Business News Headlines

Exclusive: U.S. safety chief raps GM's 'flawed' culture on recalls

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- The top U.S. auto safety regulator harshly criticized General Motors Co for not promptly reporting and recalling cars now linked to at least 19 deaths and said he has been meeting with top global automakers to develop a "new normal" for safety recalls.

Asian shares edge higher as investors await Fed

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TOKYO - Asian shares cautiously edged higher on Tuesday as investors awaited a U.S. Federal Reserve meeting beginning later in the session, as expectations of a more hawkish Fed stance on monetary policy underpinned the dollar.

8:32pm EDT

Alibaba boosts IPO as demand strengthens

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HONG KONG/NEW YORK - Alibaba Group Holding Ltd [IPO-BABA.N] raised the price range on its initial public offering to $66 to $68 on Monday, reflecting strong demand from investors for the year's most anticipated debut and potentially the world's largest-ever IPO. | Video

7:46pm EDT

Tesla prevails in top Massachusetts court over direct sales

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- Massachusetts' highest court on Monday threw out a lawsuit seeking to block Tesla Motors Inc from selling its luxury electric cars directly to consumers in the state, enabling it to bypass traditional dealerships.

GE exec says avoided geared design in jet engine battle with Pratt

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- General Electric Co avoided using a geared design for its new engine for narrowbody jets because of concerns about weight and reliability, said a top GE executive on Monday as it battles with rival Pratt & Whitney for billions of dollars in engine orders.

7:58pm EDT

Exclusive: Colombia may pre-finance 2015 borrowing needs - finance minister

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NEW YORK - Colombian Finance Minister Mauricio Cardenas said on Monday the government could start early to pre-finance some of its estimated $3 billion in 2015 borrowing needs by tapping international capital markets before year-end.

10:00pm EDT

GM to offer compensation for 19 deaths related to ignition switch

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WASHINGTON - General Motors Co will pay compensation for 19 deaths linked to a faulty ignition switch, according to the lawyer overseeing the compensation process, more than the 13 deaths the automaker had previously admitted were caused by the now recalled part.

2:37pm EDT

After standoff, Vale and China's Cosco both claim shipping victory

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RIO DE JANEIRO/SHANGHAI - In the end, the answer to Brazilian miner Vale's Chinese shipping problem turned out to be in the problem itself.

Deals, Brazil 8:17pm EDT

Exclusive: Toyota pauses on Mexico expansion to review growth strategy

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BEIJING/NAGOYA Japan - Toyota Motor Corp is reconsidering a move to open a new compact car assembly plant in Mexico after company President Akio Toyoda told planners searching for a site to pause and review its rationale, executives familiar with the matter said.

5:06pm EDT

Microsoft to buy Minecraft maker Mojang for $2.5 billion

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STOCKHOLM/SEATTLE - Microsoft Corp has agreed to acquire the Stockholm-based developer of the wildly popular Minecraft video game for $2.5 billion, as it tries to lure a new and mostly young audience into its mobile world.

Tech, Deals, Media 1:03pm EDT
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Key retirements mean a changing of the guard next year in U.S. Congress

Regardless what voters decide in the November elections, there will be a major changing of the guard next year in the U.S. Congress as result of a number of key retirements.