Feb. 22 at 2:42 p.m.
Filed under:
Computers,
Technology,
Updated,
Wireless
By Reuters
In this photo taken April 3, 2010, a customer uses an Apple iPad on the first day of Apple iPad sales at an Apple store in San Francisco. (AP Photo/Paul Sakuma, File)
Apple is expected to launch its new iPad on March 2, contrary to speculation of a delay of the latest version of the popular tablet computer.
One person familiar with the matter said recent speculation about a delay until June was “simply not true” as Apple is planning a launch in the same seasonal schedule as the first iPad, which went on sale in April 2010.
Apple will host an event on Mar. 2, where the company is expected to take the wraps off the newest iPad model, an individual with knowledge of the situation said. Apple declined to comment. Get the full story »
Feb. 22 at 2:35 p.m.
Filed under:
Beverages,
Food,
Packaged foods
By Emily Bryson York
Sara Lee may be breaking up, but company executives say that will make it much more focused on the business in which it competes.
Chief Executive Marcel Smits laid out Sara Lee’s plans at the Consumer Analysts Conference of New York Tuesday morning to take share from Nestle, the international leader in single-serve coffee.
Single-serve, made from individual pouches brewed in specialized machines, has become the latest battleground for the coffee industry. Starbucks, Dunkin’ Donuts, Green Mountain Coffee Roasters and even retailers such as Wal-Mart are expected to play a crucial role in the U.S. battle. Get the full story »
Feb. 22 at 2:26 p.m.
Filed under:
Government,
Pharmaceuticals,
Regulations
By Reuters
U.S. health regulators have warned Sanofi-Aventis SA’s U.S. unit for failing to submit reports of possible serious drug side effects in a timely manner.
In a Jan. 28 letter made public Tuesday, the Food and Drug Administration said an early response from the drugmaker and its “promised corrective actions are inadequate to address the deficiencies.” Get the full story »
Feb. 22 at 2:13 p.m.
Filed under:
Banking,
Crime,
Criminal charges,
Fraud,
Investing
By Reuters
Citigroup Inc. tried to pass its exposure to Bernard Madoff to other banks just months before his epic fraud was revealed, the Madoff trustee said in a lawsuit accusing a second major U.S. bank of unsavory dealings with the financier.
Trustee Irving Picard said red flags about Bernard L. Madoff Investment Securities LLC were apparent to Citi as early as 2005, according to court papers unsealed Monday. The lawsuit seeks $425 million from the bank. Get the full story »
Feb. 22 at 1:42 p.m.
Filed under:
Food
By Emily Bryson York
Northfield-based Kraft Foods Inc. is introducing a product Tuesday that lets consumers flavor their water. Kraft calls MiO a “liquid water enhancer” and lets users add as much or as little flavoring as they want.
MiO bottles will include enough droplets for about 24 servings and sell for $3.99. The products will be available in groceries March 7 and nationwide by March 31. Get the full story »
Feb. 22 at 1:28 p.m.
Filed under:
Internet,
Media,
TV,
Technology
By Reuters
CBS Corp. struck a partnership with Netflix Inc. allowing the online video company to stream CBS library content, including television shows “Cheers,” “Frasier,” “The Andy Griffith Show” and “The Twilight Zone” to Netflix subscribers. Get the full story »
Feb. 22 at 1:18 p.m.
Filed under:
Internet,
Sports
Bloomberg News | YouTube says it has been talking with the National Basketball Association and National Hockey League to broadcast live games, part of a move into sports programming stated last year with cricket in India.
By Dow Jones Newswires
A former Walt Disney Co. administrative assistant was sentenced to four months home detention Tuesday after admitting to engaging in a scheme last year to sell early access to the entertainment company’s earnings.
Federal prosecutors in Manhattan alleged that Bonnie Hoxie, the former assistant to Disney’s head of communications, gave her then-boyfriend Yonni Sebbag information about Disney’s results before their public announcement last spring. Get the full story »
Feb. 22 at 12:43 p.m.
Filed under:
Beverages,
Food
By Emily Bryson York
Chief Beer Officer Greg Hall checks operations at the Goose Island Brewery brewhouse in Chicago. (Michael Tercha/ Tribune)
Chicago-based Goose Island Beer Co. will begin shipping New Hampshire-made Goose Island India Pale Ale this week to serve growing markets on the East Coast.
The company also is testing Honker’s Ale there. It also likely will be made at the New Hampshire facility for the East Coast by spring.
Goose Island began testing its IPA in New Hamphire in September. Get the full story »
Feb. 22 at 12:28 p.m.
Filed under:
Housing,
Real estate,
Sports
Elite Street | By Bob Goldsborough | Retired Chicago Cubs catcher Todd Hundley has put his six-bedroom home in Glenview on the market for $1.799 million.
Hundley, 41, played in the major leagues from 1990 until 2003, including with the Cubs in 2001 and 2002. Get the full story »
Feb. 22 at 11:45 a.m.
Filed under:
Earnings,
Investing
By Reuters
Chicago-based executive recruiter Heidrick & Struggles International posted a lower-than-expected quarterly profit, weighed down by higher payroll expenses and employee benefits.
The company, which competes with Korn/Ferry International, said it expects first-quarter revenue of $122-$128 million and $515-$545 million for the full year. Get the full story »
Feb. 22 at 11:40 a.m.
Filed under:
Airplanes,
International,
Policy,
Politics
By Reuters
President Barack Obama plans to offer new financing for joint infrastructure projects between U.S. and Brazilian companies when he visits Brazil next month, part of efforts to strengthen ties between the Western Hemisphere’s two biggest economies, sources say. Get the full story »
Feb. 22 at 11:07 a.m.
Filed under:
Technology,
Telecommunications,
Wireless
By Wailin Wong
Verizon Wireless said Tuesday it spent more than $179.7 million on its Illinois network last year, more than the roughly $166 million investment the carrier made in the state in 2009.
In 2010, Verizon built 57 new cell sites and installed equipment at more than 560 cell sites in the state to boost capacity. The company said it also put in new equipment for the launch of its 4G network, which went live in Chicago in December as part of a broader launch in 38 U.S. cities. Get the full story »
Feb. 22 at 10:38 a.m.
Filed under:
Earnings
By Reuters
Printing services firm RR Donnelley & Sons posted better-than-expected quarterly profit as it reported an increase in volumes of logistics services and printing, but continued to struggle with pricing pressure and acquisition-related costs.
The company posted a fourth-quarter net income of $27 million, or 13 cents a share, attributable to common shareholders, compared with a net loss of $79.5 million, or 39 cents a share a year ago. Get the full story »
Feb. 22 at 10:10 a.m.
Filed under:
Housing,
Real estate,
Updated
By Mary Ellen Podmolik
Signs advertising homes for sale in Naperville in August 2010. (Chuck Berman/Chicago Tribune)
Home prices in the Chicago area in December hit a new low since the housing market’s peak in 2006, falling 30 percent to levels not seen since March 2002, according to a widely-watched housing index released Tuesday morning.
The Standard & Poor’s/Case-Shiller Home Price Index showed that Chicago was one of 11 markets in December that hit their lowest level since home prices peaked, which locally was in September 2006.
In the Chicago market, according to the index, December home prices slipped 1.4 percent from November, slightly less than the 2.2 percent drop in November. On a year-over-year basis, Chicago-area prices were down 7.4 percent. “Chicago’s been surprisingly weak,” said Karl Case, a professor emeritus of economics at Wellesley College and one of the economists who created the index. Get the full story »
