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Solar development absorbing California farmland Feb 2, 2013 12:00 AM
Planning department records in four of the valley’s biggest farming counties show about 100 solar generation plants already proposed on roughly 40,000 acres, or about the equivalent of 470 Disneyland theme parks. Planners in Fresno County say their applications for solar outnumber the ones they received for housing developments during the boom days.
Hundreds watch as San Diego power plant implodes Feb 2, 2013 12:00 AM
The implosion — which had been months in the planning — turned the mighty structure into a heap of concrete and twisted steel. Kayakers and other onlookers positioned themselves as early as 4 a.m. to watch the implosion of the 165-foot South Bay Power Plant and say goodbye to a bit of local history
Initial public offerings next week Feb 1, 2013 12:00 AM
Fed says growth pause temporary, keeps up stimulus Jan 31, 2013 12:00 AM
The Federal Reserve said Wednesday that the U.S. economy "paused" in recent months because of temporary factors and reaffirmed its commitment to try to stimulate growth by keeping borrowing costs low for the foreseeable future.
Global growth boosts MasterCard 4Q net income Jan 31, 2013 12:00 AM
MasterCard's net income rebounded strongly in the fourth quarter as its overseas business continued to expand, the company said Thursday. The results benefited by comparison to the year-earlier quarter, which was weighed down by a massive legal charge. Net income in the three months ended Dec. 31 rose to $605 million, or $4.86 per share, from $19 million, or 15 cents per share, a year earlier.
S&P rating makes Illinois the country’s worst state Jan 25, 2013 12:00 AM
Illinois' already disastrous financial situation worsened Friday as another credit rating agency downgraded its rating to the worst of any state in the country, blaming lawmakers' ongoing failure to resolve a multibillion-dollar pension crisis. "We believe that legislative consensus on reform will be difficult to achieve given the poor track record in the past two years," analysts said.
Source: Morgan Stanley CEO will get a pay cut Jan 25, 2013 12:00 AM
Morgan Stanley CEO James Gorman will get a pay cut for 2012. A person familiar with the situation says the bank plans to trim Gorman's pay from its 2011 level due to a lackluster stock performance and other corporate growth measurements.
ECB: banks to repay early $183 billion in loans Jan 25, 2013 12:00 AM
Banks in the eurozone will pay back early (euro) 137.2 billion ($183 billion) of the huge injection of cheap, three-year emergency loans they received from the European Central Bank about a year ago. The ECB launched the unprecedented lending operation at the end of 2011, loaning out a bit over (euro) 1 trillion in two batches as it sought to relieve stress on banks at the height of the debt crisis in the 17 countries that use the euro.
Exxon passes Apple as most valuable company Jan 25, 2013 12:00 AM
Exxon has once again surpassed Apple as the world's most valuable company after the iPhone and iPad maker saw its stock price falter.
After online push, Gatorade to remove controversial ingredient Jan 25, 2013 12:00 AM
PepsiCo Inc. is removing a controversial ingredient from its Gatorade sports drink in response to customer complaints. Molly Carter, a spokeswoman for the company, said Friday that the removal of brominated vegetable oil was in the works over the past year after the company began "hearing rumblings" from consumers about the ingredient.
Cameron: I don’t want a country called Europe Jan 24, 2013 12:00 AM
Britain's Prime Minister David Cameron has slammed any moves to forge a United States of Europe. Cameron, who has shaken up Europe's political landscape by offering to let citizens vote on whether to leave the 27-nation European Union, says forcing countries into a single entity would be a "great mistake."
Top white-collar crime prosecutor getting SEC job Jan 24, 2013 12:00 AM
President Barack Obama will nominate Mary Jo White to lead the Securities and Exchange Commission, tapping an attorney with broad experience in prosecuting white-collar crimes to lead an agency that has a central role in implementing Wall Street reform.
U.S. bank deposits drop most since 9/11 as FDIC support ebbs Jan 23, 2013 12:00 AM
Clients of the largest U.S. banks withdrew funds this month at the fastest weekly pace since the Sept. 11 attacks as a deposit-insurance program ended and customers tapped into their year-end cash hoards. Net withdrawals at the 25 largest U.S. lenders totaled $114.1 billion in the week ended Jan. 9, pushing deposits down to $5.37 trillion, according to Federal Reserve data released last week. The magnitude of the drop was second only to the decline after the Sept. 11, 2001 terrorist attacks, according to Jason Goldberg, a New York-based analyst at Barclays Plc.
Wintrust to acquire First Lansing Bancorp for $38.5 million Jan 23, 2013 12:00 AM
Rosemont-based Wintrust Financial Corp. announced it will acquire First Lansing Bancorp Inc., the parent company of First National Bank of Illinois, for about $38.5 million.
IMF sees modest 2013 improvement for world economy Jan 23, 2013 12:00 AM
The International Monetary Fund is projecting a modest rise in global economic growth for 2013, but also warning that problems in the eurozone and the United States could derail momentum.
US stocks rise as tech, industrial earns roll in Jan 22, 2013 12:00 AM
Strong earnings reports from big U.S. companies helped push the Dow Jones industrial average to its eighth gain in nine sessions Tuesday. DuPont, Verizon and Travelers Cos., three of the 30 stocks that make up the Dow, closed higher after reporting their financial results for the final quarter of 2012.
Expiring credits, deductions extended by Congress Jan 22, 2013 12:00 AM
Taxpayers preparing to file their 2012 returns can breathe a collective sigh of relief. The alternative minimum tax or AMT has been patched — permanently — and several tax credits and deductions that technically expired at the end of 2011 were extended as part of the fiscal cliff legislation that Congress passed and President Barack Obama signed into law in January.
Palatine church to hold financial course Jan 21, 2013 12:00 AM
Immanuel Lutheran Church in Palatine will facilitate a financial course, Financial Peace University, to help couples, singles and families get out of and stay out of debt. The course, which uses video-based curriculum taught by financial expert Dave Ramsey, will start with an in-person class with the Rev. Warren Schlif from 6:30 to 8 p.m. Tuesday, Jan. 29, at the church, 200 N. Plum Grove Road.
FTC says seller of 9/11 coins to pay $750,000 Jan 19, 2013 12:00 AM
More than 140 nations adopt treaty to cut mercury Jan 19, 2013 12:00 AM
A new and legally binding international treaty to reduce harmful emissions of mercury was adopted Saturday by more than 140 nations, capping four years of difficult negotiations but stopping short of some of the tougher measures that proponents had envisioned.