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.”
Digital music sales at Apple iTunes store have fallen 13% to 14% world-wide since the start of the year, according to people familiar with the matter, underscoring the fragility of the music industry’s nascent recovery.
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.
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.