George Soros, the multibillionaire investor, will donate $1 million to help pass Proposition 19, the marijuana legalization measure, which he endorsed Monday as “a major step forward.”
Online travel coalition fights Google’s ITA deal
Several leading Internet travel agencies and search engines are urging U.S. government regulators to block Google from buying a technology supplier that plays an instrumental role in finding the best airline fares. The opponents, led by Expedia Inc., have formed a coalition called FairSearch.org to fight Google Inc.’s proposed $700 million acquisition of ITA Software.
Glaxo to pay $750M in Paxil settlement
Federal prosecutors in Massachusetts say British drug maker GlaxoSmithKline PLC will pay $750 million to settle allegations that its subsidiary manufactured and sold adulterated drugs, including the popular antidepressant Paxil.
U.S. Atty. Carmen Ortiz on Tuesday announced that GlaxoSmithKline has agreed to settle civil and criminal charges related to the subsidiary in Puerto Rico. Get the full story »
Hell’s Angels sue Saks, Alexander McQueen
Bloomberg News | The Hell’s Angels have sued Alexander McQueen and Saks, charging trademark infringement over use of the club’s death-head mark on fashion accessories.
New round of U.S. loans reported for Chrysler
Chrysler, the once-bankrupt U.S. automaker that received billions in government aid last year, will soon get new federal loans to help retool factories to make more fuel efficient vehicles, according to sources familiar with the matter.
The timing of the Energy Department award to Chrysler is fluid, but sources with knowledge of the financing and the industry say the automaker will likely receive approval for new credit before General Motors Co. Get the full story »
Ford, GM gaining on Toyota, Honda in reliability
Consumer Reports magazine says Honda and Toyota still make the most problem-free cars and trucks, but Ford is closing in fast and General Motors has made big improvements in the past year. Get the full story »
Google’s Schmidt: ‘I misspoke’ on Street View
Marketwatch.com | In attempting to remove the foot he placed in his mouth on CNN last week, Google CEO Eric Schmidt assured people they could have their house removed from the search engine’s Street View if its presence there worries them.
Tellabs profit doubles in 3Q, shares stumble
Shares of Tellabs were down more than 14 percent in afternoon trading Tuesday after the communications equipment maker reported a strong gain in third-quarter profit but its fourth-quarter projections worried investors.
Naperville-based Tellabs said it earned $57 million, or 15 cents a share, in the third quarter, compared with $29 million, or 7 cents a share, in the year-ago period. Revenues during the quarter rose 10 percent to $429 million. Get the full story »
Oct. 26, 2010 at 12:56 p.m.
Comments Off
Filed under: Cell phones, Consumer electronics, Credit Cards, Retail, Software, Technology, Telecommunications, Wireless PayPal software to let users pay with their phones
EBay Inc.’s online payments unit PayPal on Tuesday unveiled new software that will let people to use their phones to make payments, as well as a new platform that will make it easier for consumers to pay for digital media, music and games. Get the full story »
FDA warns Mead Johnson about Enfamil package
The Food and Drug Administration warned Mead Johnson Nutrition Co. about the packaging for some of the company’s Enfamil infant formulas.
In a letter dated Oct. 18 that was posted to the agency’s Web site Tuesday, FDA said Mead Johnson didn’t give the FDA product specifications about a new plastic tub and lid used to store certain types of powdered Enfamil. Get the full story »
Swaps clearing process clears first CFTC hurdle
The Commodity Futures Trading Commission on Tuesday approved a proposal to establish a process for deciding which swaps or class of swaps should be submitted to clearinghouses.
The proposal, approved 5-0, will be published for comment. A second vote is needed to implement it. Get the full story »
Drugmaker Bristol-Myers sees 3Q profit dip
Bristol-Myers Squibb Co. posted a slight decline in third-quarter profit Tuesday as its restrained spending was offset by flat sales of its drugs, lower income from its partners and bigger discounts to government because of the health care overhaul.
Sox pitcher Buehrle on billboard for pet adoption
It may be off-season but White Sox pitcher Mark Buehrle is headed back to billboards with a message for Chicago-area residents. Buehrle and his wife, Jamie, have partnered with Adopt-A-Pet.com to launch a local public service billboard and television campaign promoting the adoption of shelter pets. Get the full story »
BMW to recall 150,000 vehicles in U.S.
BMW AG said Tuesday that it would recall more than 150,000 vehicles in the United States due to the possibility of fuel pump failures.
BMW said some 130,000 of its 2007 to 2010 model year vehicles equipped with twin-turbo six-cylinder engines would be recalled for software updates and a potential replacement of a high-pressure fuel pump. Get the full story »
Judge: Free speech protects Amazon buyers’ data
A federal judge says constitutional free-speech rights protect Amazon.com customers from North Carolina tax collectors who wanted to learn what they bought from the online retailer.
