Nation & World
Ford: New F-150s to get better mileagee
Ford said its aluminum-bodied F-150 pickup will get as much as 29 percent better fuel economy than its mostly steel predecessor as the automaker gambles with a new design for its top-selling and most profitable model. When equipped with a 2.7-liter EcoBoost engine, the truck has an estimated fuel economy of 26 miles per gallon on the highway and 19 in the city, said Raj Nair, Ford’s product- development chief. The company has started shipping the trucks to dealers.
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Dems go after New York Fed chief
The head of the New York Federal Reserve was put on the defensive by Senate Democrats, who accused the Fed of being too close to the big banks it is charged with regulating. William Dudley, president of the New York Fed, insisted at a Senate hearing Friday that “our eyes are open” and regulators are fair, unbiased and rigorous in their oversight of the biggest U.S. banks. A 2009 report found that the New York Fed’s culture stifled dissenting views among its bank supervisors.
423.000 Lexuses to be recalled for fire danger
Toyota is recalling nearly 423,000 Lexus luxury brand cars in the U.S. to fix fuel leaks that can cause fires. The recalls affect the 2006 to 2011 GS, 2007 to 2010 LS and the 2006 to 2011 IS models. Toyota says it’s not aware of any fires or injuries caused by the problem. Dealers will repair the gasket seating surface at no cost to owners.
Another record close for the Dow
U.S. stocks capped a week that already had several record highs by delivering a couple more. The Dow Jones industrial average gained 91.06 points, or 0.5 percent, to 17,810.06. That’s up from its last record close of 17,719 on Thursday. the S&P 500 index rose 10.75 points, or 0.5 percent, to 2,063.50. That’s just above the index’s previous high close a day before at 2,052.75. The Nasdaq composite added 11.10 points, or 0.2 percent, to 4,712.97.
Japan turns up heat on air bag supplier
Japan on Friday stepped up pressure on air bag supplier Takata over safety problems that have been linked to at least five deaths outside the country. In a break from Japanese regulators’ standard practice in dealing with automobile defects, the Transport Ministry said it had directly ordered Takata to carry out a thorough investigation and to provide the government with more information.
Recovered data may deal with IRS-Tea Party furor
Federal investigators have told Congress that they have recovered data that may include lost emails from one of the pivotal figures in the controversy over the IRS’s treatment of Tea Party groups, congressional aides said Friday. Frederick Hill, spokesman for Republicans who run the House Oversight and Government Reform Committee, said the investigators told congressional staff at a briefing Friday that they have recovered up to 30,000 emails to and from Lois Lerner.
Apple antitrust settlement OK’d
A federal judge on Friday approved a settlement in which Apple could begin paying $400 million to as many as 23 million consumers related to charges that it violated antitrust law by conspiring with publishers to raise e-book prices and thwart efforts by Amazon. An Apple spokeswoman declined to comment on the settlement Friday.
Bloomberg News, The Associated Press and New York Times contributed.