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U.S. stocks crept higher after news that the economy surged ahead in the spring. Trading was quiet as investors waited for a statement from the Federal Reserve later Wednesday. Most world markets were mixed.
Toyota remains No. 1 in global vehicles sales after the first six months of this year, followed by Volkswagen which bumped General Motors out of second place as the U.S. automaker grapples with a recall scandal.
The four-door Mini Cooper Countryman was the only one of 12 cars to earn a top rating of “good” in new frontal crash tests performed by the Insurance Institute for Highway Safety.
The world’s largest online retailer is facing off in India against a new name in e-commerce that was founded by former Amazon employees. Amazon.com Inc. said Wednesday it will invest $2 billion to expand its Indian business, a day after local rival Flipkart raised $1 billion to fund its own expansion.
Hyundai is recalling its popular Sonata midsize sedan to fix problems with the gear shift levers. The recall covers 883,000 cars from the 2011 through 2014 model years.
Suzuki is recalling nearly 26,000 midsize cars in the U.S. because the daytime running light modules can overheat and could cause a fire.
The stock market closed with a modest loss Tuesday as investors wait for a series of big economic reports later in the week.
Energy company BP has warned that further international sanctions on Russia could have an adverse impact on its profits because of its stake in the oil giant, Rosneft.
UPS lowered its outlook for the year as it announced plans to spend more on technology and other enhancements to improve service during peak season.
China’s anti-monopoly agency has announced an investigation of Microsoft Corp., stepping up pressure on foreign technology companies.
Ford is raising the price of its new aluminum-sided pickup truck, but still trying to stay competitive with rivals. The F-150 goes on sale later this year.
Motorola Mobility’s 1.2 million-square-foot former headquarters in Libertyville has been sold for $9.5 million. Beco Management said it will spend $50 million to turn the five-building, 84-acre complex into Innovation Park, Chicago-Libertyville.
Lloyds Banking Group says it will pay $400 million to U.S. and British authorities to settle allegations it manipulated benchmark interest rates.
Dollar Tree is buying rival discount store Family Dollar in a cash-and-stock deal valued at about $8.5 billion.
Samsung Electronics Co. said Monday it is delaying sales of its first Tizen-powered smartphone in the latest setback to the company’s ambition to create a mobile platform to rival Google’s Android or Apple’s iOS.