Dodges recalled over sticky gas pedals
WASHINGTON -- Chrysler is recalling nearly 35,000 Dodge Calibers in the United States and around the world to fix a potential problem with sticky gas pedals, the same issue that has affected millions of Toyotas.
Chrysler Group said it will recall about 25,000 Calibers in the United States from the 2007 model year and a limited number of 2007 Jeep Compass SUVs to inspect vehicles built between March and May of 2006. The remaining vehicles are in Mexico, Canada and elsewhere.
The pedals were made by CTS Corp., the company that manufactured pedals involved in the recall of more than 2 million Toyotas earlier this year.
Dollar hits 4-year high against euro
NEW YORK -- The dollar surged to its highest level against the euro in more than four years Friday as a report showed hiring in the United States remains weak, while a Hungarian official's warning about the state of his country's economy deepened anxiety over Europe's debt crisis.
The euro sank as low as $1.1956, its weakest level since it bought $1.1920 in March 2006 and well below the $1.2182 it bought in New York late Thursday.
Oil, gasoline prices down for week
NEW YORK -- Oil prices fell for the week and so did the cost of gasoline at the pump. Natural gas prices, beaten down for much of the year, gained almost 13 percent since Tuesday as investors pulled money out of oil.
After declining all week, retail gasoline prices rose Friday for the first time in nearly a month. Prices at the pump rose a penny to a national average of $2.726 per gallon, according to AAA, Wright Express and Oil Price Information Service. Prices have fallen 2.3 cents in the past week and 19.3 cents in the past month. They are 15.4 cents above last year's level.
Microsoft to halt Bing rebate offers
REDMOND, Wash. -- Microsoft is shutting down a program that gave online shoppers rebates when they found items through Bing search. The cash-back program started in May 2008. Microsoft was hoping it would help lure more people to its search engine.
But despite its efforts, Microsoft remains a distant third in search behind Google and Yahoo. Having a bigger audience is appealing to advertisers, and Google's dominance in search has been extremely lucrative for that company.
Microsoft said in a blog post that the cash-back program didn't attract as many people as it had hoped. Cash-back offers will end July 30.
FDIC shuts down small Miss. lender
WASHINGTON -- Regulators on Friday shut down a small bank in Mississippi, boosting the number of U.S. bank failures this year to 79.
The Federal Deposit Insurance Corp. took over First National Bank, based in Rosedale, Miss., with $60.4 million in assets. Jefferson Bank of Fayette, Miss., agreed to acquire the assets and deposits of the bank.
In addition, the FDIC and Jefferson Bank agreed to share losses on $43.5 million of First National Bank's loans and other assets. The failure is expected to cost the deposit insurance fund $12.6 million.