Feds to probe cause of runaway Prius in
California EL CAJON, Calif. (AP) -- A The James Sikes, 61, of Jacumba, told
authorities that the accelerator malfunctioned Monday as he drove his Prius on
Interstate 8 in San Diego County. The car reached 94 mph during the 20 minutes
before a California Highway Patrol officer helped get the Prius driver to slow
down and turn off the engine. Job openings up sharply in January to
2.7M WASHINGTON (AP) -- Job openings rose
sharply earlier this year, evidence that employers are slowly ramping up hiring
as the economy improves. The number of openings in January rose
about 7.6 percent, to 2.7 million, compared with December, the Labor Department
said. That's the highest total since February 2009. The report is a sign that the economy
is soon likely to generate consistent job gains. Some economists expect
employers to add up to a net 300,000 jobs in March, though as many as a third
of them could be temporary hiring for the 2010 Census. Stock investors ask: What's the next
big thing? NEW YORK (AP) -- A year after the stock
market began its comeback from 12-year lows, investors are looking for the next
big thing. Stocks have lost some of the momentum
that propelled the Dow Jones industrial average up 61.4 percent from its close
of 6,547 on March 9, 2009. That's natural -- bull markets tend to slow down as
they head into their second year. But the lethargic pace of the economic
recovery has also been a bit of a drag on stocks. And so investors are waiting
for signs that the economy is ready to put up some solid, sustainable growth
numbers. The Dow on Tuesday rose 11.86, or 0.1
percent, to 10,564.38. The Dow remains 25 percent below its peak of 14,164.53,
reached in October 2007. Class-action lawsuits could cost MIAMI (AP) -- Those estimates do not include
potential payouts for wrongful death and injury lawsuits, which could reach in
the tens of millions each. Still, the sheer volume of cases involving U.S. The job cuts represent almost 12
percent of its 17,000 workers in the so-called downstream part of its business
and just over 3 percent of its overall work force. Executives of the second-largest U.S.
oil producer are still deciding where and when they will eliminate the jobs as
they try to complete the restructuring by the third quarter, company spokesman
Lloyd Avram said. Additional cuts are expected next year. Kroger 4Q profit falls 27 percent;
margins shrink CINCINNATI (AP) -- The Kroger Co. is
sacrificing some profits to court financially strapped shoppers who are buying
more groceries at lower prices, counting on them to keep coming back when
better economic days finally arrive. The nation's largest traditional
grocery chain Tuesday reported earnings fell 27 percent in its fourth quarter,
while sales rose 7 percent with help from gasoline sales that were boosted by
discount incentives for regular customers. Kroger reported fourth-quarter profit
of $255.4 million, or 39 cents per share, down from $349.2 million or 53 cents,
a year ago. Sales were $18.6 billion. Analysts surveyed by Thomson Reuters
expected 34 cents per share on $17.73 billion of revenue. EU urges US to join in action against
speculators BRUSSELS (AP) -- European officials
urged the U.S. to join in a crackdown on speculators who bet against Europe's
currency union, warning they might ban some credit default swaps -- opaque
financial instruments blamed for worsening the world financial crisis. German Chancellor Angela Merkel said
Tuesday that "quick action is needed," calling on the U.S. to
"make a gesture" and curb the trades. Greek Prime Minister George
Papandreou, in Washington, DC to meet with President The Oil settles lower, ending brief rally NEW YORK (AP) -- Oil prices trimmed
some early losses, but still ended lower Tuesday, after rising steadily since
the end of last week. Benchmark crude for April delivery lost
38 cents to settle at $81.49 per barrel on the New York Mercantile Exchange.
Earlier, oil dropped as low as $80.16. Tradition Energy analyst Addison
Armstrong said the dollar strengthened against the euro ahead of talks between
President Jobless aid measure clears Senate
hurdle WASHINGTON (AP) -- Legislation to give
additional months of unemployment benefits to people who have been out of a job
for more than half a year cleared a key hurdle Tuesday that guarantees it will
soon pass the Senate. The sweeping bill also would prevent
doctors from absorbing a crippling cut in Medicare payments and extends health
insurance subsidies for the unemployed through December. It would add $132
billion to the budget deficit over the next year and a half. Eight Republicans voted with Democrats
to defeat a GOP filibuster of the measure, setting up a final vote on
Wednesday. Abbott paying $450 million for Facet
Biotech NEW YORK (AP) -- Abbott Laboratories
says it will buy Facet Biotech for about $450 million in cash, expanding the
company's access to biotechnology drugs, including a potential treatment for
multiple sclerosis. Facet and its partner Biogen Idec plan
to move the potential multiple sclerosis drug daclizumab into late-stage
development in the second quarter. The company also has potential cancer
treatments in various stages of development with other partners. Abbott will pay $27 per share, marking
a 67 percent premium to Facet's closing price of $16.21 Tuesday. Both boards of
directors have already approved the deal, which is expected to close in the
second quarter. By The Associated Press The Dow rose 11.86, or 0.1 percent, to
10,564.38. Benchmark crude for April delivery lost
38 cents to settle at $81.49 per barrel on the New York Mercantile Exchange. In other Nymex trading, heating oil
fell 1.57 cents to settle at $2.0898 a gallon, and gasoline dropped 2.89 cents
to settle at $2.2603 a gallon. Natural gas lost 1.1 cents to settle at $4.516
per 1,000 cubic feet. In London, Brent crude was down 56
cents to settle at $79.91 on the ICE futures exchange.