Feb. 25 at 10:54 a.m.
Filed under:
Autos
By Dow Jones Newswires
The Mercury logo on a sign outside of a San Francisco Ford Lincoln Mercury in June 2010. (Justin Sullivan/Getty Images)
Ford Motor Co. is offering Mercury owners $500 toward the purchase of a new Ford vehicle and as much as $1,500 to buy a Lincoln as the auto maker looks to retain customers after dissolving the brand last year.
The customer loyalty incentive, which started earlier this week, runs through April 4, according to three dealers briefed on the rebate. The offer is confined to the Midwest states which had been the heart of the Mercury market.
This is one of the first steps Ford has taken to reach out to Mercury customers after the auto maker stopped producing Mercury vehicles at the end of last year. The move also comes as stand-alone Lincoln dealers, those without a Ford franchise, adjust to life minus their Mercury showrooms which helped pull in shoppers. Get the full story »
Feb. 25 at 10:37 a.m.
Filed under:
Autos,
Economy,
Updated
By CNN
A customer purchases gasoline at a Chicago Shell station on Feb. 7, 2011. (Scott Olson/Getty Images)
U.S. gas prices jumped 6 cents overnight, as the recent spike in oil prices begins to hit filling stations across America. That marks the third day in a row that prices have risen, and brings the national average to the highest level since October 2008.
The national average price for a gallon of regular gas rose 5.9 cents to $3.287, motorist group AAA said Friday. Gasoline also jumped 6 cents overnight in Chicago, where prices averaged $3.497. Get the full story »
Feb. 25 at 9:58 a.m.
Filed under:
Airplanes,
Stock activity,
Updated
By Reuters
Shares of Boeing gained 4 percent in premarket trade on Friday after the company won a $30 billion contract for 179 new U.S. Air Force refueling planes a day earlier.
The win for Boeing came as a surprise to many industry watchers who expected rival EADS to win the contract. Get the full story »
Feb. 25 at 9:42 a.m.
Filed under:
Consumer news
By Reuters
Consumer sentiment rose to its highest level in three years in February, helped by an improving view of the labor market recovery, a survey released on Friday showed. Get the full story »
Feb. 25 at 8:21 a.m.
Filed under:
Airplanes,
Defense,
Updated
By Julie Johnsson
The Boeing 767-based NewGen Tanker is pictured simultaneously refueling two F/A-18 Super Hornet aircraft from the wing air refueling pods in this undated photo illustration, obtained on Feb. 24, 2011. (Reuters/Boeing/Handout)
The U.S. Air Force on Thursday awarded Boeing Co. a contract worth more than $30 billion to build airborne tankers, potentially ending a decade-long contracting saga that is one of the longest and strangest in Pentagon history.
The announcement was an upset win for Chicago-based Boeing, and quickly drew an allegation that Defense Department officials had been swayed by “Chicago politics” from Sen. Richard Shelby (R-Ala.), a leading Congressional supporter of rival bidder EADS. Get the full story »
Feb. 25 at 7:51 a.m.
Filed under:
Airplanes
By Reuters
Boeing Co. said Thursday it is making headway toward certification of its long-delayed 787 Dreamliner, with nearly 80 percent of the conditions met for the first model featuring Rolls-Royce engines. Get the full story »
Feb. 25 at 7:45 a.m.
Filed under:
Economy,
Government
By CNN
The economy grew much slower than originally thought at the end of 2010, according to new estimates released by the government Friday.
Gross domestic product, the broadest measure of economic activity, was revised sharply lower to an annual growth rate of 2.8 percent in the three months ending in December. The initial reading had been for a 3.2 percent growth rate in the period. Get the full story »
Feb. 25 at 7:36 a.m.
Filed under:
Computers,
Litigation,
Telecommunications
From CBS’ BNet | San Francisco-based Xoom Corp. filed suit against Motorola’s trademark entity seeking a “temporary restraining order and/or preliminary injunction” as well as a permanent injunction against use of the Xoom name. If granted, Motorola would have to immediately stop the launch of its high-buzz Xoom tablet computer until it could either legally resolve the matter or find another name. Get the full story>>
By CNN
Lawmakers scolded the FDA for still not knowing what or who was behind the contamination of the Baxter International’s blood-thinning drug Heparin, nearly three years after launching its investigation.
“It has been almost three years since the the FDA linked deaths and serious allergic reactions of patients to supplies of Heparin that came from China,“ Rep. Fred Upton (R-Mich.), wrote in a letter to FDA Commissioner Margaret Hamburg Wednesday. Upton said the House Energy and Commerce committee, which he chairs, will conduct its own probe into the matter. Get the full story »
Feb. 25 at 5:43 a.m.
Filed under:
Computers,
Internet,
Telecommunications
By Associated Press
Motorola’s new Xoom tablet computer has enough power under the hood to challenge Apple Inc.’s iPad, according to analysis by market researchers IHS iSuppli, but buyers might be disappointed to find that it will need new hardware to work on new, high-speed networks. Get the full story »
Feb. 24 at 5:46 p.m.
Filed under:
Airlines
By Associated Press
Airfares are rising again, and travelers should brace for more price increases.
United and Continental started the latest price hike Wednesday by adding $20 per round trip to most domestic flights. By Thursday afternoon, they were matched by American, Delta and US Airways. Low-cost carriers JetBlue and AirTran had not raised prices, and Southwest had done so only on some routes, according to fare watchers. Get the full story »
Feb. 24 at 5:19 p.m.
Filed under:
Technology,
Venture capital
By Wailin Wong
The venture capital arm of Libertyville-based Motorola Mobility Holdings Inc. has made its first investment since splitting from Motorola Inc., putting an undisclosed sum into a California technology company that makes a “digital locker” for multimedia content.
Like its predecessor, Motorola Ventures, Motorola Mobility Ventures’ typical investment ranges between $3 million and $5 million. Motorola split into two independent companies in January, with Motorola Mobility housing the mobile devices and television set-top box units. Motorola Solutions, the other company that focuses on communications gear for government and industrial customers, has its own investment arm called Motorola Solutions Venture Capital. Get the full story »
Feb. 24 at 4:53 p.m.
Filed under:
Earnings,
Retail,
Updated
By Sandra M. Jones
Sears' same-store sales fell 1.2 percent at U.S. stores open at least one year. (AP Photo/Paul Sakuma)
Sears Holdings Corp.’s fourth-quarter profit fell 13 percent as the retailer continues to struggle with declining sales of appliances and apparel and its namesake Sears department stores.
In his annual letter to shareholders Thursday, Sears Chairman Edward Lampert called the financial results “unacceptable” and outlined a vision for the Hoffman Estates-based retailer operating smaller stores and expanding online. Get the full story »
Feb. 24 at 4:42 p.m.
Filed under:
Banking,
M&A
By Reuters
Bank of Ireland announced plans Thursday to sell its fund administration business, the Bank of Ireland Securities Services, to Northern Trust Corp. for up to 60 million euros ($82.53 million) to boost its capital levels.
Stock in Northern Trust closed at $52.14, down 26 cents.
Feb. 24 at 4:34 p.m.
Filed under:
Internet,
Sports
By Becky Yerak
Dave Duerson had barely been dead for a day before memorabilia owners took to eBay, but goods related to the former Chicago Bears safety are turning out to be a hard sell.
About two-thirds of the 44 Duerson products listed on eBay have been posted since he committed suicide on Feb. 17. They range from 25 cents for a Topps card to $1,200 for a jersey he wore while playing for the Arizona Cardinals. Duerson played on the 1985 Bears team that won the Super Bowl, and also appeared in four Pro Bowls. Get the full story »
