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  • GM recalls 221,558 sedans for fire risk Saturday, 20 Sep 2014 | 6:11 PM ET

    DETROIT— General Motors is recalling 221,558 Cadillac XTS and Chevrolet Impala sedans because the brake pads can stay partially engaged even when they're not needed, increasing the risk of a fire. The recall involves Cadillacs from the 2013-2015 model years and Impalas from the 2014 and 2015 model years.

  • EXCLUSIVE-LAW FIRMS BINGHAM, MORGAN LEWIS, AGREE TO MERGE. Sept 20- Leaders of two of the United States' largest law firms, Boston- based Bingham McCutchen and Philadelphia's Morgan Lewis& Bockius, have agreed to merge, according to three people familiar with the matter.

  • Chrysler recalling nearly 189,000 SUVs Saturday, 20 Sep 2014 | 9:47 AM ET

    The recall, posted Saturday by the National Highway Traffic Safety Administration, covers some 2011 models with 3.6- liter V6 or 5.7- liter V8 engines. Chrysler says a relay can fail, increasing the risk of a crash, although the company said that as of Aug. 25, it wasn't aware of any crashes or injuries.

  • Business Highlights Friday, 19 Sep 2014 | 5:47 PM ET

    NEW YORK— Alibaba debuted as a publicly traded company Friday and swiftly climbed more than 40 percent in a mammoth IPO that offered eager investors seemingly unlimited potential for growth and a way to tap into the burgeoning Chinese middle class.

  • A deal Detroit reached last week with Oakland, Wayne and Macomb counties creates a regional water and sewer authority, but allows Detroit to maintain control of its local system.

  • BUSINESS-NEWS-SCHEDULE AT 1600 GMT / 12:00 p.m. ET Friday, 19 Sep 2014 | 12:01 PM ET

    Alibaba expected to rise in trading debut on heavy interest. NEW YORK- Alibaba Group Holding Ltd's shares surge 41 percent to $96.02 on their first day of trading as many investors who received fewer shares than hoped lined up orders to buy what looks likely to be the largest IPO in history. Wall St rises as Scots stay in UK, Alibaba debuts.

  • LONDON, Sept 19- The zinc rally has run out of steam. But the benchmark LME three-month price has over the last couple of weeks retreated from above $2,400 per tonne to a current $2,260. The LME's Commitments of Traders Report showed money managers trimming their net long position by 12,271 lots, or 306,775 tonnes, in the week to Sept. 12.

  • First sales in the United States are likely by the end of 2015, and sales in China about the same time, said Cadillac spokesman David Caldwell. If there is a lag between introduction in the United States and China, it will be a short one, he said.

  • GM's Cadillac to introduce high-end model Friday, 19 Sep 2014 | 7:36 AM ET

    DETROIT, Sept 19- As it strives to energize its Cadillac brand that once dominated the U.S. luxury auto market, General Motors Co said on Friday it will begin production of a new "top-end, high-technology car" by the end of 2015.. Its public debut will be in the first half of 2015. It will be built at GM's Detroit- Hamtramck plant.

  • GM to introduce new, high-end Cadillac next year Friday, 19 Sep 2014 | 6:55 AM ET

    DETROIT— General Motors will begin building a new, top-end Cadillac sedan late next year at its Detroit- Hamtramck assembly plant. The new Cadillac is part of a $384 million investment GM announced last spring in the assembly plant, which straddles the border of Detroit and the enclave of Hamtramck.

  • DETROIT, Sept 18- The Detroit Institute of Arts is prepared to sue to prevent the sale of its collection if Detroit's plan for exiting bankruptcy is not approved, the museum's chief operating officer told U.S. Bankruptcy Court on Thursday.

  • DETROIT, Sept 18- A federal grand jury in Detroit on Thursday indicted seven executives from two Japanese auto parts makers on charges of price fixing, the U.S. Department of Justice said.

  • BEIJING/ DETROIT, Sept 18- Chinese auto parts producer Wanxiang Group, which bought stylish electric car pioneer Fisker Automotive from bankruptcy, is accelerating the relaunch of Fisker's Karma hybrid luxury car by using a design from the company's last year of production, people close to the companies said.

  • Google Inc got permits for testing 25 adapted Toyota Motor Corp Lexus SUVs, and two permits each went to Daimler AG's Mercedes-Benz and Volkswagen AG's Audi, said Bernard Soriano of the California Department of Motor Vehicles. Lexus, Mercedes-Benz and Audi are all luxury brand vehicles.

  • Sept 18- Mercedes-Benz, the luxury brand of Daimler AG, has received one of the first California licenses for self-driving cars, the company said on Thursday.

  • Bloomberg, Buffett at Detroit small business event Thursday, 18 Sep 2014 | 4:02 AM ET

    DETROIT— More than 60 local business owners graduated Thursday from Goldman Sachs' 10,000 Small Businesses program and were cheered on by some high-profile people— former New York City Mayor Michael Bloomberg, billionaire investor Warren Buffett, Michigan Gov. Rick Snyder and Detroit Mayor Mike Duggan.

  • Sept 17- The Michigan Strategic Fund board gave final approval on Wednesday for the sale of up to $450 million of 30- year revenue bonds for a downtown Detroit arena that will be home to the National Hockey League's Detroit Red Wings.

  • Kent Hiteshew, director of the Treasury's newly-formed Office of State and Local Finance, told a meeting of bond attorneys that he was aware of concerns that the elimination of municipal bonds from the definition of banks' high-quality liquid assets could potentially limit bank demand for the debt, pumping up costs of new bond issuance.

  • Kent Hiteshew, director of the Treasury's newly-formed Office of State and Local Finance, told a meeting of bond attorneys that he was aware of concerns that the elimination of municipal bonds from the definition of banks' high-quality liquid assets could potentially limit bank demand for the debt, pumping up costs of new bond issuance.

  • UPDATE 1-Judge pauses Detroit's bankruptcy trial again Wednesday, 17 Sep 2014 | 9:14 AM ET

    Bankruptcy Judge Steven Rhodes ordered a week-long break in Detroit's bankruptcy trial on Wednesday, giving the last major objector to the city's restructuring plan time to rework its case.