Dec. 16, 2010 at 1:01 p.m.
Filed under:
Consumer news,
Internet
By Associated Press
The Commerce Department is calling for the creation of a “privacy bill of rights” for Internet users to set ground rules for companies that collect consumer data online and use that information for marketing and other purposes.
The proposal, outlined in a Commerce Department report Thursday, is intended to address growing unease about the vast amounts of personal information that companies are scooping up on the Net — from Web browsing habits to smart phone locations to Facebook preferences. That data is often mined to target advertising. Get the full story »
Dec. 16, 2010 at 12:02 p.m.
Filed under:
Recalls
By CNN
Wal-Mart is recalling more than 2 million electric heaters because of a “fire and burn hazard,” the company said Thursday.
The retailer, in a joint statement with the Consumer Product Safety Commission, said it was recalling 2.2 million heaters of the following brands: Flow Pro, Airtech, Aloha Breeze and Comfort Essentials. Get the full story »
Dec. 16, 2010 at 11:58 a.m.
Filed under:
Earnings,
Food,
Packaged foods
By Reuters
General Mills Inc. said price increases on foods such as frozen vegetables and baking products should help it meet its profit target for the year.
The company also said it is on track to cut $1 billion in costs by the end of May 2012, which should help offset rising commodity costs that contributed to weaker-than-expected second-quarter results. And new products such as Cinnamon Burst Cheerios and Gluten Free Bisquick will lift sales. Get the full story »
Dec. 16, 2010 at 11:44 a.m.
Filed under:
Autos,
Investigations
Bloomberg News | The National Highway Traffic Safety Administration is investigating 2004-2007 Saturn Ion sedans after receiving more than 600 complaints that the cars lost power steering suddenly. Some 384,000 vehicles are involved.
Dec. 16, 2010 at 11:26 a.m.
Filed under:
Litigation
By Associated Press
The Supreme Court of Canada will hear an appeal by ex-business associates of Conrad Black who argue Canadian courts are not the proper forum for the former media mogul to pursue libel suits against them. Get the full story »
Dec. 16, 2010 at 11:09 a.m.
Filed under:
Criminal charges,
Investing
By Associated Press
Three employees at public companies and an executive of an expert-networking firm on Thursday became the latest to be charged in a wide-ranging Wall Street insider trading probe.
James Fleishman, 41, of Santa Clara, Calif., the networking executive, was charged with wire fraud and conspiracy for providing confidential information to the firm’s clients, including hedge funds, U.S. Attorney Preet Bharara said. Get the full story »
Dec. 16, 2010 at 11:02 a.m.
Filed under:
Autos,
Recalls
By Dow Jones Newswires
Honda Motor Co. will recall 734,392 Fit subcompact cars because of defective headlights, according to a report filed Thursday with Japan’s transportation ministry.
According to the Ministry of Land, Infrastructure, Transportation and Tourism, Honda will recall vehicles produced between November 2001 and October 2007. It’s the ninth-biggest recall since the reporting system began in 1969. Get the full story »
Dec. 16, 2010 at 10:51 a.m.
Filed under:
Exchanges,
International,
Investing
By Reuters
CME Group Inc.’s European clearinghouse won U.K. regulatory approval Thursday, paving the way for the biggest U.S. futures exchange operator to expand globally.
CME plans to launch CME Clearing Europe in early 2011, the Chicago-based company said in a statement. The clearinghouse will start by clearing over-the-counter commodity products, to be followed “soon after” by over-the-counter financial products, it said. Get the full story »
Dec. 16, 2010 at 10:33 a.m.
Filed under:
Energy
By Reuters
Chevron Corp. said it would spend $4 billion to develop its Big Foot project in the Gulf of Mexico, even as tougher rules and higher costs loom for deepwater operators.
Chevron, the second-largest U.S. oil company behind Exxon Mobil, has continued to invest in the Gulf of Mexico even as uncertainty over costs and the U.S. government’s new safety regulations linger after the BP Plc oil spill. Get the full story »
Dec. 16, 2010 at 10:19 a.m.
Filed under:
International,
M&A
By Dow Jones Newswires
FedEx Corp. on Thursday signed an agreement to acquire Mexican express-package-delivery company MultiPack, allowing the FedEx Express business unit to enhance its capabilities in the Mexican domestic-delivery market.
FedEx did not provide further details on the deal, but expects to close the acquisition during the second quarter of 2011, subject to regulatory approvals and customary conditions. Get the full story »
Dec. 16, 2010 at 9:40 a.m.
Filed under:
Housing,
Mortgages
By Dow Jones Newswires
Mortgage rates rose in the latest week, extending their bounce off record lows they set in the fall, according to Freddie Mac’s weekly survey.
Rates have climbed in recent weeks after they fell through October, setting repeated lows. Yields on Treasurys have jumped sharply recently, and mortgage rates generally track the yields, which move inversely to Treasury prices. Get the full story »
Dec. 16, 2010 at 9:05 a.m.
Filed under:
Energy,
Litigation
Form Crain’s Chicago Business | Peoples Energy filed suit Wednesday against Chicago lawyer Theodore Tetzlaff and his firm, Ungaretti & Harris LLP, alleging he authorized the destruction of documents in a class-action suit in violation of a court order. Peoples is seeking at least $4.66 million in damages. Get the full story>>
Dec. 16, 2010 at 8:02 a.m.
Filed under:
Health care,
M&A
By Bruce Japsen
Chicago-based private equity firm Water Street Healthcare Partners said it has acquired a company that works with insurers and employers to manage heart and cancer care benefits for an undisclosed amount. Get the full story »
Dec. 16, 2010 at 7:57 a.m.
Filed under:
Banking,
Credit Cards,
Earnings
By Reuters
Discover Financial Services reported a quarterly profit of $350 million on Thursday as consumers spent more on their credit cards and the company expanded its non-lending lines of business. The credit card lender and transaction-processing network said it earned 64 cents per share in its fiscal fourth quarter ended Nov. 30. Get the full story »
Dec. 16, 2010 at 7:40 a.m.
Filed under:
Autos,
Environment,
Green,
Tourism,
Travel
By Associated Press
A visualization of a proposed electric car station in Paris. (AP)
After its successful bike-sharing program, Paris is moving into higher gear, preparing to lend out 3,000 electric cars across the City of Light to fight air pollution.
City officials on Thursday chose a bid by French billionaire entrepreneur Vincent Bollore to run Autolib’, a new automobile-sharing program modeled on Paris’ successful, three-year-old bicycle-sharing program, Velib’. Get the full story »
