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Business & Lifestyle

Federal grant application by Carlinville was for regional water “commission”

CARLINVILLE (Heartland Newsfeed) -- A recent investigation from the Edgar County Watchdogs, in their ongoing battle with the City of Carlinville, has revealed the City's 2016 grant application for Federal funding of a project on behalf of the Illinois Department of Agriculture. As discovered by ECWd's John Kraft, the intent and purpose of the grant was for "a preliminary engineering report to evaluate options" for development of a viable water supply, treatment and transmission system to serve a regional water […]

todayJanuary 21, 2018 16

Business & Lifestyle

HSBC to pay over $100M to settle currency rigging probe

LONDON/NEW YORK (UPI) -- Europe's biggest bank has agreed to pay about $100 million in penalties to resolve a U.S. Justice Department investigation. The deal stems from a probe into HSBC Holdings PLC rigging currency rates, an investigation that led to the conviction of one of its former bankers. The scheme, which involved bankers executing trades that drove up costs for two large corporate clients, netted the bank more than $46 million in profits in 2010 and 2011. John Cronan, acting assistant attorney […]

todayJanuary 19, 2018 14

Business & Lifestyle

Illinois senators announce plan to connect rural schools to high-speed internet

SPRINGFIELD (Heartland Newsfeed) -- Illinois school districts that have not yet been able to afford the cost of installing reliable high-speed internet soon will be able to do so under a plan being advanced by a bipartisan group of state senators. A proposal introduced by state senators Andy Manar (D-Bunker Hill), Sam McCann (R-Plainview) and Jennifer Bertino-Tarrant (D-Shorewood) sets aside $16.3 million in the upcoming state budget to help school districts foot the cost of installing fiberoptic cable for high-speed […]

todayJanuary 19, 2018 6

Business & Lifestyle

BP to post $1.7B charge on Deepwater Horizon

LONDON (UPI) -- British energy company BP said it expects a charge of around $1.7 billion in its fourth quarter earnings as a result of the Deepwater Horizon settlement. BP said Tuesday that its court-supervised settlement program related to the class action settlement on the 2010 spill is winding down and it expects those charges to show up in fourth quarter results. The total cash impact, however, will be spread out over a multi-year period. "With the claims facility's work very […]

todayJanuary 19, 2018 3

Automotive News

Chinese automaker plans to enter U.S. market in 2019

DETROIT (UPI) -- Chinese automaker Guangzhou Automobile Group plans to enter the U.S. market in 2019, the company said at the Detroit Auto Show Monday. "We intend to gain a foothold in the U.S.," GAC Motors president Yu Jun said at a news conference. "If we can make it in the U.S., we can make it anywhere and enhance further possibilities of future growth." It's not yet clear how GAC plans to enter the U.S. market. But according to reports, the […]

todayJanuary 19, 2018 3

Business News

Starz working on a series set in the John Wick universe

LOS ANGELES (UPI) -- Starz is developing The Continental, a Chris Collins-penned drama connected to Keanu Reeves' John Wick film franchise. The possible series would focus on a hotel that serves as a refuge for assassins in a "hyper-real version of Los Angeles." Collins would serve as showrunner if the pilot gets picked up and Reeves is on board as a producer, but the cable network did not say if he is expected to act in the project. No casting has been announced yet. Chad Stahelski […]

todayJanuary 15, 2018 18

Business & Lifestyle

Trading oil no longer intrigues T. Boone Pickens

DALLAS (UPI) -- After a "roller coaster ride" that saw $100-per-barrel swings in crude oil prices, tycoon and former oil man T. Boone Pickens said he's bored with trading oil. The 89-year-old investor, who nine years ago launched The Pickens Plan, designed to drive the U.S. energy sector away from its dependence on foreign oil, said in a statement he was shutting down his oil- and gas-commodity focused BP Capital. Launched after he left Mesa Petroleum in the 1990s, Pickens said he's seen oil move […]

todayJanuary 13, 2018 27

Business & Lifestyle

Circuit City to relaunch as online store in February

LAS VEGAS/NEW YORK (UPI) -- Electronics retailer Circuit City announced it plans to relaunch its brand after going out of business. Circuit City CEO Ronny Shmoel announced the brand relaunch at the Consumer Electronics Show in Las Vegas on Monday, stating it will focus on the retail verticals of e-commerce, mobile, technology, omni-channel commerce. "Under new ownership, Circuit City will relaunch with a dynamic, social-focused e-commerce site, along with various concepts of innovative retail stores, and unprecedented e-commerce technology offerings," the company said. […]

todayJanuary 11, 2018 10

Business & Lifestyle

Dropbox confidentially files for IPO

SAN FRANCISCO (UPI) -- File-storage company Dropbox confidentially filed for a U.S. initial public offering Thursday, people familiar with the matter said. The company, valued at $10 billion, is expected to make the public offering led by Goldman Sachs Group Inc. and JPMorgan Chase & Co. in the first half of this year, Bloomberg reported. Non-public filings have occurred more often since July, when the U.S. Securities and Exchange Commission began allowing all companies to file early IPO documents confidentially. A total of 26 U.S. […]

todayJanuary 11, 2018 8

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