Tallest tower in US proposed in Chicago
International Property Developers announced plans to build a $3.5 billion office, residential, hotel and retail project in downtown Chicago, including a 120-story tower that would be the tallest in the United States.
The company, led by Monaco-based investor Bill Davies, filed a proposal with city planners Friday.
The tower, at about 2,000 feet, would be taller than both the 1,729-foot Willis Tower, formerly known as Sears Tower, in Chicago, and the 1,776-foot 1 World Trade Center being built in New York.
But making such skyscrapers work financially is difficult, said Richard Green, director of the Lusk Center for Real Estate at the University of Southern California.
Twins dealt new setback in fight against Facebook
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A federal judge in Boston on Friday dismissed a lawsuit against Facebook filed by Cameron and Tyler Winklevoss, Harvard classmates of CEO Mark Zuckerberg.
The Winklevoss twins' claim that Zuckerberg stole the idea for Facebook from them got the Hollywood treatment last year in the hit movie "The Social Network."
Judge Douglas P. Woodlock dismissed the lawsuit the brothers filed in 2007.
In 2008, Facebook agreed to pay them $65 million in cash and stock, but they and partner Divya Narendra wanted more.
US Airways wanted to use unsafe jet, pilot union says
US Airways' pilot union accused the airline Friday of trying to force pilots to fly an unsafe plane, an accusation the airline said is designed to pressure management during ever-more-caustic labor talks.
The US Airline Pilots Association claims in a full-page USA Today ad Friday that on June 16, the Tempe-based company attempted to force a pilot to fly a nighttime trans-Atlantic flight on a plane with a faulty electrical system. The union says the plane was at risk of losing all electrical power and communications during the flight.
The flight departed hours later after repairs were made.
US Airways categorically denied all the allegations, and said the airline recently passed a safety audit by the International Air Transport Association trade group.
IPhone availability helps Verizon add subscribers
Verizon Communications Inc. is seeing a big boost from the iPhone, adding more new subscribers on contracts in the second quarter than it has in 2 1/2 years.
Yet AT&T Inc., which had been the exclusive seller of Apple Inc.'s iconic phone in the U.S. until February, still activates three iPhones for every two Verizon does.
Rule giving shareholders greater power is nullified
Business lobbies won a major victory over shareholders Friday in the battle for control of corporate boards. A federal appeals court in Washington struck down an SEC rule that would have made it easier for stockholders to throw out directors and put forward their own candidates for seats.
From Bloomberg News, Washington Post, The Associated Press