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Three new models crucial to U.S. automakers received four-star ratings in U.S. government crash-safety tests that were toughened in response to concerns voiced by safety and consumer groups.
But the latest version of the Toyota Camry, the best-selling car in North America, earned an average three stars and was outperformed by virtually every other vehicle in a first analysis of fifty-five 2011 models conducted by the Transportation Department. Get the full story »
The U.S. Federal Reserve should do “much more” monetary easing to spur a sluggish economic recovery, a top Fed official said in an interview published Tuesday.
“In the last several months I’ve stared at our unemployment forecast and come to the conclusion that it’s just not coming down nearly as quickly as it should,” Chicago Federal Reserve Bank President Charles Evans told the Wall Street Journal. Get the full story »
The Federal Aviation Administration has issued an interim requirement that planes landing after either of Boeing’s two new airplanes, the 787 Dreamliner and the 747-8 jumbo jet, stay at least 10 miles behind.
The current requirement for large airplanes, including the 747-400 in service, is just 4 miles separation from other heavy jets and up to 6 miles from light aircraft. Get the full story »
The Federal Communications Commission is requesting more information from Comcast Corp. and NBC Universal. Regulators are reviewing the cable operator’s plan to acquire a controlling stake in the media company. Get the full story »
U.S. regulators Monday delayed implementation of their rule giving shareholders more power to influence corporate boards, a win for business groups trying to overturn the rule.
The U.S. Chamber of Commerce and Business Roundtable sued the Securities and Exchange Commission last week, saying its recently adopted rule was arbitrary and capricious. Get the full story »
The Federal Reserve’s asset purchases lowered borrowing costs and helped the economy, and more buying could further ease financial conditions, Federal Reserve Chairman Ben Bernanke said on Monday.
“I don’t have a number to give you, but I do think that the additional purchases, although we don’t have precise numbers, have the ability to ease financial conditions,” Bernanke said. Get the full story »
U.S. airlines Monday said their flights and schedules were unaffected by the U.S. State Department alert issued Sunday to warn American tourists of the potential for attacks by al-Qaeda and other groups in Europe. Get the full story »
U.S. health regulators have requested more data on Johnson & Johnson’s chronic pain treatment before they will approved the product, the company said Monday.
The Food and Drug Administration sent J&J a complete response letter for J&J’s tapentadol extended release tablets. Get the full story »
New orders received by U.S. factories fell by 0.5 percent in August, resuming a downtrend as demand for transportation equipment declined sharply, according to a Commerce Department report on Monday.
Total orders fell to a seasonally adjusted $408.9 billion after an upwardly revised 0.5 percent increase in July and a 0.6 percent fall in June. Economists surveyed by Reuters had forecast a decline of 0.4 percent in August. Get the full story »
American International Group Inc. laid out a plan on Thursday that sets the company on a path for an accelerated payback of taxpayer bailout money, but also increases the risk for the government.
The plan, which comes a little over two years after AIG was rescued from the brink of collapse, will see the Federal Reserve Bank of New York getting repaid in full and ending its involvement in AIG, leaving the company to deal with just the Treasury Department. Get the full story »
U.S. Federal Reserve officials on Wednesday offered differing views on whether the U.S. central bank should do more to support the economy and what impact more easing could have. Get the full story »
Women managers in the United States are paid 81 cents for every dollar earned by male managers, according to a government report released Tuesday.
The 19-cent wage gap marks a slight narrowing from a study seven years earlier that showed women managers making 79 cents for each man’s dollar, said the report by the U.S. Government Accountability Office. The study compared U.S. Census Bureau data from 2000 to 2007. Get the full story »
Airlines appeared on a potential collision course with regulators on Friday over the cost of carrying out proposed checks on over 100,000 passenger seats in the wake of a row over questionable safety data.
U.S. and European safety agencies said on Thursday they were proposing mandatory checks on Koito-manufactured seats, estimated to affect 150,000 seats on 1,000 mainly Airbus and Boeing planes. Get the full story »
Moody’s Investors Service revised the outlook on Illinois’ A1 general obligation debt rating to negative from stable, citing intensified financial stress facing the state.
“The state reported a very large negative fund balance for fiscal 2009 and has faced fragile economic conditions and continuing uncertainty over its ability to meet pension funding obligations,” Moody’s said in a statement. Get the full story »
