Dec. 3, 2010 at 7:30 a.m.
Filed under:
International
By Associated Press
Spain's Finance Minister Elena Salgado speaks on the country's new austerity measures. (AP/Victor Caivano)
The Spanish government has approved a package of new austerity measures and economic stimulus that it hopes will ease investor fears about its debt.
The moves include selling off nearly third of its national lottery, partially privatizing airports, cutting a jobless benefit and trimming taxes for small companies.
The measures were agreed to at a weekly cabinet meeting Friday. Get the full story »
Dec. 3, 2010 at 7:07 a.m.
Filed under:
Advertising/Marketing,
Government,
Media,
TV
By Associated Press
Here’s a message TV viewers may not want to mute: The days of getting blasted out of the easy chair by blaring TV commercials may soon be over.
The House on Thursday gave final congressional approval to a bill that would prevent advertisers from abruptly raising the volume to catch the attention of viewers wandering off when regular programming is interrupted. Get the full story »
Dec. 3, 2010 at 6:50 a.m.
Filed under:
Airplanes
By Dow Jones Newswires
An unmanned U.S. Air Force spacecraft made by Boeing, with a vaguely defined military mission, landed early Friday in California after a seven-month mission, officials said.
The X-37B, the U.S. Air Force’s first unmanned re-entry spacecraft, landed at Vandenberg Air Force Base at 3:16 a.m., according to an Air Force statement. The orbital spacecraft “conducted on-orbit experiments for more than 220 days during its maiden voyage,” the statement said. Get the full story »
Dec. 3, 2010 at 6:21 a.m.
Filed under:
Energy,
M&A
From Crain’s Chicago Business | Peoples Gas parent Integrys Energy Group Inc., which owns utilities in Wisconsin, Minnesota and Michigan,parent of Peoples Gas, is considering a bid for Naperville natural-gas utility Nicor Inc. At least one out-of-state utility and possibly a private-equity firm are also kicking Nicor’s tires. Get the full story>>
Dec. 3, 2010 at 5:58 a.m.
Filed under:
Government,
Taxes
By Associated Press
Defying expectations, a bipartisan majority of President Barack Obama’s deficit commission has rallied behind the panel’s controversial deficit-slashing proposals.
A key Obama ally, liberal Democratic Sen. Dick Durbin of Illinois, endorsed the plan Thursday night, joining two of the Senate’s most conservative Republicans. Get the full story »
Dec. 3, 2010 at 5:30 a.m.
Filed under:
Reports: Employment data for November, 7:30 a.m.; ISM service sector index for November, 9 a.m.; Factory orders for October, 9 a.m.
Misc.: Investigators release preliminary report into the engine blowout on Qantas A380 over Indonesia on Nov. 4.; Spain puts in place measures aimed at preventing need for bailout.
Dec. 2, 2010 at 5:52 p.m.
Filed under:
Autos,
Banking,
IPOs,
Taxes
By Associated Press
The Treasury Department has received an additional $1.8 billion in net proceeds from the sale of additional stock in General Motors. Get the full story »
Dec. 2, 2010 at 5:25 p.m.
Filed under:
Investing,
Venture capital
By Wailin Wong
LivingSocial, a deal-of-the-day company that’s seen as one of Groupon’s biggest rivals, said Thursday it has received a $175 million investment from e-commerce giant Amazon.
The Washington, D.C.-based start-up’s latest round of funding also included another $8 million from Lightspeed Venture Partners of Menlo Park, Calif. Lightspeed had previously led a $14 million round of funding for LivingSocial in April. Before that, the daily deal site had conducted two other rounds totaling $30 million.
LivingSocial said it plans to use the money for expansion. The daily deal site is in more than 120 markets, including cities in Europe and Australia, and projects its 2011 revenue at more than $500 million. Get the full story »
Dec. 2, 2010 at 5:13 p.m.
Filed under:
Earnings,
Jobs/employment,
Stock activity
By Reuters
Kroger Co. cut some prices in its latest quarter, fueling worries that the slow U.S. economic recovery will cause another flare-up in the supermarket industry’s intense and profit-denting price war. Get the full story »
Dec. 2, 2010 at 5:02 p.m.
Filed under:
Economy,
Media,
TV
By Reuters
U.S. Federal Reserve Chairman Ben Bernanke will appear on the news program “60 minutes” on Sunday, part of an effort by the central bank to step up its public communications.
The move comes as the Fed’s decision last month to purchase an additional $600 billion caused a flurry of criticism from politicians in Washington, who argue the central bank is playing with fire and courting future inflation. Get the full story »
Dec. 2, 2010 at 4:52 p.m.
Filed under:
Airplanes,
International,
Manufacturing
By Reuters
Aircraft suppliers Rockwell Collins and Goodrich said on Thursday they could gain new business as a result of this week’s announcement that EADS unit Airbus would upgrade its A320 plane with better engines that offer 15 percent fuel savings.
Airbus, the world’s largest plane maker, said it would spend roughly $1.3 billion to improve efficiency of the narrowbody aircraft. Its main rival Boeing is also mulling whether to upgrade its competing 737 plane. Get the full story »
By Reuters
Motorola CEO Sanjay Jha. (PRNewsFoto/Motorola, Andy Kuno)
Shares of Motorola fell 1.5 percent after it warned its cell-phone unit would post a loss in the first quarter, when key client Verizon Wireless is seen starting sales of Apple’s iPhone.
Analysts on Thursday cut their share price targets and earnings estimates for the company, which had only recently posted its first quarterly profit in years.
Motorola’s mobile chief and Co-Chief Executive Sanjay Jha flagged the loss during an investor conference late on Wednesday saying first quarter sales would involve a higher proportion of cheaper phones as the company looks to boost sales at U.S. operators such as AT&T, Sprint Nextel and T-Mobile USA. Get the full story »
Dec. 2, 2010 at 3:53 p.m.
Filed under:
Policy,
Politics,
Taxes
By Reuters
The House of Representatives on Thursday voted to extend Bush-era tax cuts on individual income up to $200,000 a year and $250,000 for families, letting extra cuts for the wealthiest to expire. Get the full story »
Dec. 2, 2010 at 3:26 p.m.
Filed under:
Policy,
Politics,
Sports
By Ameet Sachdev
The Chicago Cubs’ proposal to use tax dollars to finance more than $200 million in improvements at Wrigley Field has so far missed the strike zone, but the team’s ownership is not giving up.
When Cubs Chairman Tom Ricketts unveiled the plan last month, he had hoped for speedy legislative approval of his financing proposal that required the state to issue bonds on the team’s behalf. He said a bill could be introduced during the General Assembly’s veto session held the past few weeks in Springfield.
But the team’s concept never turned into a bill for lawmakers to consider, because of objections to how the bonds would be repaid. The General Assembly’s veto session ended Thursday morning. Get the full story »
Dec. 2, 2010 at 3:08 p.m.
Filed under:
Retail
By Associated Press
Dave Hibler, left, and Tyler Galganski work out of Hibler's parents basement in Brookfield, Wis., selling adult fleece onesies. (AP Photo/Carrie Antlfinger)
Two Wisconsin couch potatoes hope to wedge their way onto the Snuggie’s sofa with a line of comfort wear called the “adult onesie.”
Tyler Galganski and Dave Hibler are selling fleece, footless onesies with hoods called the “Forever Lazy” out of Hibler’s parents’ basement in Brookfield.
BusinessWeek’s website has called them some of “American’s Best Young Entrepreneurs.” They’ve also been on in “In Touch Weekly” magazine as “Fergie’s favorite way to cover up” after the singer ordered more than 20 for Christmas gifts. Get the full story »
