reliance on chip technology pioneered by Intel, according to people briefed on Microsoft’s plans.
Dec. 23, 2010 at 5:47 a.m.
Filed under:
Policy,
Politics
By Reuters
The nomination of Nobel prize-winning economist Peter Diamond to the Federal Reserve’s Board was scuttled on Wednesday when the Senate failed to vote on it before adjourning for the year. Get the full story »
Dec. 23, 2010 at 5:39 a.m.
Filed under:
Insurance,
Labor,
Litigation
By Reuters
Bailed-out insurer American International Group will pay $100 million in fines in a settlement with all 50 states over reporting errors for premiums on workers’ compensation insurance. Get the full story »
Dec. 23, 2010 at 5:34 a.m.
Filed under:
M&A,
Technology
From The Des Moines Register | Telephone and Data Systems Inc., the parent company of TDS Telecommunications Corp., has purchased the Iowa data center company TEAM Technologies, which has centers in Cedar Falls, the Des Moines metro area and Madison, Wis., for $47 million.
By Dow Jones Newswires
Downers Grove-based Dover Corp. has reached an $855 million deal to acquire NXP Semiconductors NV’s Sound Solutions business, which makes speaker and receiver components for the mobile handset market. Get the full story »
Dec. 22, 2010 at 5:38 p.m.
Filed under:
Banking
New Lenox village government has a new banker.
The Village Board this week approved an ordinance switching its account from Harris Bank to Old Plank Trail Community Bank.
The village has had its banking services handled by the former New Lenox State Bank, now Harris, since the village incorporated in 1946. But after Harris recently began charging fees, Finance Director Kim Auchstetter recommended considering a change.
Dec. 22, 2010 at 4:52 p.m.
Filed under:
Pharmaceuticals,
Updated
By Andrew Zajac
Abbott Laboratories Wednesday announced a recall of as many as 359 million glucose test strips used to monitor diabetics’ blood sugar because they may give falsely low readings.
The strips may not absorb enough blood quickly enough to give a proper reading, which can lead users to try to raise sugar levels unnecessarily, or to fail to treat elevated glucose levels, the company said in a statement. Get the full story »
Dec. 22, 2010 at 4:36 p.m.
Filed under:
Autos,
Recalls
By Associated Press
Honda Motor Co. is recalling about 10,800 Accord sedans and Pilot sport utility vehicles to prevent possible front suspension failure. Get the full story »
Dec. 22, 2010 at 4:24 p.m.
Filed under:
Chicago executives,
Personnel moves
By Reuters
Shoe maker Crocs said its Chief Financial Officer Russell Hammer resigned to head the financial team at a Chicago-based public company. Get the full story »
Dec. 22, 2010 at 4:17 p.m.
Filed under:
Economy,
Policy,
Politics
By Associated Press
President Barack Obama says the economy will be his “singular focus” over the next two years.
He says the nation is past the “crisis point” in the economy, and that he’ll now be working to bring down the jobless rate and equip the nation to compete with the rest of the world. Get the full story »
Dec. 22, 2010 at 3:48 p.m.
Filed under:
Exchanges,
Stock activity
From Bloomberg News | The Chicago Board Options Exchange Volatility Index, or VIX, which is considered the benchmark index for U.S. stock options, fell to a three-year low as the Standard & Poor’s 500 Index moved in its narrowest range since April 2007 and rose for a fifth day to reach a two-year high.
Dec. 22, 2010 at 3:33 p.m.
Filed under:
Banking,
Economy,
Investing
By Associated Press
The Treasury Department says six banks have repaid government bailouts worth a combined $2.66 billion.
The banks are returning taxpayer money that they received in the aftermath of the 2008 financial crisis.
The banks that repaid their bailouts on Wednesday are Huntington Bancshares, First Horizon National Corp., Wintrust Financial Corp., Susquehanna Bancshares Inc., Heritage Financial Corp. and The Bank of Kentucky Financial Corp. Get the full story »
Dec. 22, 2010 at 3:03 p.m.
Filed under:
Internet,
Technology,
Telecommunications,
Updated
By Dow Jones Newswires-Wall Street Journal
Internet phone and video service Skype went down in a global service outage on Wednesday, underscoring a weakness of the free online communication tool. Get the full story »
