Stocks edge higher as investors ponder deals
NEW YORK - Stocks closed slightly higher as investors considered news on corporate deals, including a bid by AT&T to acquire DirecTV and a venture between Johnson Controls and a Chinese firm that will form the world's largest maker of automotive interiors.
The S&P 500 rose 7.22 to close at 1,885.08. The Dow Jones industrial average added 20.55 to 16,511.86. The Nasdaq index rose 35.23 to finish at 4,125.82.
Big Swiss bank charged in US tax evasion probe
WASHINGTON - The Justice Department on Monday charged European bank Credit Suisse with helping wealthy Americans avoid paying taxes through offshore accounts.
The charge was filed in a criminal information, which is a charging document that can only be filed with a defendant's consent and typically signals a guilty plea. A person familiar with the matter said the bank has agreed to pay about $2.6 billion in penalties.
'Have it Your Way' days are over at Burger King
NEW YORK - Burger King is scrapping its 40-year-old "Have it Your Way" slogan in favor of the more personal "Be Your Way." The chain says the new tag line will roll out across its marketing, including in a TV ad Monday night.
Burger King says the new motto is intended to remind people that "they can and should live how they want anytime. It's OK to not be perfect."
Fernando Machado, Burger King's senior vice president of global brand management, said "Have It Your Way" focuses on the purchase. "Be Your Way" is about making a connection with a person's lifestyle, he said.
Machado noted that Burger King hasn't been actively using the "Have It Your Way" slogan for some time in the U.S.
Savannah port adding 24 cranes to up service
SAVANNAH - The Georgia Ports Authority will spend $86.5 million to add 24 cranes for moving cargo containers at the Port of Savannah.
Board members approved the purchase Monday. Curtis Foltz, executive director of Georgia's ports, said the cranes will let Savannah accommodate larger ships and provide faster service. They're expected to arrive in early 2016.
Georgia officials are pushing Washington to begin before the end of this year a $652 million expansion of the Savannah harbor that would make room for larger cargo ships. Savannah has the fourth-busiest U.S. container port and is one of the Port of Charleston's biggest competitors.
Kraft cottage cheese is recalled due to storage
NORTHFIELD, Ill. - Kraft Foods Group is recalling 1.2 million cottage cheese products, officials announced.
Some ingredients used in Knudsen Cottage Cheese, Breakstone's Cottage Cheese, Simply Kraft Cottage Cheese and Daily Chef Cottage Cheese were not stored in accordance with proper temperature standards at a Tulare, Calif., manufacturing facility, they said.
The failure to properly store ingredients could lead to premature spoilage and food-borne illness, Kraft said. The products have a coded date between May 9 and July 23 stamped on thecup bottoms or on top of the packages.
Anyone who purchased these products should not eat them. They can be returned to the stores where they were bought for exchanges or full refunds.
Southwest details new service from Dallas hub
DALLAS - Southwest Airlines plans to add two new international destinations this fall. Southwest will fly to Mexico City and Punta Cana, Dominican Republic, starting Nov. 2.
Southwest also said it began selling flights from Dallas to 15 distant U.S. cities including New York and Los Angeles. The flights start once restrictions on Dallas Love Field expire Oct. 13.
Southwest serves Charleston International Airport.
Hyundai to recall some Tucsons over air bags
DETROIT - Hyundai is recalling 137,500 Tucson SUVs because the air bags aren't correctly mounted to the steering wheel. The recall involves 2011-14 model years. Affected vehicles were built between Jan. 3, 2011, and Dec. 23, 2013.
Hyundai says the air-bag assembly can come loose from its mounting, increasing the risk of injury in a crash. It has no reports of injuries or accidents related to the issue. Dealers will repair the assembly for free starting next month. Hyundai will notify owners.