The recall affects X5 xDrive 35d models with diesel engines from the 2009 through 2012 model years. The U.S. National Highway Traffic Safety Administration says the bolt holding a belt pulley can loosen and break. If that happens the SUVs can lose power-assisted steering, increasing the risk of a crash.
The National Association of Manufacturers sent a Key Vote letter to senators urging passage of the Russia and Moldova Jackson-Vanik Repeal Act. This legislation will grant the United States Permanent Normal Trade Relations with Russia to grow U.S. exports and secure market access to help create American jobs.
Like most consumer electronics companies, Apple lets contract manufacturers assemble its products overseas. However, the assembly accounts for little of the cost of making a PC or smartphone. Most of the cost lies in buying chips, and many of those are made in the U.S., Cook noted in his interview with NBC.
Samsung seeks to overturn an Aug. 24 jury verdict that found the Korean tech titan ripped off Apple Inc.'s designs for its iPhone and iPad. The jury ordered Samsung to pay Apple $1 billion after finding close to two dozen of its products used technology controlled by Apple.
Authorities say a contractor performing maintenance work at a northwestern Indiana power plant has died after an apparent fall.Porter County Coroner Chuck Harris says 49-year-old Troy Jabaay of Hebron died Tuesday at Porter Regional Hospital. He tells The Times and the Post-Tribune that preliminary reports indicate Jabaay fell from scaffolding at Northern Indiana Public Service Co.'s Schahfer Generating Station.
The complaint alleges that the Nap Nanny Generation One and Two, and Chill model infant recliners contain defects in the design, warnings and instructions, which pose a substantial risk of injury and death to infants. The Commission voted 3-0 to approve the filing of the complaint, which seeks an order requiring that the firm notify the public of the defect and offer consumers a full refund.
The National Retail Federation issued a statement from President and CEO Matthew Shay on the negotiated settlement between The International Longshore and Warehouse Union Local 63 Office Clerical Unit and the Harbor Employers Association at the Ports of Los Angeles and Long Beach.
A trader from New York has been charged in a scheme that involved the unauthorized purchase of about $1 billion of Apple stock that wound up costing his Connecticut-based employer $5 million, federal prosecutors said Tuesday. As a result of the scheme, Rochdale was left holding more than 1.6 million shares of Apple stock, authorities said. It promptly traded out of the position but suffered losses of about $5 million.
A former worker told state media Wednesday he set the fire that killed 14 young workers at a Chinese undergarment factory because he was angry about less than $500 in unpaid wages. The suspect, Liu Shuangyun, told the Guangdong TV broadcaster in a jailhouse interview that he started the fire "because I couldn't get my salary," which he had been owed since quitting the factory three years ago.
If Washington really does fail to avert the looming series of tax hikes and spending cuts, the White House will portray Republicans as the culprits for insisting on protecting tax cuts for the wealthy, an effort the administration is laying the groundwork for now.
The company said Tuesday that it has had seven reports of fires in 1.6-liter EcoBoost engines sold in Europe. The engines are used in the Focus and Mondeo sedans and Galaxy minivan. Last week Ford recalled more than 89,000 new Escape SUVs and Fusion sedans in North America because the 1.6-liter engine can overheat and catch fire.
Banks and finance companies are writing more auto loans to subprime buyers, approaching prerecession levels. Experian Automotive said Tuesday that 42 percent of new and used car loans written in the third quarter went to subprime buyers, up from 40 percent in the same quarter a year ago. That's still slightly below the 43 percent that went to subprime buyers in the third quarter of 2007, before the recession began.
The price of oil inched up closer to $89 a barrel on Wednesday on expectations U.S. political leaders will reach a budget deal before a year-end deadline and growing confidence that the Chinese government would introduce new stimulus measures to strengthen the world's second-largest economy.
An Oklahoma City-based company says it will build a $120 million nitric acid plant at a chemical facility in El Dorado, Ark., that was the site of an explosion in May. LSB says that insurance will pay for much of the construction, though the full amount of the ultimate insurance payment isn't known.
Alcoa Inc. has decided to shut down a northeastern Indiana factory after cutting hundreds of jobs there over the past decade. The company announced Tuesday that the Auburn factory will end operations in March. The factory has 25 hourly and 18 salaried workers. The Pittsburgh-based company says the closing decision is part of its efforts to streamline operations.