U.S. to Name New Auto-Safety Chief

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The Obama administration is close to naming a permanent top auto-safety regulator amid criticism of the agency’s handling of large air-bag recall, which an administration official on Friday called “suboptimal.”

Toyota Confirms Sale of Part of Tesla Stake

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Toyota said Friday it has sold some of its stake in Tesla Motors, days after German luxury car maker Daimler disclosed it had divested its Tesla shares for a sizable gain.

AT&T Risks Losing Prized Wireless Customers

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AT&T is enjoying its lowest-ever “churn” rate, but is also facing an uncomfortable situation: up to 10 million of its most lucrative wireless customers may be free to walk out the door.

P&G to Shed Duracell

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P&G said it plans to exit its Duracell business, with plans to carve off the leading battery brand with $2 billion in global sales into a separate company. The plan was announced as P&G reported flat sales and a 34% profit drop for its fiscal first quarter.

Chiquita Ends Banana Deal

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Chiquita has terminated its deal with Irish food company Fyffes and said it instead plans to enter negotiations with Cutrale-Safra, the coalition between a Brazilian orange juice maker and an investment firm.

Ford's Profit Falls 34%

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Ford said third-quarter income fell 34% from a year ago to $835 million as lower truck production and higher warranty and recall costs hurt results in its core North American operations and losses in Europe widened.

UPS Growth Fueled by Increase in Shipments in U.S. and Abroad

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United Parcel Service Inc. reported robust third-quarter growth, fueled by an increase in package shipments both in the U.S. and abroad and the strongest increase in domestic business-to-business deliveries in several years, signaling a strengthening U.S. economy.

Indonesia Plays Legal Hardball

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Indonesian prosecutors are increasingly bringing criminal charges against employees of large companies for allegedly causing losses to the state, a development that is chilling the business community there.

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