Hewitt Associates completed its acquisition of investment advisory firm EnnisKnupp, the company said Thursday.
Terms of the deal, first announced July 20, have not been disclosed.
CME Group’s August average volume up 15%
Derivatives exchange operator CME Group Inc. said Thursday its August volume averaged 11.7 million contracts per day, a 15 percent increase from a year ago.
Total volume was 258 million contracts, with 82 percent traded electronically.
MB completes deal serving minors, disabled
Chicago-based MB Financial Bank has completed its acquisition of the Illinois guardianship and special needs trust business of U.S. Trust, an arm of Bank of America. Get the full story »
Kia recalling Soul, Sorento autos for wiring fix
Kia Motors is recalling about 35,000 Soul and Sorento vehicles to fix wiring in the interior lighting panels that could lead to fires. Get the full story »
Sep. 2, 2010 at 4:15 p.m.
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Filed under: Advertising/Marketing, Design, Media, Newspapers Michael Arndt named managing editor of Crain’s
Crain’s Chicago Business has named Michael Arndt its new managing editor, replacing Brandon Copple, who left in June for a similar role at Groupon.com. Arndt most recently was Chicago-based editor for innovation and design coverage at Bloomberg Businessweek, a role he assumed with BusinessWeek before that magazine’s acquisition by Bloomberg last year. A senior correspondent in the Chicago bureau, he also served as editor-in-chief of BW Chicago, BusinessWeek’s experiment with a local monthly supplement, which ended after seven months in June 2008.
Apple TV could help Netflix growth
Shares in Netflix Inc. neared their all-time high on Thursday, after Apple Inc. said that the company’s streaming video service would be added to a new version of Apple TV.
The tie-in with Apple TV, a smaller, cheaper version of Apple’s earlier web-to-TV product, could cement Netflix’s dominance in the online movie rental business. Get the full story »
Verizon to offer no-contract plans for many phones
Verizon Wireless said Thursday it will offer no-contract data plans for many of its 3G multimedia phones and smartphones, including those from its premier Droid line of devices.
The prepaid data package costs $30 a month for unlimited access. For $10 a month, customers can get a data plan for their multimedia phones, or those that aren’t designed for intense Web browsing as smartphones are. The $10 data plan is capped at 25 megabytes a month.
The prepaid segment has grown rapidly in the last few years, fueled both by recessionary pressures on consumers and newer generations of phone users that dislike being tethered to a two-year contract. Major carriers such as Verizon have traditionally focused on post-paid subscribers, who tend to be a more reliable and lucrative source of revenue. But with increased competition from no-contract carriers such as Cricket Wireless, Boost Mobile and Virgin Mobile, which have smartphones in their line-ups in addition to no-frills handsets, other companies have started to sweeten their prepaid offerings as well. Get the full story »
Burkle to keep fighting Barnes & Noble poison pill
Billionaire investor Ron Burkle plans to appeal a Delaware court ruling that upheld a “poison pill” put in place by bookseller Barnes & Noble Inc.
Burkle, Barnes & Noble’s second largest shareholder with 18.8 percent, is locked in a proxy battle with the largest U.S. bookstore chain. He is seeking to install three directors, including himself, at the company’s annual meeting this month. Get the full story »
Delta to upgrade seats in 747 business class
Delta Air Lines Inc. plans to upgrade the seats on its Boeing 747s next summer, while cutting the number of seats in the plane’s most expensive cabin.
Delta detailed the changes Thursday, which are part of a $1 billion plan announced in January to overhaul seats and make other customer improvements. Get the full story »
Employee health costs up 14%, survey finds
Strained by rising health care costs and the sour economy, U.S. employers are pressing workers to shoulder the added burden alone as employees pay higher insurance premiums and more out-of-pocket expenses for their medical care.
The average employer-provided family health plan now costs workers nearly $4,000 a year, up 14 percent from last year, according to a survey by the nonprofit Kaiser Family Foundation and the Health Research and Educational Trust.
That is the largest annual increase since the survey began in 1999 and a marked change from previous years when employers generally split the cost of rising premiums with their employees.
Sep. 2, 2010 at 1:54 p.m.
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Filed under: Cell phones, Computers, Entertainment, Technology, Telecommunications, Wireless Google reported in talks for iTunes competitor
Google Inc. is in talks with music labels on plans for a download store and a digital song locker that would allow its mobile users to play songs wherever they are as it steps up its rivalry with Apple Inc., according to people familiar with the matter.
Google Vice President of Engineering Andy Rubin has been leading conversations with the labels about what a new Google music service would look like, according to these sources. Get the full story »
CPSC: No link between new Pampers, rashes
Government safety officials have not found a connection between a new kind of Pampers diapers and the severe skin reactions reported by some parents’ groups.
The Consumer Product Safety Commission said Thursday that it has reviewed 4,700 complaints but found no specific cause linking Pampers diapers with new Dry Max technology to diaper rash. Get the full story »
Sep. 2, 2010 at 1:19 p.m.
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Filed under: Computers, Internet, Telecommunications, Wireless Google, AOL extend Web search pact
Google Inc. and AOL Inc. have agreed to extend their search partnership for five years and expanded their pact into mobile search and online video, two areas expected to grow as the media business transitions to digital communications.
The deal helps Google protect its dominant share of the fast-growing Web search business from smaller competitors, including Microsoft Corp. and IAC/InteractiveCorp. Get the full story »
Ferrari recalls all 458 Italias over fire risk
Fiat President Luca di Montezemolo introduces the Ferrari 458 Italia in Frankfurt in 2009. (AP file)
Ferrari is recalling its new 458 Italia model after several vehicles were reported to have burst into flames.
A Ferrari spokesperson told CNNMoney.com has that the supercar is being recalled to modify the wheelhouse assembly.
“In rare instances the heat shield could become deformed, bringing it too close to the exhaust system and igniting,” a Ferrari spokesperson said.
NU medical school dean to head to Penn
Dr. Larry Jameson
Dr. Larry Jameson, dean of the Northwestern Medical School, has been named executive vice president of the University of Pennsylvania for the Health System and dean of the university’s medical school, Penn confirmed Thursday.
The appointment is effective July 1, 2011. Get the full story »
