Bristol-Myers Squibb may win U.S. approval as early as this week for the first drug shown to extend survival for patients with a deadly form of skin cancer. Get the full story »
Block 37 sold to Bank of America
Pedestrians pass Block 37 in the Loop. (Antonio Perez/Tribune)
Block 37, the star-crossed shopping center in the Loop, was sold at a sheriff’s auction Wednesday to Bank of America for $100 million.
The sale means Bank of America will take title to the four-level mall at 108 N. State St., officially ending Chicago-based developer Joseph Freed and Associates’ ownership of the property.
In December, Cook County Circuit Court Judge Margaret Ann Brennan ordered Freed to surrender the retail center to a group of lenders led by Bank of America, bringing to a close a more-than yearlong effort to foreclose on the mall. Get the full story »
FDA bans some food imports from Japan
The Food and Drug Administration is banning imports of milk and fresh fruit and vegetables from areas near the Fukushima Daiichi nuclear plant that was damaged by the March 11 earthquake and tsunami. Get the full story »
State tax collections down slightly in fiscal 2010
State government tax collections dropped $14.3 billion in the last budget year, the U.S. Census said Wednesday in another sign state revenues have yet to recover from their recent collapse. Get the full story »
Boeing: No 787, 747 fall-out from Japan quake
Japan’s natural and man-made disasters haven’t affected aircraft production at Boeing Co., or slowed flight-testing of its 787 Dreamliner and 747-8 jumbo jets, an executive of the aerospace manufacturer said Wednesday. Get the full story »
New home sales plunge to record low in February
New U.S. single-family home sales unexpectedly fell in February to hit a record low and prices were the lowest since December 2003, showing the housing market slide continues. Get the full story »
Motorola Mobility to acquire Swedish firm
Libertyville-based Motorola Mobility Inc. said Wednesday it plans to acquire a Swedish company specializing in software for Internet Protocol Television. Get the full story »
Caterpillar may sell part of logistics subsidiary
Heavy-equipment maker Caterpillar Inc. says it is considering selling off part of its logistics subsidiary, so it can focus on its core business. Get the full story »
Netflix back up after 4-hour outage
Netflix Inc. suffered a service outage Tuesday night that left customers unable to view movies or television shows through its online streaming service or through devices such as Roku. The California-based content provider said Wednesday that the service was fully restored.
“Netflix is up and on as usual,” said Netflix spokesman Steve Swasey, via email. “Last night we had an unanticipated and rare technical issue that interrupted the service for about four hours, since fixed.” Get the full story »
Fox & Obel may face eviction in Streeterville
Baked goods at Fox & Obel, May 12, 2008. (Candice C. Cusic/Chicago Tribune)
From Chicago Real Estate Daily | Gourmet grocery store Fox & Obel could face eviction from its Streeterville location after falling more than four months behind on rent. The receiver for the former North Pier Terminal filed a petition in Cook County Circuit Court on Jan. 26 seeking possession of the nearly 22,600-square-foot space occupied by Fox & Obel, alleging the grocer had missed rent payments totaling about $330,600. Get the full story>>
USA Today reinvents itself to cope with Internet
USA Today, a newspaper created nearly 30 years ago to appeal to people who grew up watching television, is revising its formula to try to counter the Internet’s threat to its survival.
The nation’s second-largest newspaper is expanding its coverage of advertising-friendly topics, designing content for smartphones and tablet computers and refreshing the look of its print edition, whose circulation has fallen by 20 percent during the past three years. Get the full story »
Fed tells Bank of America to rein in dividend plan
Bank of America Corp. said it needs to revise its plans to boost dividends in the second half of 2011 after regulators objected to the proposal. Get the full story »
Illinois officials tout high-speed rail construction
Gov. Pat Quinn and U.S. Sen. Dick Durbin greet workers at the Amtrak Rail Yard. (Michael Tercha/Tribune)
The next phase of construction on a high-speed rail route between Chicago and St. Louis will begin next month, a high-stakes transportation project similar to those that other states have rebuffed, Illinois Gov. Pat Quinn and U.S. Sen. Dick Durbin announced Tuesday.
“Illinois has always been a strong railroad state and we always will be,“ Quinn said at an Amtrak rail yard near downtown Chicago. Get the full story »
Disbarred Chicago lawyer convicted of fraud
A disbarred Chicago lawyer faces the possibility of a lengthy prison term after a jury convicted her this week in a mortgage fraud case.
The U.S. Attorney’s office in Chicago says jurors convicted Lorie Westerfield on three counts of wire fraud and acquitted her of an additional fraud count after a weeklong trial. Each count carries a maximum 20-year prison sentence. Westerfield remains free on bond as she awaits sentencing on Aug. 4. Get the full story »
Ill. broadband connections outnumber landlines
The number of broadband Internet connections in Illinois has exceeded the number of phone landlines for the first time, a sign that the use of traditional phone service continues to decline. Get the full story »
