Oct. 13, 2010 at 4:37 p.m.
Filed under:
Internet,
Retail,
Unions,
Updated
By Sandra M. Jones
Wal-Mart Stores Inc. plans to unveil Thursday free delivery of purchases made through its web site to Chicago FedEx offices — a move aimed at reaching urban consumers.
The world’s largest retailer launched the pilot program, called FedEx Site-to-Store, this summer in Boston and Los Angeles. The test expands this week to Chicago, New York, San Francisco and Washington, D.C.. There will be 40 FedEx sites participating in the Chicago market, concentrated in the city with a smattering of sites in the suburbs, according to Wal-Mart spokesman Ravi Jariwala. Get the full story »
Oct. 13, 2010 at 3:57 p.m.
Filed under:
Airlines,
Airplanes,
Airports,
China,
International
By Julie Johnsson
United Airlines said Wednesday it had gained federal approval to begin daily flights from Los Angeles to Shanghai in little more time than it takes to fly between the two cities.
The speedy review of United’s request, completed a day after the Chicago carrier asked for permission to launch the new China service next year, is in contrast to the lengthy lobbying battles over access to China’s booming market that played out during the 1990s and in the 2000s.
Earlier this month, the U.S. Department of Transportation had needed just six days to approve a request by American Airlines to fly from Los Angeles to Shanghai. Get the full story »
By Reuters
Mobile phone companies would have to warn customers before they rack up eye-popping extra fees on their bills under rules that the U.S. Federal Communications Commission will propose Thursday.
The FCC wants to curb so-called bill shock by making mobile phone companies send text or voice alerts to customers before charging them for services not covered by their plans.
“Our core goal is to make it easy for consumers to determine their destiny when it comes to their services and their monthly bills,” said FCC Chairman Julius Genachowski. Get the full story »
Oct. 13, 2010 at 3:37 p.m.
Filed under:
IPOs
By Reuters
Shares of General Motors Co. are likely to be priced between $20 and $25 in the initial public offering by the automaker in November, Chairman Ed Whitacre said on Wednesday.
“It’s a little too early to say, but it is going to be somewhere in the $20 range…$20, $25, something like that would be my guess,” Whitacre said when asked what the price of the GM stock should be in the IPO. Get the full story »
Oct. 13, 2010 at 2:37 p.m.
Filed under:
Real estate,
Updated
By Reuters
Protestors at a foreclosure and eviction rally in Menlo Park, Calif., Sept. 24, 2010. (AP Photo/Paul Sakuma)
All 50 states launched a joint investigation of the mortgage industry on Wednesday, a move some experts fear will cause uncertainty and threaten the recovery of the fragile housing market.
The state attorneys general are looking at allegations some banks used shoddy or fraudulent paperwork to remove struggling borrowers from their homes during a foreclosure crisis that is one of the most visible wounds of the 2007-2009 recession.
“We are in the fourth year of a housing and economic crisis that was brought on by lax practices of the mortgage lending industry,” Minnesota Attorney General Lori Swanson said in a statement. “The latest allegations of corner cutting and slipshod paperwork are troubling, but perhaps not surprising.” Get the full story »
Oct. 13, 2010 at 2:26 p.m.
Filed under:
Computers,
Investing,
Stock activity,
Updated
By Reuters
Apple Inc.’s shares cruised past $300 for the first time as investors anticipated another strong earnings report from the iPhone maker next week. Get the full story »
Oct. 13, 2010 at 1:05 p.m.
Filed under:
Chicago executives,
Education,
Fraud
From Crain’s Chicago Business | Hedge fund operator Steven Stevanovich, a University of Chicago trustee who once donated $7 million to the school, has been accused in a lawsuit of reaping at least $323 million in “false profits” by participating in a Ponzi scheme. Stevanovich’s attorney and a spokesman for the U. of C. did not immediately return calls. Get the full story>>
Oct. 13, 2010 at 12:53 p.m.
Filed under:
Exchanges,
Government,
Regulations
By Reuters
The top U.S. securities regulator Wednesday took its first stab at policing the $615 trillion over-the-counter derivatives market with a plan to mitigate conflicts of interests at venues that will handle the swaps.
The Securities and Exchange Commission voted 5-0 to propose ownership limits on the swaps trading venues and clearinghouses, which will assume the risk if one party defaults. Get the full story »
Oct. 13, 2010 at 11:43 a.m.
Filed under:
Retail,
Stock activity
By Reuters
U.S. drugstore chain Walgreen Co. said its board has approved a buyback of $1 billion shares and set a regular quarterly dividend. Get the full story »
Oct. 13, 2010 at 10:57 a.m.
Filed under:
Health care,
Pharmaceuticals
By Associated Press
Qiagen NV said Tuesday it will receive kits for a molecular test for HIV-1 in a deal with Abbott Laboratories. Financial details of the deal were not disclosed.
Oct. 13, 2010 at 10:39 a.m.
Filed under:
Exchanges,
Stock activity
By Reuters
CBOE Holdings Inc. on Wednesday said it was launching two concurrent tender offers for its class A-1 and class A-2 common stock each at a price of $22.50 per share. Get the full story »
Oct. 13, 2010 at 10:31 a.m.
Filed under:
Jobs/employment,
Policy,
Politics,
Retail
By Reuters
Wal-Mart Stores Inc. won the right to open two more stores in Chicago this year, but does that mean the world’s largest retailer can eventually take Manhattan?
In remarks at the start of a two-day analyst meeting, Leslie Dach, Wal-Mart’s executive vice president for government affairs and corporate relations, said the retailer’s reputation has shown improvement with both consumers and elected officials. Get the full story »
Oct. 13, 2010 at 10:28 a.m.
Filed under:
Airlines,
Airplanes,
Airports,
International
By Reuters
Leading airlines have called on Europe and the United States to cap export credits on the sale of passenger jets at 20 percent in the latest ripple of a growing spat over multi-billion-dollar subsidies.
U.S. and European airlines say their Gulf rivals get subsidies and export credits that allow them to grow at a breakneck pace and take market share. Get the full story »
By Wailin Wong
A mobile application that combines games and perks at local businesses is launching Wednesday in Chicago with the Chicago Office of Tourism and other area institutions.
SCVNGR is the latest location-based service to enter the Chicago market. These apps, which allow consumers to “check in” at local businesses, have become increasingly popular, thanks to the rise of companies such as Foursquare and Gowalla. Yelp and Facebook have also added location-based features to their offerings. The SCVNGR app is available for both the iPhone and Android-based phones. Get the full story »
Oct. 13, 2010 at 9:45 a.m.
Filed under:
Consumer electronics,
Investing,
Retail
By Associated Press
Wal-Mart Stores Inc.’s warehouse unit Sam’s Club will sell Apple’s iPad and iPhone.
The world’s largest retailer said at an investor meeting in Wednesday it is expanding Sam’s Club electronics and jewelry sections and will carry the popular tablet computer. Get the full story »
