Sony Corp. is betting on being able to bring music to consumers’ living rooms by offering millions of songs through a digital jukebox connected to popular devices such as TV sets and games consoles.
The new service called Music Unlimited Powered By Qriocity was launched in the United States Thursday, offering 6 million songs on demand through the cloud-based network that 60 million Sony PlayStation gamers use to play video games online. Get the full story »
Nasdaq OMX Group and IntercontinentalExchange Inc. could possibly strike a partnership and talks between the U.S.-based exchange operators are at a “critical stage,” Fox Business Network reported Thursday. Get the full story »
The U.S. Department of Transportation fined Delta Air Lines Inc. $2 million for violating federal rules on passengers with disabilities, the agency said Thursday.
The fine is the largest imposed against an airline in a case not related to safety. Get the full story »
There’s a note of optimism in the air about the U.S. mortgage delinquency rate.
The number of mortgages that were past due in the fourth quarter was at its lowest level since the end of 2008 (excluding homes that are already in foreclosure.) Meanwhile, the number of U.S. mortgages that were one month late last quarter fell to its lowest level since the end of 2007, the Mortgage Bankers Association said Thursday. Get the full story »
By Jon Hilkevitch | United and American airlines’ lawsuit against Chicago over the expansion of O’Hare International Airport will move toward trial after negotiations have so far failed to break an impasse, officials said Thursday.
Both sides on Thursday asked Judge Richard Billik of Cook County Circuit Court to lift a one-week delay on hearing the lawsuit, which seeks to prevent the city from borrowing more money to keep the O’Hare project going.
The delay was intended to give negotiations a chance to resolve major differences over the financing and timing of new runways. Get the full story »
Renters who need to build their credit histories are getting a leg up from a major consumer credit reporting agency.
Experian is now incorporating rental-payment history data from its recently acquired RentBureau unit into its traditional credit file, which it says will make it easier for college students, recent graduates and immigrants to boost their credit scores — if they pay their rent on time. Typically, credit reports include payment history on credit cards, mortgages, retail accounts, installment loans and finance company accounts.
Experian’s move comes at a good time, with the U.S. homeowner rate falling to its lowest level since 1998. It was 66.5 percent in the fourth quarter, according to the U.S. Census Bureau. That’s 0.7 percentage points lower than the fourth quarter of 2009 and 0.4 percentage points lower than the rate in the third quarter of 2010. The last time it was below the current level was in the fourth quarter of 1998, census data shows. Get the full story »
Gift cards at a Borders bookstore in Washington. (Nicholas Kamm/AFP/Getty Images)
A judge late Wednesday granted Borders Group approval on an interim basis to use $400 million of the $505 million in financing it has been offered to pay its vendors back and keep its business going, including honoring its loyalty program and gift cards.
The decision is the start of a lengthy and difficult process for Borders, which filed for bankruptcy protection on Wednesday. The No. 2 U.S. bookseller is attempting to successfully reorganize so it can emerge from bankruptcy protection a smaller and profitable company.
Borders is accepting bids in an auction for companies to run its store closings and clearance sales. Get the full story »
Northern Trust Corp. Chief Executive Rick Waddell said last week that during the early days of the 2008 financial crisis, his Chicago-based company’s main bank branch alone took in $90 million a day in deposits, up from an average of $2 million a day. Get the full story »
(AP Photo/Paul Sakuma)
Fixed mortgage rates inched down this week, following a dip in Treasury yields.
The average rate on a 30-year fixed mortgage slipped to 5 percent from 5.05 percent last week, Freddie Mac said Thursday. It hit a 40-year low of 4.17 percent in November.
The average rate on the 15-year fixed home loan also fell to 4.27 percent from 4.29 percent. It reached 3.57 percent in November, the lowest level on records dating back to 1991. Get the full story »
Honda Motor Co. said Thursday it will recall 693,497 vehicles worldwide due to faulty engine parts.
The Japanese car maker said the recall affects some models of the Fit compact, also known as the Jazz in some markets, the City small car and Freed compact minivan models sold in North America, Asia-Pacific, Latin America, the Middle East and Africa. Get the full story »
ExxonMobil outlets at the Illinois Tollway’s seven oases will be replaced with 7-Eleven stores, the tollway said Thursday.
The Dallas-based convenience store chain will take over maintenance and operations at Mobil fuel stations for the remaining 17 years of a lease agreement. The stations will still be branded Mobil and drivers can use their ExxonMobil credit card at the oases, but the stores will be re-branded 7-Eleven by the end of March. Get the full story »
The federal government is requiring as many as 1,000 companies to turn over their employment records for inspection, part of an expanding crackdown on businesses suspected of hiring illegal immigrants, according to people close to the Department of Homeland Security.
The audits, which the government is expected to make public in the next few days, represent the biggest operation since 2009. At that time, Immigration and Customs Enforcement, a DHS unit, conducted an auditing sweep of businesses working in public safety and national security. Get the full story »
The number of Americans filing first-time claims for unemployment benefits edged up last week, the government said Thursday. There were 410,000 initial jobless claims filed in the week ended Feb. 12, according to the Labor Department. Get the full story »
