Chrysler and honda plan sizable recalls
By Times Wires
Published September 15, 2007
Chrysler LLC said Friday it would recall nearly 300,000 sport utility vehicles to address potential braking problems while driving uphill. In a separate move, Honda Motor Co. said it was recalling more than 180,000 Civics from the 2006-2007 model year to fix a wheel-bearing seal that could leak and lead to a wheel falling off the car. The Chrysler recall involves more than 156,000 Jeep Grand Cherokees and Commander SUVs from the 2006-2007 model years, more than 90,000 2007 Jeep Wrangler SUVs and nearly 50,000 2007 Dodge Nitro SUVs. Owners will be notified by mail.
Raymond James portfolio grows
A North Carolina business that supplies products to law enforcement agencies is the latest addition to the private equity investment portfolio of Raymond James Capital Inc. The subsidiary of St. Petersburg-based Raymond James Financial Inc. said it has agreements to acquire Sirchie Finger Print Laboratories of Youngsville, N.C., and several related companies. The deal includes 13-million shares of the publicly-traded Law Enforcement Associates Corp. Terms were not disclosed.
Pressure to lower interest building
Consumers kept spending in August and factories kept producing, but the gains were weaker than expected as financial market turbulence and a slumping housing market continued to weigh on the economy. Analysts said the new economic reports released Friday give the Federal Reserve more reasons to cut a key interest rate when policymakers meet next week. The Commerce Department said retail sales increased 0.3 percent in August with the strength led by a 2.8 percent jump in auto sale.
Chipmakers face new investigation
The U.S. Justice Department started a criminal investigation of makers of the flash memory chips that go into cameras and music players, broadening its crackdown on possible price fixing in the semiconductor business. Samsung Electronics Co., the world's second-largest chipmaker, and Toshiba Corp., Japan's biggest maker of semiconductors, said Friday they are cooperating with the probe. The companies are the world's two biggest makers of flash memory chips.
Yahoo acquiring BuzzTracker
Yahoo! Inc., trying to attract visitors and advertisers to its online news pages, purchased BuzzTracker, a site that ranks stories based on popularity among bloggers. BuzzTracker ranks more than 1,000 different topics on more than 90,000 blogs, showing the most read and discussed stories of the day, according to its Web site.
TD Ameritrade files are hacked
Online brokerage TD Ameritrade Holding Corp. said Friday one of its databases was hacked and contact information for its more than 6.3-million customers was stolen. A spokeswoman said more sensitive information in the same database, including Social Security numbers and account numbers, did not appear to have been taken.