Feb. 18 at 6:09 a.m.
Filed under:
Banking
By Dow Jones Newswires-Wall Street Journal
Top U.S. regulators said Thursday that small banks could be hurt by new limits on debit-card fees, comments that could fuel efforts to delay or change a provision in the Dodd-Frank financial-overhaul law.
The provision directs the Federal Reserve to cap “swipe fees” that debit-card issuers charge merchants each time a customer pays with a debit card. Banks and credit unions with less than $10 billion in assets, however, are exempted from the limit and can charge higher fees. Get the full story »
Feb. 18 at 5:47 a.m.
Filed under:
Fashion,
Manufacturing
By CNN
With cotton prices hitting all-time high Thursday, clothing sellers are challenged to do everything they can to avoid passing the cost on to shoppers.
“T-shirts may get thinner,“ said Chris Callieri, principal with A.T. Kearney’s retail and consumer practice. Callieri said some of his clients are playing around with the “density“ of cotton fabric, to see how they can use less of it. “But you have to be careful with that approach so that it doesn’t affect the quality of the garment,“ he said. Get the full story »
Feb. 18 at 5:39 a.m.
Filed under:
Banking
By Dow Jones Newswires
J.P. Morgan Chase & Co. Chief Executive Jamie Dimon received a 2010 equity bonus worth $17 million, the biggest bonus for a big name Wall Streeter so far this year. Though the equity bonus is similar to the prior year’s award, it still tops those so far given out to Dimon’s banking peers. Get the full story »
Feb. 17 at 5:20 p.m.
Filed under:
Bankruptcy,
Food,
Restaurants,
Updated
By Dow Jones Newswires
Chicago’s Giordano’s Enterprises Inc., home of the “world famous” deep-dish pizza, filed for bankruptcy Wednesday.
According to documents served up Wednesday in U.S. Bankruptcy Court in Chicago, Giordano’s sought Chapter 11 protection along with 32 affiliates. In court papers, Giordano’s said it has “an urgent and immediate need for cash to continue to operate.”
Giordano’s, where every pizza “is a slice of heaven,” owes more than $45 million to lender Fifth Third Bank. Get the full story »
Feb. 17 at 5:01 p.m.
Filed under:
Airlines,
Airplanes,
Airports,
Updated
A Virgin America Airbus A319 airplane. (Charlotte Southern/Bloomberg)
By Julie Johnsson and Wailin Wong | Virgin America entered the Chicago market Wednesday with typical flair, unveiling a Groupon Deal of the Day that slashed prices on its new West Coast service to $128 round-trip.
The deeply discounted deal was the first air fare to be featured on Chicago-based Groupon and sold out in Chicago in just 8 minutes, said Virgin America spokewoman Abby Lunardini. Within 45 minutes, Virgin’s Groupon offer had sold out in San Francisco and Los Angeles, a total of 2,100 fares in all.
Get the full story »
Feb. 17 at 4:59 p.m.
Filed under:
Agriculture/Farming,
Earnings
By Reuters
CF Industries Holdings Inc. said quarterly profit spiked due to strong demand for its nitrogen fertilizers, a trend that executives said would only continue in 2011.
The company posted fourth-quarter net income of $200.3 million, or $2.78 per share, compared with $51.4 million, or $1.04 per share, in the year-ago period. Get the full story »
Feb. 17 at 4:57 p.m.
Filed under:
Airplanes,
International,
Manufacturing
By Reuters
Boeing Co. said on Thursday it took seven new orders for commercial planes in the week ended Feb. 15 — three 767 jets and four 777s.
The 767 orders were from Chile’s LAN Airlines, which announced earlier this week that it was buying the three planes for $510 million as part of its long-term fleet strategy. Get the full story »
Feb. 17 at 4:20 p.m.
Filed under:
Policy,
Politics
By Reuters
The U.S. economy still needs the Federal Reserve’s super-easy monetary policy, a top official said on Thursday, but the recovery may be strong enough June that the central bank will not need to extend its current $600 billion bond-buying program. Get the full story »
Feb. 17 at 3:56 p.m.
Filed under:
Airlines,
Airplanes,
Travel
By Julie Johnsson
The new United Airlines is keeping Economy Plus seating, one of the most popular features developed by the Chicago-based carrier prior to its 2010 merger with Continental Airlines.
United said Thursday that starting in 2012, it plans to retrofit Continental’s mainline aircraft and larger regional jets with the roomier economy seating.
In all, more than 700 mainline jets will be outfitted with the product, which features about five extra inches of legroom in the forward reaches of the economy cabin in United’s aircraft. Get the full story »
Feb. 17 at 3:26 p.m.
Filed under:
Bankruptcy
By Reuters
Blockbuster’s landlords want to evict the bankrupt movie rental chain from dozens of stores if they are not immediately paid past-due rent, adding to the company’s woes in Chapter 11.
Blockbuster is already facing demands from the film studio behind the hit “Twilight” vampire series that it pay its bills or liquidate. Get the full story »
Feb. 17 at 3:00 p.m.
Filed under:
Economy
By Associated Press
Most commodity prices are climbing after a new government report indicated inflation may be inching higher, with prices for wheat, corn, soybeans and metals all higher. Energy contracts are mostly lower. Get the full story »
Feb. 17 at 2:29 p.m.
Filed under:
Agriculture/Farming,
Real estate
By Wailin Wong
Farmland values in the Midwest posted their second-largest increase in 30 years in 2010, according to a quarterly report released Thursday by the Federal Reserve Bank of Chicago.
Agricultural land values in Iowa, Illinois, Indiana, Wisconsin and Michigan rose 12 percent in 2010. The report surveyed 212 agricultural bankers in the area. More than half said they expect farmland values to continue increasing in the first quarter of 2011. Get the full story »
Feb. 17 at 2:01 p.m.
Filed under:
Bankruptcy,
Retail
By CNN
Borders is planning liquidation sales in the 200 stores it is shutting down as part of its Chapter 11 bankruptcy filing.
“There will be opportunities for liquidation-type sales,” Borders spokesman Donald Cutler said Thursday. “Specifications about them will be revealed in the coming days and weeks.” Get the full story »
Feb. 17 at 1:48 p.m.
Filed under:
Autos,
Environment,
Green
By CNN
The Chevrolet Volt didn’t rank as one of the 10 “greenest” cars in America, coming at no. 13, according to the American Council for an Energy-Efficient Economy’s annual list.
The fully electric Nissan Leaf ranked second among all 2011 model year cars on the list. First place went to the compressed natural gas powered Honda Civic GX. Get the full story »
