NEW YORK (CNN) -- CNN Money's Maribel Aber has your top business and financial news on this Wednesday, June 19.
University of Arkansas athletic department projects $80.6M budget
The University of Arkansas athletic department is projecting $80.6 million in revenue for the 2013-14 fiscal year. It's a 6.3 percent increase from the $75.6 million projected for the 2012-13 budget. Arkansas made the budget available after a Freedom of Information Act request. Included in the revenue projects are $26.5 million from football ticket sales and $20.5 million in SEC/NCAA distribution. Arkansas expects nearly $13 million in donations, $6.4 million in basketball ticket sales, $5.8 million from multimedia rights/sponsorships, $3.5 million in trademark licensing and $1.85 million from baseball ticket sales.
Walton Family Foundation gives two education groups $1.3M
The Walton Family Foundation said Tuesday that it had given a total of $1.3 million to two organizations working to improve Arkansas' K-12 schools. The foundation, led by members of the Walton family that founded Wal-Mart Stores Inc. of Bentonville, gave $875,000 to the Arkansas Advanced Initiative for Math and Science and $450,000 to the Arkansas Tech University Center for Executive Leadership.
Chrysler relents, agrees to recall 2.7 million Jeeps
Chrysler Group reversed course and agreed to a recall of 2.7 million Jeeps Tuesday, giving in to the government's request in the final hours before a deadline. Chrysler stated last week that it would not comply with the recall demand, arguing that the vehicles do not have a high risk of catching fire when struck from behind. It continued to claim Tuesday that the vehicles -- 1993 to 2004 Jeep Grand Cherokees and 2002 to 2007 Jeep Libertys -- are safe. Its statement said it will recall the vehicles for inspection and, in "some cases," will "provide an upgrade to the rear structure of the vehicle to better manage crash forces in low-speed impacts."
The world's best airline is...
Emirates has been voted the world's best airline by passengers at the annual Skytrax World Airline Awards. The awards -- decided by 18.2 million passengers in 160 countries around the world -- judge airlines on everything from the cleanliness of the cabin to the quality of the in-flight food and entertainment. Dubai-based Emirates took the debut prize in 2001, and retained it in 2002, before missing out on the top spot for a decade.