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LONDON Stagecoach on Wednesday rejected allegations that its U.S. bus joint venture Twin America was anti-competitive after the United States government started legal proceedings against the business. The British transport group said the U.S. Department of Justice (DoJ) and New York’s Attorney General had initiated legal proceedings against Twin America, a joint venture between Stagecoach North America and City Sights, set up in 2009. Stagecoach said the U.S. bodies were seeking dissolution of the joint venture or they could force the company to sell certain assets. However, Stagecoach said it would “robustly” defend its position. “Since the joint venture was […]

Bank of America Corp , the second largest U.S. bank, is holding off on plans for new checking-account fees that could have affected some 10 million customers by year’s end, avoiding a possible repeat of last year’s protests over consumer banking fees, the Wall Street Journal reported on Saturday. The move to back off on its plan at least until late 2013 comes amid a review of Bank of America’s retail banking business, the Journal reported, citing people familiar with the bank’s plans. The bank is looking for ways to cut losses it takes on the 20 percent of customers […]

Najee Redd, store manager of Sir & Madame in Chicago, displays American-made clothing and accessories available at the store. Handcrafted bicyles from Chicago’s Heritage General Store, a hybrid coffee shop and full-service bike shop, adorn the showroom. All of Pierrepont Hicks’ colorful ties and bowties are made in New York. The husband-wife team behind Pierrepont Hicks started NorthernGRADE in 2010 with iconic leather accessory brand J.W. Hulme. Chicagoan Joel Axelrod tries on handmade wood and acetate glasses by Drift, a Chicago-based eyewear company. Karyn Dethrow tries on clothes at the MidNorth Mercantile boutique, which rescues and restores classic American vintage […]

Joining the Marathon Craze  Who doesn’t like a good jog? It keeps the pounds off, releases endorphins for that natural high, keeps the heart healthy and nearly always beats a treadmill. Participation in marathons continues to grow, as an estimated 518,000 runners finished at least one of more than 700 such races in the United States in 2011, according to the nonprofit Running USA. The 26.2-mile run often pushes the body to new limits and for many conjures images of dehydration, loss of certain bodily controls and even death, however seldom it might be. If you train and hydrate efficiently, […]

DETROIT Ford Motor Co posted a third-quarter profit that trounced Wall Street forecasts on Tuesday, driven by higher vehicle prices and record profit margins of 12 percent in North America. Worldwide, Ford earned $ 800 million more through price increases than it did last year. Half of that jump came from North America, where Ford has earned more than $ 2 billion and posted margins over 10 percent for three quarters in a row. The No. 2 U.S. automaker’s strength in North America offset the effects of the sharp industry downturn in Europe, where Ford expects to lose at least […]

NEW YORK The United States filed a fraud lawsuit against Bank of America Corp, accusing it of causing taxpayers more than $ 1 billion of losses by selling thousands of toxic mortgage loans to Fannie Mae and Freddie Mac. Wednesday’s case, originally brought by a whistleblower, is the U.S. Department of Justice’s first civil fraud lawsuit over mortgage loans sold to the big mortgage financiers, which were bailed out in 2008. It also compounds the legal problems that Bank of America Chief Executive Brian Moynihan faces over the second-largest U.S. bank’s disastrous July 2008 purchase of Countrywide Financial Corp, once […]

South America’s first Dreamliner to start flights within two monthsLAN and TAM will continue to operate as separate brands despite mergerCEO says Latin Americans ‘aren’t scared’ of economic downturn It’s been a big year for Chile’s airline industry. In June, the country’s flag carrier LAN completed its takeover of Brazil’s biggest airline TAM.In recent weeks the aptly named merged group, LATAM, has welcomed the continent’s first ever Dreamliner 787 to its runways. Another one is due to touchdown before the end of 2012 – and a further 30 will arrive within the next ten years.The $ 4.9 billion order represents […]

– The plain modest clothes; the women in their white head scarves, the men with their braces and beards. They are quiet, polite and keep themselves to themselves. Riding an Amtrak train is a unique opportunity to see the Amish people up close – or at least as close as anyone from so far outside their close knit community is likely to get.The Amish people reject modern machinery and the motor car, but train travel is acceptable for longer journeys. At a time when just about everyone in America is following the presidential election, this is one group who are […]

In a 182-page report released last month, the Securities and Exchange Commission arrives at a stark conclusion: Americans as a group have a weak grasp of financial concepts and lack basic investment knowledge. The SEC Study Regarding Financial Literacy Among Investors was mandated by the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act. Its findings draw upon a variety of sources including online surveys, focus groups, public comments and review of other studies, including a Library of Congress report on financial literacy. Financial literacy findings Even with the tremendous amount of information available both online and offline, many Americans […]

Who would have thought pale, flesh-eating monsters would be so engrained in American pop culture? Zombies have got everyone talking these days, from lighter Zombie parades and relay races to talks of a zombie apocalypse across the blogosphere, sparked by last month’s brutal cannibal attack in Miami. So what’s got the country so hooked on the undead? Cliff Courtney, EVP and chief strategy officer for Zimmerman Advertising, said America as a society loves to “resurrect the dead.” Not in the zombie sense, per se, but as far as trends go, Zimmerman said we need to only look to the past […]

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