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  • Japan automakers expand passenger air bag recalls Thursday, 11 Dec 2014 | 2:44 AM ET

    TOKYO— Honda, Nissan and Mitsubishi announced more recalls for the same possibly defective Takata air bags that Toyota recalled earlier this month after one exploded during scrapping in Japan. Nissan Motor Co. said Thursday it's recalling the Presage, X-Trail and other models totaling 83,000 vehicles in Japan, some 6,000 in China, another 49,000 in Europe and...

  • SYDNEY, Dec 11- Global aluminium premiums are expected to reach fresh record highs by mid-2015 on a supply deficit in the United States and Europe, a Reuters survey showed. "The world, excluding China, will continue to be in short supply due to shut downs, production curtailments and strong demand in South America and North America," said one respondent.

  • Deal to allow multiemployer pension benefits cuts Wednesday, 10 Dec 2014 | 5:59 PM ET

    George Miller, D- Calif., who worked the deal out with Rep. But it quickly drew fire from some labor unions and AARP, who denounced what they call backroom deal-making that will create hardships for older Americans. These plans are usually found in industries that have many small employers that would not ordinarily put together a pension plan on their own, according...

  • USDA sees higher corn, soybean demand in report Wednesday, 10 Dec 2014 | 3:09 PM ET

    Some analysts expect that the USDA may adjust the number of corn acres planted, which currently exceeds the agency's estimates by about 5 million acres. But there was no such adjustment, and Iowa State University agricultural economist Chad Hart believes the USDA will wait to do in January, if necessary. Changing the number of acres planted— which are reported on...

  • DETROIT, Dec 10- Detroit will officially exit the biggest-ever U.S. municipal bankruptcy later on Wednesday, officials said, allowing Michigan's largest city to start a new chapter with a lighter debt load. The city will reissue $287 million of existing bonds and also borrow about $275 million from Barclays Capital to finance its exit from bankruptcy.

  • Detroit mayor: Challenges remain after bankruptcy Wednesday, 10 Dec 2014 | 11:49 AM ET

    DETROIT— The formalities may be over for Detroit, which officially exits bankruptcy after midnight Wednesday and shrugs off the yoke of state receivership. "The reality is tomorrow's not any different than today," Mayor Mike Duggan said Wednesday during the announcement that Detroit was coming out of the largest municipal bankruptcy in U.S. history.

  • Enbridge settles Michigan class-action lawsuit Wednesday, 10 Dec 2014 | 8:01 AM ET

    BATTLE CREEK, Mich.— The Canadian company responsible for a 2010 oil spill in southwestern Michigan has agreed to pay about $6.8 million to settle a class-action lawsuit. A federal judge must still approve the settlement reached last week by Enbridge Inc., based in Calgary, Alberta. The company has agreed to pay about $2.2 million to residents and land owners of...

  • NEW YORK, Dec 9- East Cleveland will wait until after the first quarter of 2015 to decide whether to seek bankruptcy protection, the city's finance director said on Tuesday, noting such a filing is only one of several options under consideration. The assessment was less dire than comments last month by Ohio's state auditor, Dave Yost, who said the small suburb of its...

  • UPDATE 1-Detroit set to exit bankruptcy on Wednesday Tuesday, 9 Dec 2014 | 4:56 PM ET

    Dec 9- Detroit's odyssey through the biggest-ever U.S. municipal bankruptcy will end on Wednesday when the city's debt adjustment plan will take effect, Michigan Governor Rick Snyder's office said on Tuesday. In a letter, Snyder accepted Detroit Emergency Manager Kevyn Orr's declaration that the city's financial emergency is over and that it was time for his...

  • Detroit's financial emergency declared over Tuesday, 9 Dec 2014 | 4:33 PM ET

    DETROIT— Kevyn Orr has agreed to step down as Detroit's emergency manager, saying in a letter released Tuesday that the city will no longer be in a financial emergency once it exits bankruptcy. A hearing is scheduled Monday in federal court to determine Detroit's bankruptcy exit date. The bankruptcy's effective date is merely one step in Detroit's journey, Orr...

  • Dec 9- The United Auto Workers union said on Tuesday it will train workers at Volkswagen AG's plant in Chattanooga, Tennessee, in an effort to form a U.S. version of a German-style works council, while continuing to push for collective bargaining rights at the factory. Under a new agreement with the German company announced in November, unions that can prove...

  • Hyundai recalls nearly 43K cars for brake lights Tuesday, 9 Dec 2014 | 9:36 AM ET

    DETROIT— Hyundai is recalling nearly 43,000 luxury cars in the U.S. because the brake lights can fail to illuminate. Hyundai documents posted Tuesday by the National Highway Traffic Safety Administration say the agency contacted Hyundai about the problem in October after noticing consumer complaints. Hyundai expects to begin notifying owners early next...

  • Nissan is recalling the vehicles from model years 2012 through 2015 because fuel pressure sensors may not have been sufficiently tightened during production. A Nissan spokesman said there have been no reports of accidents or injuries related to the issue. Of the affected vehicles, about 233,000 are in Japan, 143,000 in North America, 22,500 in Europe, and...

  • Nissan recalls 470K vehicles for fuel leak problem Tuesday, 9 Dec 2014 | 8:31 AM ET

    DETROIT— Nissan is recalling about 470,000 cars and SUVs worldwide to fix a problem that can cause fuel leaks. That includes Nissan's Juke SUV from the 2012 through 2014 model years, and the Infiniti M56 and QX56 from 2012 and 2013. Also affected are Infiniti QX70 and QX80 SUVs from 2014 and 2015.. Other Nissan and Infiniti models are affected in Japan, North...

  • Cheaper real estate attracts art venue to Detroit Monday, 8 Dec 2014 | 7:01 PM ET

    DETROIT— High rental costs in New York City are pushing a Brooklyn performance center to Detroit. Galapagos Art Space Executive Director Robert Elmes wroteon the center's website that it's moving to old buildings in Detroit's Corktown neighborhood and in the Detroit enclave of Highland Park. Operators began looking at Detroit and Highland Park about 2 ½...

  • DETROIT, Dec 8- The United Auto Workers gained a partial and unconventional recognition from Volkswagen AG after proving to the company that it represents at least 45 percent of workers at the company's plant in Chattanooga, Tennessee, a company spokesman said on Monday. The union on Monday said membership at its Local 42 in Chattanooga "exceeds a majority of...

  • Walgreen tests virtual doctor visits through app Monday, 8 Dec 2014 | 3:11 PM ET

    Walgreen is testing a new telemedicine service that lets patients see a doctor without leaving home or visiting any of the drugstore chain's clinics. The Deerfield, Illinois, company said Monday that patients in California or Michigan can now contact a physician around the clock through Walgreen's mobile application for smartphones or tablet computers.

  • Dec 8- Medical device maker Stryker Corp will pay the U.S. government $80 million to settle criminal and civil charges that its OtisMed Corp subsidiary sold devices used in knee replacement surgery without approval from the U.S. Food and Drug Administration. The company sold more than 18,000 OtisKnee cutting guides- which are designed to help surgeons make...

  • Honda adds 2.6M vehicles to air bag repair list Monday, 8 Dec 2014 | 2:13 PM ET

    DETROIT— Honda plans to replace the replace driver's air bag inflators on 2.6 million more vehicles as it expands repairs to the entire U.S. Honda says it's doing so to address customer concerns. Honda and other automakers have limited recalls to high-humidity states mainly along the Gulf Coast.

  • Dec 8- Medical device maker Stryker Corp will pay the U.S. government $80 million to settle charges that its OtisMed Corp subsidiary sold devices used in knee replacement surgery without approval from the U.S. Food and Drug Administration. The company sold more than 18,000 OtisKnee cutting guides- which are designed to help surgeons make accurate bone cuts in...