Two major Japanese automakers — Toyota Motor Corp. and Honda Motor Co. – said Thursday that they were recalling millions of vehicles to fix brakes that could leak fluids and hamper stopping power.
Toyota is calling back and repairing free 1.53 million Avalon, Highlander and Lexus vehicles. Honda said it was recalling an undetermined number of Acura sedans and Odyssey minivans. Get the full story »
New York Times | London’s Kinder Aggugini will be the first designer to participate in a new program at Macy’s, which will rotate designer collections at 250 stores, including in Chicago, every two months to lure young shoppers. The collaborations begin in February.
ANY retailer on earth would just about die to create the kind of consumer craze that takes place when H & M introduces a discount designer collaboration (like the heavily touted one from Lanvin coming on Nov. 20). The high-low concept has worked well for Target, Gap and Uniqlo, but the latest store to delve into fast fashion is a bit unexpected in that it is the classically mainstream Macy’s.
Kinder Aggugini, pictured with his mood board, is collaborating on a line for Macy’s.
Kinder Aggugini’s inspiration board.
Macy’s is expected to announce today that it will sell a series of limited-edition designer collections, beginning in February. Each will be on sale for about two months, until the next collaboration is announced. The first is by
Three of the biggest U.S. television broadcasters have blocked their shows from Google Inc.’s new Web TV service, throwing a wrench into the company’s plans to expand from computers to the living room.
Spokespeople from Walt Disney Co. and NBC Universal confirmed Thursday that they blocked access to its broadcast TV shows from Google TV. Disney owns network and cable TV businesses ABC and ESPN. Get the full story »
Barnes & Noble Inc. will ship its Nook electronic readers to 2,500 Wal-Mart stores this month to reach more shoppers ahead of the holiday season.
The devices will hit Wal-Mart shelves as soon as Oct. 24 and will be available on the discount chain’s Web site, the world’s largest bookstore chain said in a statement Thursday. Get the full story »
Crain’s Chicago Business | Starbucks has bought out the 50 percent stake of Earvin “Magic” Johnson in a venture designed to bring the coffee shops to underserved areas including Bronzeville.
Office Depot Inc., its chief executive and a former executive agreed to collectively pay more than $1 million to settle regulator’s charges of improper disclosures, the Securities and Exchange Commission said Thursday.
The SEC had accused the company, its CEO Stephen Odland and former chief financial officer Patricia McKay of conveying to analysts and big investors that the company would not meet analysts’ earning estimates for the second quarter of 2007. Get the full story »
Less than a year after taking the chief marketing job at Allstate Corp., Mark LaNeve is taking on a greater role at the Northbrook-based home and auto insurer.
As part of a leadership shakeup, the former General Motors Corp. sales executive will also oversee Allstate’s agency sales operations, in addition to his current role in marketing. The combined marketing and sale unit will report to both Chief Executive Tom Wilson and to Joe Lacher, president of Allstate Protection. Get the full story »
The U.S. government is urging owners of recalled Ford Motor Co. vehicles linked to engine fires to get them fixed.
The National Highway Traffic Safety Administration says about 17.5 million Ford vehicles have been recalled since 1999 over faulty cruise control switches. The switches can overheat and lead to a fire. Get the full story »
Rupert Murdoch’s News Corp. has put on hold ambitious plans to create a subscription online newsstand, after failing to attract enough interest among other news organizations, a person familiar with the plan said.
The owner of the Times of London, Fox News and the Wall Street Journal will reassign the staff working on “Project Alesia,” which aimed to charge readers for a bundle of newspaper and magazine digital content.
The source said News Corp was unable to reach a “critical mass” of publishers to support the plan. Get the full story »
Caterpillar Inc. reported stronger-than-expected earnings on Thursday and raised its full-year forecast, but warned that a number of factors could weigh on its performance next year, and its shares fell as much as 2.8 percent.
The world’s largest maker of earth-moving equipment, which last year had its worst one-year decline in sales since the Great Depression, said it expected sales next year to snap back to pre-recession levels. Get the full story »
The Canadian province that is home to Potash Corp. said on Thursday it was opposed to a $39 billion bid by BHP Billiton to buy the world’s largest fertilizer supplier.
Saskatchewan will urge the federal government to block the Anglo-Australian miner’s hostile bid for Potash Corp, which is based in the province. Get the full story »
The Department of Labor says it wants to expand the number of consultants and advisers it can hold legally responsible for the advice they give retirement plan providers. Get the full story »
General Growth Properties’ reorganization plan was approved on Thursday, paving the way for the mall operator to exit bankruptcy a year and a half after it was brought to its knees under billions in debt it could not refinance.
General Growth said it expected to emerge from bankruptcy around Nov. 8. It then would turn its attention to a $2.25 billion share sale to raise capital. Get the full story »
Regional bank operator PNC Financial Services Group Inc. said Thursday that its third-quarter income nearly doubled as it set aside sharply less money to cover bad loans. Get the full story »
