NEW YORK (CNN) -- CNN Money's Maribel Aber has your top business and financial news on this Monday, March 25.
Senate passes its first budget proposal in four years
The Democrat-controlled Senate passed its first formal budget proposal in four years early Saturday after hours of non-stop voting that started Friday evening. The non-binding plan for the 2014 budget calls for a trillion dollars in tax increases and passed 50 to 49. No Republicans voted for the bill, and four Democrats voted against it. It now goes to the House, where it is expected to be shot down. Senators recently voted down a budget proposal passed by the Republican-controlled house.
Who's in the tower? At some regional airports soon: Nobody
The Federal Aviation Administration on Friday told 149 regional airports across the country it would begin closing their air traffic control towers in April, but said it would spare another 40 towers that had been on the chopping block. The agency said the cuts are necessary to help meet $637 million in forced spending cuts. The tower closures will begin April 7 and will be phased in over four weeks, FAA Chief Operating Officer David Grizzle said in a memo obtained by CNN. Some towers were spared after the FAA considered appeals from towers, and consulted with the departments of defense and homeland security.
Dillard's launches new $250M ahare buy-back program
Dillard's Inc. of Little Rock said Friday that its board of directors has approved a new $250 million share repurchase program. The department store chain (NYSE: DDS) said the program will authorize it to buy back up to $250 million in Class A Common Stock. As of Feb. 2, retailer had already purchased $92 million in stock under its previous $250 million repurchase program. Dillard's said the new open-ended authorization permits the company to repurchase its stock in the open market or through privately negotiated transactions.
Little buzz for Blackberry launch
Research In Motion Ltd.'s BBRY -7.74% new BlackBerry appeared to land with a thud in its U.S. debut Friday, failing to produce the crowds or buzz of competitors' recent smartphone launches. The all-touchscreen Z10-seen as critical in helping to resurrect BlackBerry's standing in the market-went on sale Friday at AT&T Inc. T +0.77% stores and Best Buy Co. BBY +1.42% outlets in the U.S. Despite the Canadian company's largest-ever marketing push, there was little fanfare at some of these stores.