Nation & World
More data on dangerous air bags demanded
U.S. safety regulators are ordering Japanese auto supplier Takata Corp. to provide more information about air bags that can explode and shoot shrapnel toward drivers and passengers. Takata has until Dec. 1 to turn in the information or it could face fines of $7,000 per day. A Takata spokesman said the company is cooperating and will work to meet the agency’s requests.
Government suing Gerber
Federal regulators announced Thursday they were suing Gerber, the well-known baby food maker, for claiming that its Good Start Gentle formula can prevent or reduce allergies in children. That claim is bogus, and the company misled consumers by suggesting that its formula was the first to meet government approval for reducing the risk of allergies, the Federal Trade Commission alleged in a complaint filed in federal court.
Yellen pitches diversity among economists
Federal Reserve chairwoman Janet Yellen says she wants to raise awareness of the need for diversity among economists, with relatively few women and minorities still choosing to major in economics in college. Yellen, who is the first woman to head the central bank in its 100-year history, was speaking Thursday at a conference on diversity in the economics profession.
Wal-Mart mulls price-matching plan
Wal-Mart Stores Inc. is considering matching online prices from competitors like Amazon.com, raising the stakes for the holiday shopping season. The world’s largest retailer, based in Bentonville, Ark., has matched prices of local store competitors but has not followed other retailers including Best Buy and Target in matching prices of online rivals.
Apple CEO says he’s proud to be gay
Apple CEO Tim Cook says he’s proud to be gay. The public declaration, in an essay written for Bloomberg Businessweek, makes Cook the highest-profile business CEO to come out as gay. Cook said that while he never denied his sexuality, he never publicly acknowledged it, either. Cook wrote in the column, published Thursday, that it wasn’t an easy choice but he felt the acknowledgment could help others.
Safe zone created for onlinetransactions
A police department in suburban Philadelphia has created a “safe zone” for people to complete transactions they arranged online. The Conshohocken Police Department said individuals making purchases from other people through Craigslist and other online sites are free to complete the deals in the police department’s lobby or parking lot. Officials said they hope other departments nationwide do the same.
• The owner of a company that operates rolling chairs on the boardwalk in Atlantic City, N.J., has pleaded guilty to defrauding the IRS out of nearly $120,000.
• Mortgage company Freddie Mac said Thursday the nationwide average for a 30-year mortgage rose to 3.98 percent from 3.92 percent last week.
• The Bloomberg Consumer Comfort Index eased to 37.2 in the period ended Oct. 26 from 37.7 a week earlier.