Moody’s Investors Service raised its ratings on UAL Corp. a notch, finishing the review of the airline it begun when the parent of United unveiled its deal to merge with Continental Airlines Inc. Get the full story »
Stericycle to pay $245M for healthcare waste firm
Medical waste disposal firm Stericycle, Inc said it has agreed to buy Healthcare Waste Solutions, Inc. for $245 million in cash.
Lake Forest-based Stericycle said Healthcare Waste “provides a resource management assessment and consulting program for all waste streams to healthcare providers.” Get the full story »
Whistleblower suit says Allstate cheated on claims
From The New Orleans Times-Picayune | A whistleblower suit alleging that Allstate Insurance Co. defrauded taxpayers by overbilling the National Flood Insurance Program has been unsealed in federal court in New Orleans.
Wall Street Journal says print, digital revenue up
From The New York Times | The Wall Street Journal says its revenue climbed 17 percent in the period since June.
The news bucks the overall downward trend in the newspaper business. Even print advertising revenue, which has been in steep decline at most newspapers for the past few years, grew more than 21 percent at the Journal.
Sep. 29, 2010 at 2:32 p.m.
Filed under: Consumer news, Health care, Investigations, Litigation, Updated State fines unlicensed firms selling health insurance
The Illinois Department of Insurance said it has taken steps to prohibit several companies from “marketing and selling non-comprehensive health insurance” in the state without a license. Get the full story »
Black’s lawyer urges court to throw out conviction
Conrad Black and wife Barbara Amiel in July of 2010, leaving the Dirksen U.S. Courthouse in Chicago. (Terrence Antonio James/Chicago Tribune/MCT)
Bloomberg News | Conrad Black’s 2007 convictions for fraud and obstructing justice should be thrown out because it’s impossible to tell whether jurors found him guilty under a now-invalid legal theory, his lawyer told a federal appeals court.
A three-judge panel in Chicago is hearing Black’s case today for the second time following a U.S. Supreme Court decision that narrowed the scope of the so-called honest services fraud statute, the law used to prosecute the former Hollinger International Inc. chairman.
“None of the fraud or obstruction convictions can survive examination of the trial record,” Black’s appellate lawyer, Miguel Estrada, told the judges during oral arguments. Prosecutors, in court filings, said there’s ample evidence to support Black’s conviction on other grounds. Get the full story »
House set to pass bill aimed at China’s yuan
The House was set to pass legislation Wednesday to put pressure on China to let its currency rise faster, fanning the flames of a long-running dispute over trade and jobs.
The bill, expected to get heavy support from Democrats but a mixed reaction from Republicans, treats China’s exchange rate as a subsidy. That would open the door to extra duties on Chinese goods entering the United States, some of which are already subject to special levies. Get the full story »
FedEx to raise rates on Express, freight
FedEx Corp , the world’s largest cargo airline, said it would raise shipping rates on its Express and Freight services as the company hosted investors at its Memphis headquarters on Wednesday. Get the full story »
Fed divided on whether it should ease support
U.S. Federal Reserve officials on Wednesday offered differing views on whether the U.S. central bank should do more to support the economy and what impact more easing could have. Get the full story »
Family Dollar outlook tops view, plans more stores
Family Dollar Stores Inc. forecast profit for the current fiscal year that would beat most analyst estimates and said it will speed up the pace of new store openings, sending its shares up 2.5 percent. The retailer, which prices most of its goods under $10, has attracted consumers struggling in a weak economy. It expects to reap the sales benefit of longer store hours, introduced earlier this year, and an overhaul to give more room to fast-moving items like food. Get the full story »
AIG could announce exit plan in days
American International Group is close to finalizing a plan for the U.S. government to sell its stake in the insurer and is hoping it will yield a profit for taxpayers who bailed out the company, Chairman Steve Miller said on Wednesday. Get the full story »
U.S. business groups sue SEC over proxy access
The U.S. Chamber of Commerce and the Business Roundtable sued the Securities and Exchange Commission Wednesday over its rule giving shareholders an easier way to influence corporate boards. Get the full story »
