Nov. 9, 2010 at 1:43 p.m.
Filed under:
Agriculture/Farming,
Energy,
Food,
Government
By Reuters
Livestock producers and food industry groups filed a suit on Tuesday seeking to overturn a U.S. decision to allow higher levels of ethanol in gasoline, saying it could push up food prices.
The Grocery Manufacturers Association, the National Meat Association and other groups sued the Environmental Protection Agency, saying regulators overstepped their authority when they ruled last month that gasoline retailers could sell fuel containing up to 15 percent ethanol, up from 10 percent now. Get the full story »
Nov. 9, 2010 at 1:42 p.m.
Filed under:
Criminal charges,
Government,
Pharmaceuticals
By Reuters
A former lawyer for pharmaceutical giant GlaxoSmithKline Plc has been indicted on charges of lying and obstructing an investigation into the company’s promotion of an anti-depressant drug, the U.S. Justice Department said Tuesday.
The lawyer, Lauren Stevens, was indicted on four counts of making false statements, one count of obstruction of justice and one count of falsifying and concealing documents related to Glaxo’s promotion of the drug for weight loss, which had not been approved by the Food and Drug Administration. Get the full story »
Nov. 9, 2010 at 1:10 p.m.
Filed under:
Government,
Taxes
By Associated Press
Bipartisan leaders in Congress are vowing to spare more than 21 million taxpayers from significant tax increases when they file their returns next spring by adjusting the alternative minimum tax before the end of the year. Get the full story »
Nov. 9, 2010 at 1:06 p.m.
Filed under:
Cell phones,
Telecommunications,
Wireless
By Los Angeles Times
AT&T on Tuesday cut the price of Research In Motion’s BlackBerry Torch in half, down to $99.99.
The cut comes about three months after the smart phone landed on AT&T store shelves and amid intense price competition from Web sites such as Wirefly.com, which is offering the Torch for $29.99, and Amazon.com, which is selling the smart phone for 1 cent.
Nov. 9, 2010 at 12:58 p.m.
Filed under:
Banking,
Government,
Investigations,
Mortgages
By Associated Press
Industry regulators have fined Goldman Sachs $650,000 for failing to disclose that two of its brokers, including the executive accused of leading the mortgage securities deal that brought civil fraud charges against the firm, were under investigation by the government.
The Financial Industry Regulatory Authority announced the fine Tuesday, saying Goldman lacked adequate procedures to ensure that the required disclosure was made for Fabrice Tourre, a Goldman vice president. Goldman made that report in May, more than seven months after Tourre received a notice from the Securities and Exchange Commission that it was considering filing charges against him, FINRA said. Get the full story »
Nov. 9, 2010 at 12:38 p.m.
Filed under:
Government,
Hotels,
Regulations
By Reuters
Hilton Worldwide Inc. agreed to settle charges that it violated requirements that its hotels be accessible to people with disabilities and agreed to bring them into compliance, the Department of Justice said Tuesday.
The settlement covers about 900 hotels in the United States built after Jan. 26, 1993, including those owned as part of franchises, and Hilton will also pay a $50,000 civil penalty, the department said. Get the full story »
Nov. 9, 2010 at 11:46 a.m.
Filed under:
Airlines
By Reuters
Qantas Airways is reviewing the way it operates its A380s after last week’s engine blowout, a source said on Tuesday, amid reports the carrier worked its Rolls-Royce engines harder than rivals. Get the full story »
Nov. 9, 2010 at 11:32 a.m.
Filed under:
Investing,
Real estate
By Reuters
Goldman Sachs Group Inc.’s mortgage servicing unit has suspended evictions and foreclosures in some states, according to a regulatory filing on Tuesday. Get the full story »
Nov. 9, 2010 at 11:19 a.m.
Filed under:
Earnings,
Health care
By Associated Press
Health care information technology company Allscripts-Misys Healthcare Solutions Inc. said Monday that its third-quarter net income plunged on a boost in costs and charges. Get the full story »
Nov. 9, 2010 at 11:02 a.m.
Filed under:
Agriculture/Farming,
M&A
By Reuters
A U.S. court will rule on Potash Corp.’s request for a preliminary injunction against unsolicited suitor BHP Billiton ahead of the November 18 deadline on the Anglo-Australian miner’s $39 billion tender offer, Judge David Coar said on Monday. Get the full story »
Nov. 9, 2010 at 10:45 a.m.
Filed under:
Mortgages,
Real estate
ELITE STREET | By Bob Goldsborough | The landmarked, 9,768-square-foot Francis J. Dewes mansion in Lincoln Park has hosted weddings and exclusive parties for years. It has now become available for $9.9 million
Developer Fred Latsko took control of the five-bedroom mansion about seven years ago, when he acquired its mortgage and foreclosed on it. Since then, Latsko has completely restored the grandiose German Baroque and French-style mansion, which was finished in 1896 and added to the National Register of Historic Places in 1973. Get the full story »
By Wailin Wong
A meal from Reza's Restaurant delivered to Tribune food critic Phil Vettel through GrubHub, Jan. 24, 2008. (Abel Uribe/Tribune)
GrubHub, the Chicago-based technology start-up that connects consumers with restaurants that deliver to their neighborhood, has raised $11 million in its third and largest round of venture-capital funding.
The company received the funding from Benchmark Capital, a Menlo Park, Calif.-based firm that has also backed companies such as restaurant reservation service OpenTable, review site Yelp and real estate site Zillow. GrubHub launched in 2006 and had previously raised $3.1 million in two rounds of funding from Origin Ventures, Leo Capital and Amicus Capital. Origin Ventures and Leo Capital are both based in Northbrook.
Matt Maloney, GrubHub’s co-founder and chief executive, said the company was looking for funding to expand into new cities and develop new products and features in areas such as mobile applications. Get the full story »
Nov. 9, 2010 at 10:08 a.m.
Filed under:
Airlines,
Airplanes,
Airports
By Julie Johnsson
Virgin America is once again looking to land at Chicago’s O’Hare International Airport in 2011, provided it can finalize an agreement with the city of Chicago to take over gates vacated by Delta Air Lines last year.
Virgin America CEO David Cush said Tuesday that talks were progressing and he was optimistic the carrier would begin daily flights from Chicago to Los Angeles and San Francisco next April.
“I think the city has certainly moved the process forward,” said Cush, saying he expected to hammer out an agreement in the next 30 to 45 days. “I’m more encouraged today than I was 60 days ago.” Get the full story »
Nov. 9, 2010 at 9:59 a.m.
Filed under:
Earnings,
Magazines,
Media
By Reuters
Playboy Enterprises Inc. reported a wider-than-expected quarterly loss as revenue from its entertainment, and print and digital businesses continued to decline, but said it expects Playboy magazine advertising pages to rise about 7 percent in the current quarter. Get the full story »
Nov. 9, 2010 at 9:26 a.m.
Filed under:
Food,
Packaged foods,
Updated
By Associated Press
A shopper passes shelves of Sara Lee bread at a Chicago market . (AP Photo/M. Spencer Green)
Sara Lee Corp. is selling its North American Fresh bakery unit to baking company Grupo Bimbo for $959 million as it looks to concentrate more on its coffee and meat businesses.
The Downers Grove-based maker of Jimmy Dean sausages and Sara Lee breads said Tuesday that the sale will allow it to aggressively expand other businesses through acquisitions and other means. Get the full story »
