US regulators close investigation into Ford Escape door latches and will not seek a recall

US regulators close investigation into Ford Escape door latches and will not seek a recall

DETROIT — U.S. auto safety regulators have closed an investigation into complaints that the doors on some Ford Escapes can open while the SUVs are being driven, without seeking a recall. The National Highway Traffic Safety Administration says its probe opened last July found that there is a low potential hazard to drivers, and that…

AmEx 4Q profits jump 23% as cardmembers carry heftier balances

AmEx 4Q profits jump 23% as cardmembers carry heftier balances

American Express saw its fourth quarter profits jump 23% from last year, as more cardmembers have started keeping a balance on their accounts compared to previous years, which has brought in more interest income for the credit card giant NEW YORK — American Express’ fourth quarter profits jumped 23% from last year as more cardmembers…

JetBlue informs Spirit “certain conditions” of $3.8 billion buyout deal may not be met by deadline

JetBlue informs Spirit “certain conditions” of $3.8 billion buyout deal may not be met by deadline

NEW YORK — JetBlue Airways warned Friday that it may end its bid to acquire low-cost carrier Spirit Airlines as soon as this weekend, sending Spirit shares tumbling. A federal judge this month sided with the Justice Department and blocked JetBlue’s proposed $3.8 billion purchase of Spirit. The Justice Department sued to block the merger,…

Britain’s post-Brexit trade talks with Canada break down as they disagree over beef and cheese

Britain’s post-Brexit trade talks with Canada break down as they disagree over beef and cheese

LONDON — The British government has called off post-Brexit trade talks with Canada after discussions broke down over disagreements related to the import and export of beef and cheese. The two countries have been negotiating a new trade deal over the past two years since Britain fully left the European Union. Trade between the two…

Norfolk Southern’s fourth-quarter profit falls 33% as Ohio derailment costs continue to grow

Norfolk Southern’s fourth-quarter profit falls 33% as Ohio derailment costs continue to grow

Norfolk Southern’s fourth-quarter profit fell 33% because of the ever growing costs of the cleanup of last year’s fiery derailment in eastern Ohio, but the railroad did deliver 3% more shipments during the quarter and even without the costs related to that toxic crash its profits still would have been down 14%. The Atlanta-based railroad…

Inflation slowed further in December as an economic ‘soft landing’ moves into sharper focus

Inflation slowed further in December as an economic ‘soft landing’ moves into sharper focus

WASHINGTON — The Federal Reserve’s preferred inflation gauge cooled further last month even as the economy kept growing briskly, a trend sure to be welcomed at the White House as President Joe Biden seeks re-election in a race that could pivot on his economic stewardship. Friday’s government report showed that prices rose just 0.2% from…

Levi Strauss slashing corporate jobs, looking to go upscale under new CEO Michelle Gass

Levi Strauss slashing corporate jobs, looking to go upscale under new CEO Michelle Gass

Levi Strauss forecast annual sales and profit below Wall Street expectations on Thursday and said it would cut 10% to 15% of global corporate jobs as the denim maker seeks to rein in costs amid weakness in its wholesale business. Levi attributed the weak forecast to plans to exit its Denizen brand and cut back on off-price sales,…

Missiles targeting a ship off Yemen explode without damage, the UK military says

Missiles targeting a ship off Yemen explode without damage, the UK military says

JERUSALEM — Two missiles apparently targeting a ship off Yemen exploded Friday, though they caused no damage or injuries, the British military said. The British military’s United Kingdom Maritime Operations, which oversees Mideast waterways, said the attack happened southwest of the Yemeni city of Aden, in the Gulf of Aden. No group immediately claimed responsibility….

Edward E. Crutchfield, 82, Dies; Banker’s Deals Reshaped the Industry

Edward E. Crutchfield, 82, Dies; Banker’s Deals Reshaped the Industry

Edward E. Crutchfield, a banker who grew a small North Carolina bank into one of the nation’s largest through a deal-making spree that earned him the nickname “Fast Eddie” and helped establish Charlotte as a national financial hub, died on Jan. 2 at his home in Vero Beach, Fla. He was 82. His death was…

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