Business

Business

Wired In: Tanay Vardhan

Each week, staff writer Paul Wood talks with a different high-tech difference-maker. This week, meet TANAY VARDHAN, a University of Illinois senior pursuing a degree in aerospace engineering with a minor in computer science. He's passionate about web development and working on a startup called Turkbox.

Tell us about Turkbox.

Meredith Corp. selling Fortune brand for $150M to Thai businessman's firm

NEW YORK (AP) — Media and publishing giant Meredith Corp. says it is selling its Fortune brand for $150 million in cash to Fortune Media Group.

The deal, subject to regulatory approval, is expected to close by the end of the year. Meredith said Friday it will use the proceeds to pay down debt.

Latest deal for Urbana's Landmark Hotel falls through

URBANA — The back-up bidder for the Landmark Hotel has backed out.

After selling for $1.3 million in an auction this September, the top bidder failed to put a deposit down.

So it went to the second-place bidder of $1.2 million, who the property's broker, Rick George, said had experience in historic preservation.

Walmart to offload 570 office workers onto outside firm

BENTONVILLE, Ark. (AP) — Walmart Inc. is transferring 570 finance and accounting employees at its Arkansas headquarters to an outside company that will help manage part of the retailer's financial operations.

New York-based Genpact will hire all the workers who wish to make the move and will keep them in Bentonville, where Genpact is leasing a building on Walmart's campus.

Ford buys electric-scooter-sharing company Spin

NEW YORK (AP) — Ford Motor Co. has bought an electric-scooter-sharing company, expanding its presence in alternative modes of transportation.

The century-old automobile company announced its acquisition of Spin, a San Francisco-based dockless scooter-sharing company, on Wednesday.

Google reforms sexual misconduct rules

SAN FRANCISCO (AP) — Google is promising to be more forceful and open about its handling of sexual misconduct cases, a week after high-paid engineers and others walked out in protest over its male-dominated culture.

China's exports to U.S. tick up as traders try to beat tariffs

BEIJING (AP) — Growth in Chinese exports to the United States ticked up in October as traders rushed to beat a new tariff hike in a battle over Beijing's technology policy.

Foldable screens getting push as next big thing for phones

SAN FRANCISCO (AP) — For the past few years, the smartphone industry has been searching for a breakthrough to revive a market mired in an innovation lull and a sales slump. A potential catalyst is on the horizon in the form of flexible screens that can be folded in half without breaking.

AG seeks default judgment against Suburban Express, accuses it of stalling

CHAMPAIGN — Illinois Attorney General Lisa Madigan is seeking a default judgment against Champaign-based Suburban Express and is accusing the bus company of stalling.

Madigan sued the bus company and its owner, Dennis Toeppen, in April for alleged discrimination and harassment of his customers, with the goal of getting the company to follow the law or go out of business.

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