USA:The explosion of auto lending may be starting to hit the skids.
A top banking regulator warned that the $1 trillion car loan industry has gotten more dangerous. The Office of the Comptroller of the Currency cited “unprecedented” growth in auto loans, rising delinquencies and shrinking used car values. The banking watchdog also pointed to cutthroat competition among banks, which has... Read more
USA :Whole Foods gets warning letter from FDA
The Food and Drug Administration sent a warning letter to Whole Foods co-CEOs John Mackey and Walter Robb about what the FDA called “serious violations” it found after inspecting a Whole Foods food preparation facility in Everett, MA, in February. The FDA said in the letter — dated June... Read more
Toyota Expands Takata Airbag Recall in U.S.
HONG KONG — Toyota is recalling more than 1.5 million additional vehicles in the United States over concerns with airbag inflaters from the Japanese parts manufacturer Takata. The announcement late Monday came after the National Highway Traffic Safety Administration accelerated moves to recall vehicles fitted with the potentially dangerous... Read more
U.S. Extends Overtime Pay to 4.2M Salaried Workers
The Obama administration on Tuesday unveiled the final version of a long-awaited and controversial rule to extend overtime pay to 4.2 million U.S. workers, which marks one of the administration’s most significant moves to address stagnant wages. The rule, which has drawn intense criticism from business groups and Republicans, doubles the... Read more
Mitsubishi Motors says mileage cheating may be on all models
TOKYO (AP) — Mitsubishi Motors Corp., the Japanese automaker under investigation for lying about fuel economy data for some models, said Wednesday such tampering is suspected in all of its vehicles sold in Japan. The company has said it carried out false tests and gave inflated mileage on minicars... Read more
N-Gas Gives Govt Ultimatum: Pay $100m Debt In 2 Weeks Or . . .
N-Gas, the main supplier of lean gas to Ghana’s Volta River Authority (VRA) through the West African Gas Pipeline Company (WAPCo), has given Ghana a two-week ultimatum to clear its outstanding debt of over $100 million or gas supply will be shut down. The two-week deadline expires this week.... Read more
Australian:Essay: a sober, responsible budget, but negative gearing a blind spot
Scott Morrison is very keen for his first budget to be viewed as “not just another budget” – to the point of saying so not once, but twice, in the first three lines of his budget speech. Rather, it’s a “plan” – a word he used 29 times in... Read more
Uber and Lyft Are Leaving Austin After Losing Background Check Vote
Uber and Lyft both announced that they will depart Austin, Tex. after the city voted against a proposition that would have allowed ride-sharing companies to use their own background check systems. The Texas city will require fingerprint background checks in the future. The two companies spent more than $8... Read more
Podcasters Say Apple Is Failing Them
Podcasters are reportedly getting very frustrated with Apple—the company that made their growing industry possible. Apple founder Steve Jobs launched the idea of the podcast, which is a long-form digital audio show, in 2005, and the format was integrated into iTunes. Podcasts experienced slow growth, but finally exploded in... Read more