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NEW YORK— Russian steel company Severstal is exiting the U.S. market, selling a pair of steel plants to AK Steel and Steel Dynamics for about $2.33 billion. Steel Dynamics Inc. said Monday that it will pay about $1.63 billion for Severstal Columbus, which is located in northeast Mississippi.
July 21- Steel Dynamics Inc will buy Severstal's mini-mill in Columbus, Michigan for $1.62 billion in cash, and AK Steel will buy the Russian steelmaker's assets in Dearborn, Michigan for $700 million in cash. Last month, CEO Alexey Mordashov said that selling the U.S. assets could help decrease Severstal's debt and make the company a lot more profitable.
July 21- Steel Dynamics Inc will buy Severstal's Columbus mini-mill for $1.62 billion in cash, and AK Steel will buy the Russian steelmaker's assets in Dearborn, Michigan for $700 million in cash. AK Steel said the deal also included a cokemaking facility and interests in three joint ventures that process flat-rolled steel products.
HARTFORD, Connecticut— Private jet sales are rising again, climbing out of a deep recession when the company plane was an easy target for spending cuts. The chief executive of General Dynamics Corp., maker of Gulfstream jets, says corporate customers are back and wealth creation is bringing out shoppers for private jets.
DETROIT— A federal judge in Atlanta has sent an important wrongful death lawsuit against General Motors back to a Georgia court. Judge Thomas Thrash Jr. ruled Friday that a Cobb County judge should handle the case filed by the family of Brooke Melton.
DETROIT— Toyota wants to help you scream at your unruly kids. Toyota says it added Easy Speak "so parents don't have to shout to passengers in the back. Automakers are trying to come up with creative ways to make the out-of-fashion minivan more appealing, said Jessica Caldwell, senior analyst at the Edmunds.com automotive website.
WASHINGTON— Since the Great Recession officially ended in June 2009, the U.S. economy has generated 7.8 million jobs. North Dakota, benefiting from an oil and gas drilling boom, has created nearly 98,000 jobs over the past five years, a 27 percent increase-- by far the best in the country.
DETROIT— Kia is recalling nearly 52,000 Soul small SUVs to fix a problem that can cause steering failure. The recall covers vehicles from the 2014 model year built from July 21, 2013, through Jan. 17, 2014. The Korean automaker says a plug that secures a pinion gear to the steering assembly can loosen and cause the gear to separate.
*Ukraine says rebel missile shoots down Boeing 777 with 298 aboard. HRABOVE, Ukraine, July 18- World leaders demanded an international investigation into the shooting down of a Malaysian airliner over eastern Ukraine in which all 298 people on board were killed, a tragedy that could further heighten tensions between Russia and the West.
*Ukraine says rebel missile shoots down Boeing 777 with 298 aboard. HRABOVE, Ukraine, July 18- The United States believes a surface-to-air missile brought down a Malaysian airliner that crashed in eastern Ukraine on Thursday, killing all 298 people on board, an incident that sharply raises the stakes in a conflict between Kiev and pro- Moscow rebels.
SINGAPORE, July 18- Gold climbed on Friday on safe-haven demand after a Malaysian airliner was downed in eastern Ukraine, killing nearly 300 people onboard, escalating geopolitical tensions and pushing down global equity markets.
SEOUL, July 18- U.S. crude oil futures rose in early Asian trade on Friday towards $104 a barrel, after jumping $2 in the previous session on news that a Malaysian airliner was shot down over eastern Ukraine.
July 17- U.S. orthopedics company Stryker Corp on Thursday reported slightly higher second-quarter profit that was in line with Wall Street expectations and said it was always in the market for deals. In the most recent such deal in the medical device sector, Medtronic Inc last month agreed to buy Covidien for $43 billion.
Vice President Joe Biden said on Thursday it appeared that the downing of a Malaysian airliner near the Ukraine- Russia border was not an accident and that the passenger jet apparently was "blown out of the sky." "This is truly a grave situation," Biden said in a speech in Detroit. He spoke by phone to Ukraine President Petro Poroshenko.
Vice President Joe Biden said on Thursday that the downing of a Malaysian airliner near the Ukraine- Russia border apparently was "not an accident" and that the passenger jet was "blown out of the sky." Biden, in a speech in Detroit, said there may have been Americans on board and determining that was the first priority for the United States.
DETROIT— General Motors says it has replaced faulty ignition switches on just under 20 percent of 2.6 million small cars that are being recalled. Switch maker Delphi Automotive says it has produced over 1 million parts and expects to have made 2 million by the end of August.
July 17- U.S. senators on Thursday demanded to know why General Motors Co did not fire its top lawyer after it was revealed this year that the automaker's litigation department knew of a widespread and deadly ignition flaw but failed to escalate the safety issue.
WASHINGTON— The House passed a package of tax breaks Thursday designed to boost charitable donations by seniors, private foundations and procrastinators. The White House threatened to veto the bill because it would add $16 billion to the budget deficit over the next decade.
WASHINGTON— Lawmakers demanded General Motors fire its chief lawyer and do more to help crash victims as a Senate subcommittee delved deeper into GM's mishandling of the recall of small cars with defective ignition switches. Thursday's grilling was GM's fourth appearance before Congress, but senators aren't done with their investigation.
July 17- The chief executive of Delphi Automotive, the auto supplier that supplied the defective switch to General Motors Co that has been linked to at least 13 deaths, said on Thursday that the automaker was responsible for approving the faulty part design.