March 14 at 11:42 a.m.
Filed under:
Airlines,
Airplanes,
Airports
By Jon Hilkevitch | Mayor Richard Daley and United and American airlines have negotiated a breakthrough, $1.7 billion deal to continue runway construction at O’Hare International Airport, according to the United States Department of Transportation.
The department issued a news release this morning that said the agreement on the O’Hare Modernization Program will allow work to begin on an additional south runway at the airport in addition to other improvements that would allow O’Hare to “deal with increasing traffic.”
March 14 at 11:13 a.m.
Filed under:
Internet,
Media,
Newspapers
By Reuters
(Charles Osgood/Chicago Tribune)
For the first time, online readership and advertising revenue has surpassed that of print newspapers.
Online advertising revenue in the United States is projected to overtake print newspaper ad revenue in 2010, according to the latest report, the State of the News Media, from the Pew Research Center’s Project for Excellence in Journalism.
The study also found that more people — 46 percent of Americans surveyed — said they get news online at least three times a week, versus 40 percent who said they get their news from newspapers and their companion websites. Get the full story »
March 14 at 10:33 a.m.
Filed under:
Agriculture/Farming,
Food
By Reuters
Sara Lee Corp. will raise overall prices in the high single-digit percentages this fiscal year, with increases on everything from Jimmy Dean sausage to frozen pies, an executive said at the Reuters Global Food and Agriculture Summit Monday. Get the full story »
March 14 at 10:04 a.m.
Filed under:
Internet
By Reuters
A Bank of America customer uses an ATM. (Reuters/Lucas Jackson)
Anonymous, a hacker group sympathetic to WikiLeaks, released on Monday emails that it obtained from someone who said he is a former Bank of America Corp employee.
In the emails dating from November 2010, people that appear to be employees of a Balboa Insurance, a Bank of America insurance unit, discuss removing documents from loan files for a group of insured properties.
Neither the emails nor correspondence released by Anonymous indicate the reason behind the electronic record keeping discussion. Get the full story »
March 14 at 9:55 a.m.
Filed under:
International
By Reuters
Japan said on Monday it will allow oil companies to release 8.9 million barrels of crude oil from mandatory stockpiles to relieve pressure on supplies disrupted by Friday’s earthquake and tsunami. Get the full story »
March 14 at 8:04 a.m.
Filed under:
Chicago executives,
Housing,
Real estate
By Dow Jones Newswires-Wall Street Journal
Ken Griffin, the chief executive of Citadel in Chicago, has bought an oceanfront home at the Four Seasons’ Hualalai resort in Hawaii for just under $17 million. Get the full story »
March 14 at 7:50 a.m.
Filed under:
Work culture
By Reuters
(Chung Sung-Jun/Getty Images)
A million dollars ain’t what it used to be. More than four out of ten American millionaires say they do not feel rich. Indeed many would need to have at least $7.5 million in order to feel they were truly rich, according to a Fidelity Investments survey.
Some 42 percent of the more than 1,000 millionaires surveyed by Fidelity said they did not feel wealthy. Respondents had at least $1 million in investable assets, excluding any real estate or retirement accounts.
“Every person in the survey is wealthy,” said Sanjiv Mirchandani, president of National Financial, a unit of Fidelity. “But they are still worried about outliving their assets.” Get the full story »
March 14 at 7:38 a.m.
Filed under:
Cell phones,
Consumer electronics
From the Associated Press | Users of Apple’s iPhone peppered Twitter and blogs with complaints that their phones bungled the one-hour “spring forward” to daylight savings time that went into effect overnight Saturday.
Some users’ phones fell back one hour instead of springing forward, making the time displayed on the iPhone two hours off. This is just the latest clock woe for Apple’s chic iPhone. A clock glitch prevented alarms from sounding on New Year’s Day, causing slumbering revelers to oversleep. The devices also struggled to adjust to the end of daylight savings time back in November. Get the full story>>
By Dow Jones Newswires-Wall Street Journal
(Mario Tama/Getty Images)
Apple Inc.’s new iPad 2 flew off of the shelves on its first weekend. The company’s stores in major U.S. cities had sold out of the updated tablet device within hours of its introduction at 5 p.m. local time Friday, according to surveys by analysts. On Sunday, Apple’s online store was showing a shipping delay of three to four weeks for all of the versions of the iPad 2.
Analysts put sales of the new iPad in the range of 400,000 to 600,000 units during its first three days on the market, about the same range as the original model sold its first week. Get the full story »
March 14 at 6:56 a.m.
Filed under:
Exchanges
By Dow Jones Newswires
The startup derivatives market Eris Exchange on May 18 will go live with a new trading system intended to broaden access to its interest-rate swap futures.
The same technology used to power the currency-trading platform Currenex will underlie Eris’ nascent markets, which are designed to offer swift, efficient trading in products that typically are traded privately between investors and banks. Get the full story »
March 14 at 6:23 a.m.
Filed under:
M&A,
Pharmaceuticals
By CNN
Warren Buffett. (Mandel Ngan/AFP/Getty Images)
Warren Buffett’s investment company, Berkshire Hathaway, said Monday that it has agreed to buy the chemical company Lubrizol for $9.7 billion.
Berkshire Hathaway and Lubrizol said the deal was for 100 percent of all outstanding shares at $135 per share. That’s a 28 percent premium over Lubrizol’s closing price on Friday of $105.44 per share, and is 18 percent higher than the company’s highest-ever closing price, according to the companies.
The deal includes $700 million in assumed debt.
Berkshire described the deal as “one of the largest acquisitions in Berkshire Hathaway history.“ Get the full story »
March 14 at 6:03 a.m.
Filed under:
Exchanges,
International
By Reuters
Japanese stocks suffered their biggest slide since the 2008 financial crisis Monday, with investors eyeing a further drop as the uncertainty over the country’s nuclear crisis compounds worries that the quake and tsunami will cause deeper economic pain than initially thought.
The TOPIX tumbled 7.5 percent on record trading volume. With Monday’s selloff, the market capitalization of shares on the Tokyo stock exchange’s first section fell by roughly $286 billion — greater than the size of Finland’s economy. Get the full story »
March 14 at 5:51 a.m.
Filed under:
Internet
By Dow Jones Newswires-Wall Street Journal
AT&T Inc. said it would begin to cap DSL data usage for its customers and begin to implement charges for anyone who goes over the limit.
The Dallas telecommunications giant said that customers who went over a limit of 150 gigabytes of data a month three times would be charged $10 for every extra 50 gigabytes of data they consume. Customers on its higher-end U-Verse Internet service have a limit of 250 gigabytes. AT&T will impose the new limit on May 2. Get the full story »
By Wailin Wong
The iPad 2 line formed early outside the Apple Store on North Michigan Avenue. (Phil Velasquez/Tribune)
They could have placed an online order early Friday morning. They could have waited until next week.
But that is not the way of Apple fans. That’s why hundreds of them lined up outside the Michigan Avenue Apple Store Friday to buy the iPad 2, the company’s second-generation tablet computer. Get the full story »
March 11 at 5:58 p.m.
Filed under:
Bankruptcy,
Media
By Michael Oneal
Two Tribune Co. financial advisers provided stark evidence of the newspaper industry’s decline Friday when they testified in bankruptcy court that the company’s flagship publishing division may have dropped below an estimated $1 billion in value. Get the full story »
