The Federal Communications Commission is requesting more information from Comcast Corp. and NBC Universal. Regulators are reviewing the cable operator’s plan to acquire a controlling stake in the media company. Get the full story »
Oct. 4, 2010 at 4:53 p.m.
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Filed under: Corporate governance, Government, Litigation, Regulations SEC delays proxy access rule during challenge
U.S. regulators Monday delayed implementation of their rule giving shareholders more power to influence corporate boards, a win for business groups trying to overturn the rule.
The U.S. Chamber of Commerce and Business Roundtable sued the Securities and Exchange Commission last week, saying its recently adopted rule was arbitrary and capricious. Get the full story »
Bernanke: Fed moves are boosting economy
The Federal Reserve’s asset purchases lowered borrowing costs and helped the economy, and more buying could further ease financial conditions, Federal Reserve Chairman Ben Bernanke said on Monday.
“I don’t have a number to give you, but I do think that the additional purchases, although we don’t have precise numbers, have the ability to ease financial conditions,” Bernanke said. Get the full story »
Ex-Chicagoan Costolo to take over at Twitter
Dick Costolo (Getty Images)
Former Chicagoan Dick Costolo has been elevated to chief executive of Twitter, where he had been chief operating officer for the last year.
Twitter co-founder Evan Williams, who had been CEO of the microblogging service since 2008, announced the change Monday on the company’s official blog. Williams said he’s staying with Twitter and will “be completely focused on product strategy.” Get the full story »
Navigant buys EthosPartners for $37 million
Navigant Consulting Inc., a consulting firm that provides dispute resolution and financial and regulatory advice, said Monday it bought EthosPartners Healthcare Management Group Inc. for $37 million.
BHP Potash bid backed in report over Chinese foray
A takeover of Potash Corp. by BHP Billiton could cost Saskatchewan $1.96 billion over 10 years, a report says, but it warns the Canadian province against opposing the miner’s bid for the world’s largest fertilizer producer. Get the full story »
Oct. 4, 2010 at 2:22 p.m.
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Filed under: Airlines, Airplanes, Airports, Policy, Politics, Stock activity Airline stocks fall on fuel prices, market dip
Shares of U.S. airlines fell Monday. Although the Obama administration issued a terrorism alert for Americans travelling to Europe, the more likely culprits were higher jet fuel prices and a broader stock market downturn. United, Continental, American and Delta said they weren’t seeing unusual numbers of cancellations and were operating their full schedules of flights to and from Europe on Monday.
Obama says U.S. fiscal situation is ‘untenable’
From left to right, Paul Volcker, Jill Biden, President Barack Obama, and Penny Pritzker at Monday's meeting of his economic advisory board. (Chip Somodevilla/Getty Images)
President Barack Obama on Monday said the United States was facing an “untenable fiscal situation” and would have to get serious about tackling its federal deficit.
The U.S. budget deficit is forecast at a record $1.47 trillion in the fiscal year that ended on Sept. 30, 2010.
Obama said that emergency government spending measures he took to support growth and hiring when he took office last year had temporarily added to the funding gap, but the deficit had to be tackled going forward. Get the full story »
Oct. 4, 2010 at 12:48 p.m.
Filed under: Consumer news, Credit Cards, Investigations, Policy, Politics, Small business American Express sued by U.S. over card fees
The Justice Department sued American Express on Monday for allegedly violating antitrust law over credit card acceptance rules, and settled with Visa and MasterCard on the same issue.
The Justice Department, in a filing with the U.S. District Court for the Eastern District of New York, said the case was focused on credit card companies’ efforts to stop merchants from steering customers to credit cards with lower fees imposed on the merchant.
In a proposed final judgment, Visa and MasterCard must allow merchants to offer discounts to customers who use cards that charge the stores less. Get the full story »
Bears’ loss scores big with Ch. 5
Tower Ticker | Even in loss, the Bears are big winners with Chicago views with more than half the local TVs tuned to WMAQ-Ch.5 during the game Sunday night.
Oct. 4, 2010 at 11:22 a.m.
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Filed under: Airlines, Government, International, Tourism, Travel Business as usual at U.S. airlines after travel alert
U.S. airlines Monday said their flights and schedules were unaffected by the U.S. State Department alert issued Sunday to warn American tourists of the potential for attacks by al-Qaeda and other groups in Europe. Get the full story »
Chevy, Busch lead World Series advertisers
Fox Broadcasting has sold about 90 percent of the commercial time for Major League Baseball’s World Series, with automakers, phone companies and financial services firms buying advertising for postseason games. Get the full story »
Analyst: Northern Trust easy pickings
The Street | Saying U.S. assets are attractive to Swiss banks, Rochdale analyst Richard Bove says Credit Suisse should buy Northern Trust. He cites the Chicago institution’s cash balance and inability to “withstand a takeover bid.”
Grant Thornton picks up Huron practice
Grant Thornton LLP said it bought the assets of Huron Consulting Group’s disputes and investigations practice for an undisclosed sum. Get the full story »
