GM settles hundreds of ignition switch lawsuits
NEW YORK General Motors Co has agreed to settle federal lawsuits by as many as 203 plaintiffs over defective ignition switches in its vehicles, a Friday court filing shows.
WASHINGTON The White House projects that the economy will grow about 2 percent this year if the across-the-board automatic spending cuts remain in place, Alan Krueger, chairman of the White House Council of Economic Advisers, said on Wednesday.
The White House had originally projected 2.6 percent growth in GDP, assuming the cuts would be averted, Krueger said in a briefing on the budget, noting overall economic growth in 2013 is forecast to remain similar to 2012.
(Reporting by Roberta Rampton; Editing by Sandra Maler)
Debt-laden U.S. outerwear and outdoor gear retailer Eddie Bauer LLC has hired investment banks to explore strategic alternatives, including a potential sale of the company, people familiar with the matter said on Friday.