CNN Money: Top business headlines for July 18

    6:35 AM, Jul 18, 2013   |    comments
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    NEW YORK (CNN) -- CNN Money's Maribel Aber has your top business and financial news on this Thursday, July 18.

    IRA balances hit five-year high, Fidelity says
    Balances on individual retirement accounts reached a five-year high in 2012 amid stock market gains and a surge in Roth IRA conversions. The average IRA balance -- including both traditional IRAs and Roth IRAs -- stood at $81,100 at the end of 2012, up 53% from 2008 when balances hit their lowest point since the market meltdown, according to Fidelity Investment's analysis of nearly seven million IRA accounts.

    Fidelity National Information Services eyes $3M expansion in Little Rock
    The city of Little Rock's board of directors voted Tuesday to certify Fidelity National Information Services Inc. of Jacksonville, Fla., for an incentives program that would help the company add at least 150 jobs to its Little Rock campus.
    According to the resolution, Fidelity is planning a $3 million expansion at its campus at 4001 N. Rodney Parham Road. The resolution said the company will expand "an existing facility" and purchase "technology equipment, HVAC, office equipment and work stations."

    Ken Reeves of Harrison named to Arkansas Game and Fish Commission
    Gov. Mike Beebe on Wednesday named Ken Reeves of Harrison as the newest commissioner of the Arkansas Game and Fish Commission.\Ken grew up hunting and fishing in the natural beauty of north Arkansas, and has experienced our entire state's outdoor destinations that need to be both enjoyed and conserved," Beebe said in a news release. "His lifetime of legal experience will also serve him well as matters come before the Commission requiring thoughtful and objective review."

    Elon Musk thinks he can get you from NY to LA in 45 minutes
    Elon Musk wants to revolutionize transportation. Again. The serial entrepreneur envisions a future where mag-lev trains in enormous pneumatic tubes whisk us from Los Angeles to New York in 45 minutes. Need to be in Beijing tomorrow? No problem. It's a two-hour ride away. As crazy as it sounds, Musk is merely updating an idea that's been around since the early 1900s, and at least one company is working on a functional prototype. But according to Wired sources, his involvement won't be nearly as hands-on as Musk's other endeavors at Tesla Motors and SpaceX.



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