Internet retailer Amazon is denying that pro-WikiLeaks hackers were responsible for the failure of its Web sites in several European countries. Amazon sites were offline for about half an hour in Britain, France, Germany and other countries late Sunday, leading to speculation they could have been targeted by online “hacktivists.” Get the full story »
Airbus forecasts faster recovery for industry
European plane-maker Airbus is forecasting a faster-than-expected recovery in the aircraft industry. It says the world will need $3.2 trillion in new passenger and freighter aircraft over the next 20 years. That figure translates to nearly 26,000 planes. Get the full story »
Food trucks in Chicago in legal twilight zone
Food trucks — essentially restaurants on wheels — have taken off in cities such as Los Angeles and New York, spurred by the weak economy, trendy fare and the proliferation of social media, like Twitter. But in Chicago, one of the nation’s most progressive culinary cities, the trucks are held back by restrictive rules and operate in a legal twilight zone. Get the full story »
Dec. 13, 2010 at 5:30 a.m.
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Filed under: The day ahead in business
International: Airbus chief operating officer John Leahy lays out planemaker’s plans for the next 20 years.
Deadline set for Google’s Wi-Fi network data
Connecticut Attorney General Richard Blumenthal on Friday demanded that Google provide access to data the company said it accidentally collected from public Wi-Fi networks.
Grain rally forces large specs to cover shorts
Large speculators cut back on their bearish exposure to U.S. grain futures as an unexpected holiday season rally forced traders to cover short positions. Get the full story »
OPEC set for no change despite $90 oil
OPEC will not raise oil supplies at a meeting on Saturday, Saudi Oil Minister Ali al-Naimi said, leaving traders to ask what price the group requires to open the taps and prevent fuel inflation hurting global economic recovery. Get the full story »
Blackstone takes over two Chicago-area hotels
From Bloomberg | New York-based private equity giant Blackstone Group has taken ownership of a Chicago hotel — the Wyndham Chicago Downtown, located at 633 N. St. Clair St. Along with this, Chicago Real Estate Daily is reporting that Blackstone Group has also taken control of a suburban Westin as part of a 14-property distressed deal set in motion two months ago.
Former Kaplan dean guilty in e-mail threats case
By Andy Grimm | A former Kaplan Inc. dean was found guilty Friday of sending threatening and harassing e-mail messages to company executives, staff and students.
A federal jury found former Ben Wilcox, 45, of River Forest, guilty on each of six counts in connection with profane messages he allegedly sent from a hacked e-mail account following his firing in 2007.
Wilcox’s attorneys maintained Wilcox was framed by Kaplan in retaliation for filing a federal whistle-blower lawsuit claiming Kaplan executives engaged in widespread fraud at their for-profit universities. The jury of five men and seven women deliberated for more than seven hours. Get the full story »
Illinois named worst state for retirement
Plenty of folks are aware of the best states for retirees. But what are the 10 worst states in which to spend your golden years?
People of Illinois, California, New York, Rhode Island, New Jersey, Ohio, Wisconsin, Massachusetts, Connecticut and Nevada — you probably already know the answer. The list, with Illinois leading the pack, comes from website TopRetirements.com.
According to John Brady, president of TopRetirements.com, the 10 states earn this dubious distinction largely because of three factors: fiscal health, taxation and climate. Get the full story »
Maker of ‘Angry Birds’ app unveils billing software
Finland’s Rovio Mobile, known for its Angry Birds puzzle video game, unveiled on Friday payment software that gives mobile telecom operators a chance to win a share of booming app store business.
Mobile operators have struggled to grab a piece of the mobile applications market — worth $4.1 billion last year, according to research firm Chetan Sharma — as consumers pay with credit cards directly to Apple Inc or Google Inc.
Rovio said it would start to roll out its payment solution in early 2011 for Android phones sold by Finland’s top mobile carrier, Elisa, for purchasing additional features in Angry Birds. “This gives operators some revenue, compared to none. We are going to open it up to all other developers,” said Peter Vesterbacka, head of Rovio’s business development in North America. Get the full story »
GM to seek easing of executive pay restrictions
General Motors CEO Dan Akerson speaks at the Economic Club of Washington, Dec. 10, 2010. (AP Photo/Susan Walsh)
General Motors will seek some relaxation of executive pay restrictions imposed by the U.S. government as a condition of providing $50 billion in bailout and bankruptcy financing.
The automaker’s chief executive, Dan Akerson, told the Washington Economic Club that he would meet with the Obama administration’s acting special paymaster, Pat Geoghegan, later on Friday to discuss the matter.
“We have to be competitive and attract and retain great people. We’ve been able to do that. But we’re starting to lose them,” Akerson said. Get the full story »
Former head of Canopy pleads guilty to wire fraud
A co-founder of Chicago-based Canopy Financial pleaded guilty today of defrauding investors and clients of more than $93 million, according to a statement from the U.S. Department of Justice.
Jeremy Blackburn, 37, of Bolingbrook, pleaded guilty to one count of wire fraud in U.S. District Court. Blackburn, a former president and chief operating officer of Canopy, admitted participating in a scheme to bilk investors out of $75 million and siphoning funds in excess of $18 million, from 1,600 customer accounts that were intended for medical expenses. Get the full story »
Discover call-options trading surges before earnings
From Bloomberg News | Riverwoods-based Discover Financial’s call options trading jumped to triple the four-week average, amid wagers that Discover’s stock will rally after its Dec. 16 earnings report.
