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Top News & Analysis Michigan

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  • The probe by the National Highway Traffic Safety Administration covers about 384,000 cars from the 2008 model year. The agency says in documents posted Friday that it received 19 consumer complaints that the air bag control computer failed in the Accord, which then was Honda's top-selling model. Honda said it is cooperating with the investigation and will...

  • Barclays must face U.S. class action over Libor Thursday, 20 Aug 2015 | 6:01 PM ET

    NEW YORK, Aug 20- Barclays Plc shareholders who accused the British bank in a lawsuit of inflating its stock price by manipulating the interest rate known as Libor may pursue their case as a class action, a U.S. judge ruled on Thursday. Shareholders led by Carpenters Pension Trust Fund of St. Louis and the St. Clair Shores Police& Fire Retirement System in Michigan...

  • Aug 20- Two U.S. senators on Thursday called on Japanese auto supplier Takata Corp to immediately recall all vehicles containing the company's air bags, a demand that could affect more than 50 million cars on U.S. roads. Senators Richard Blumenthal and Edward Markey, both Democrats, serve on a Senate panel that has been investigating problems with Takata air bags...

  • DETROIT, Aug 20- Republican presidential candidate Marco Rubio said on Thursday his plan to overhaul the U.S. tax code would help revitalize struggling manufacturing centers like Detroit, allowing companies to raise wages and workers to keep more of their paychecks. Speaking to the Detroit Economic Club, the senator from Florida said Detroit, which filed the...

  • Aug 20- Two U.S. senators on Thursday called on Japanese auto supplier Takata Corp to immediately recall all vehicles containing the company's air bags. Senators Richard Blumenthal and Edward Markey, both Democrats, serve on a Senate panel that has been investigating problems with Takata air bags that can rupture and spew metal shards at vehicle occupants.

  • WASHINGTON, Aug 20- U.S. home resales rose to a near 8-1/ 2- year high in July and factory activity in the mid-Atlantic region picked up this month, fresh signs of steady economic growth that likely keeps the Federal Reserve on track to raise interest rates this year. "We continue to expect both economic growth and labor market activity to continue shifting higher,...

  • All part of the ongoing collapse in industrial metal prices as the market collectively downgrades its views on China. Aluminum's prospects look particularly bleak given a backdrop of high legacy stocks and structural over capacity in China, which is pumping out ever more surplus metal into the international market in the form of semi-fabricated products.

  • Spartan Stores beats 2Q profit forecasts Wednesday, 19 Aug 2015 | 4:21 PM ET

    GRAND RAPIDS, Mich. _ Spartan Stores Inc. on Wednesday reported second-quarter net income of $20.3 million. Spartan Stores expects full-year earnings in the range of $1.89 to $1.98 per share. Spartan Stores shares have risen 25 percent since the beginning of the year.

  • Aug 19- Detroit's post-bankruptcy debut in the U.S. municipal bond market on Wednesday resulted in hefty yields for $245 million of bonds, signalling that investors remain skeptical of the city's recovery. The bonds earned an investment-grade A rating from Standard& Poor's largely based on a Michigan law that placed a specific statutory lien on Detroit...

  • All part of the ongoing collapse in industrial metal prices as the market collectively downgrades its views on China. Aluminium's prospects look particularly bleak given a backdrop of high legacy stocks and structural over capacity in China, which is pumping out ever more surplus metal into the international market in the form of semi-fabricated products.

  • LANSING, Mich.— Michigan legislators took a step Wednesday to help Detroit collect unpaid city income taxes from residents who work in the suburbs, a move linked to efforts to persuade Democrats from the city to back an elusive $1.2 billion road-funding plan. Legislation overwhelmingly approved by the Republican-led House Tax Policy Committee would require...

  • La-Z-Boy tops 1Q profit forecasts Tuesday, 18 Aug 2015 | 4:18 PM ET

    MONROE, Mich. _ La-Z-Boy Inc. on Tuesday reported fiscal first-quarter net income of $13.7 million. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 21 cents per share. La-Z-Boy shares have risen slightly more than 1 percent since the beginning of the year.

  • DETROIT, Aug 18- Most Buick vehicles sold in the United States after 2016 could be imported from China and Europe, according to two sources familiar with parent General Motors Co's plans. Production of the mid-size Regal sedan is likely to shift from Canada to either China or Europe in 2017, they added. Buick is also planning to add two new U.S. models from overseas...

  • DETROIT— A June collision between a Volkswagen SUV and a deer in which a side air bag inflated with too much force has triggered a federal investigation and raised questions about the safety of newer air bags made by Takata Corp. of Japan. In the June 7 crash near St. Louis, the left side air bag inflated in a 2015 VW Tiguan, blowing apart a metal canister.

  • Welcome to the Palo Alto home of the Ford Motor Co., six miles from the headquarters of Google. Meanwhile, in a squat, industrial building in suburban Detroit, a short drive from Ford's headquarters, workers are busy building a small fleet of driverless cars. We're educating both sides, "says Niall Berkerey, who runs the Detroit office of Telenav, a Sunnyvale,...

  • Ford recalling trucks to fix seat belt anchors Tuesday, 18 Aug 2015 | 10:18 AM ET

    DEARBORN, Mich.— Ford is recalling just over 26,000 trucks in the U.S. and Canada because some front seat belts may not be anchored in the right position. The recall covers F-650 and F-750 trucks from the 2011, 2013 and 2015 model years that were built in Mexico from Feb. 14, 2011, through April 28, 2015. Ford says the front passenger and center seat belts may not be...

  • DETROIT— The government is investigating reports of headlight failure in older Ford and Mercury sedans. The National Highway Traffic Safety Administration says Ford has received 3,092 complaints of headlight failure on Ford Crown Victoria and Mercury Grand Marquis sedans from the 2003-2005 model years. The government started investigating after...

  • Most ignition switch victims accepting GM offers Monday, 17 Aug 2015 | 2:22 PM ET

    DETROIT— Most victims of General Motors' faulty ignition switches have accepted compensation offers from the company. Victims and their families are being offered at least $1 million each. General Motors has set aside $625 million to compensate them.

  • DETROIT— A spokeswoman for the owner of Detroit's Packard Plant says photographers brought a tiger, bobcat and two wolves to the property without permission. Kari Smith says the animals were trucked in cages to the site Monday morning. The plant has long been a symbol of Detroit's decline.

  • JEFFERSON CITY, Mo.— While Congress remains stalled on a long-term plan for funding highways, state lawmakers and governors aren't waiting around. And legislators are returning to work this week in California and Michigan with transportation funding on the agenda. "I don't know of a state that's not having the conversation" about raising revenue for...