The Toyota Corolla, an aging, stodgy but reliable economy car, is getting a radical new look. The world's largest automaker was rolling out a new version of the compact Thursday night at a splashy event in Santa Monica, Calif., hoping to shed the old version's low-cost image and attract new, younger buyers to its brand.
Republican mega-donor Harold Simmons' remote hazardous waste dump in West Texas began accepting low-level radioactive material Thursday from a federal lab in New Mexico — the latest step in Simmons' vision of a site that accepts all types of waste.
A majority on a Food and Drug Administration advisory panel voted Thursday to modify or remove measures that currently limit patient access to GlaxoSmithKline's Avandia. Among those requirements, patients must sign a waiver before getting a prescription that they understand the drug's risks.
New York's economy grew at a slower pace than the national rate in 2012, ranking 37th among all states, according to a federal report released Thursday. The state's economic growth rate was 1.3 percent compared with the national rate of 2.5 percent, according to a U.S. Department of Commerce report released Thursday that is based on gross domestic product.
IKEA is recalling its "LYDA" jumbo coffee and tea cups due a burn hazard. The Consumer Product Safety Commission said Thursday that the cups can break when hot liquid is poured into them. No injuries have been reported in the U.S., but 20 incidents have been reported worldwide, including 10 scalding injuries.
The accused in a chocolate price-fixing case could face a bitter fate if convicted — millions of dollars in fines for the companies and potential jail time for the individuals.Canada's Competition Bureau said Thursday it is laying criminal charges against Nestle SA's Canada arm, Mars Inc.'s Canada division and ITWAL Ltd., a network of independent wholesale distributors.
Activist investor Carl Icahn and Southeastern Asset Management Inc. are formally urging Dell shareholders to reject a buyout offer from the struggling PC maker's founder and investment firm Silver Lake Partners. Dell Inc. has agreed to sell itself to founder and CEO Michael Dell and Silver Lake for $24.4 billion, or $13.65 per share.
The Florida agency in charge of job creation on Wednesday accused the U.S. Department of Labor of conducting a politicized investigation against it. An attorney for the Florida Department of Economic Opportunity sent a letter to federal lawmakers and the federal Department of Labor's Inspector General, asking for an inquiry of the federal agency's probe of the state agency.
The company said it will consider options for its HealthTronics urology business and for its branded drug development platform. It also plans to eliminate about 15 percent of its staff positions and reduce annual spending by about $325 million.
The attorney general's office has sued the company for advertising its Eclipse cigarettes as a "risk reduction" product. Judge Dennis Pearson ruled in March 2010 that R.J. Reynolds Tobacco Co. had violated consumer protection law and another order by not having adequate scientific studies to back up its advertising claims.
Many Chinese-Americans hope that the high-level visit of the Chinese leader to meet with Obama on Friday and Saturday at the secluded Sunnylands estate in the desert near Palm Springs will enhance rapport between the two men and pave the way for closer ties between the two nations.
General Motors says it will offer free oil changes, tire rotations and inspections for two years on most of its 2014 models in an effort to boost customer loyalty. The company announced the offer at its annual stockholders meeting in Detroit on Thursday.
Beef tenderized by machines before it is sold in grocery stores could soon carry labels warning customers to cook the meat thoroughly. The Agriculture Department is proposing to require the new labels and cooking instructions for the meat, which is poked with needles or blades to increase tenderness.
Three-quarters of the economists say stocks, which are at their lowest point in a month but are up 19 percent since November, aren't overvalued. Many point to strong corporate profits as justifying the surge in stock prices, which have more than doubled since bottoming in 2009.
The Manufacturers Alliance for Productivity and Innovation (MAPI) Quarterly Economic Forecast predicts that inflation-adjusted gross domestic product (GDP) will expand 1.8 percent in 2013 and 2.8 percent in 2014, showing no change from MAPI’s February 2013 report.
An influential Democratic senator is calling for the Obama administration to consider suspending Bangladesh's duty-free privileges unless it takes significant action to improve labor conditions following the global garment industry's worst accident.
In the latest sign that Americans are feeling better about the job market and overall economy, stores across the country had a pickup in revenue in May. According to a preliminary tally of 12 retailers by the International Council of Shopping Centers, released Thursday, revenue at stores open at least a year rose 3.2 percent in May from last year.
Procter & Gamble has reorganized its business into four new divisions, the first big change at the world's largest consumer products maker since A.G. Lafley returned as CEO nearly two weeks ago.Each of the four divisions will be headed by a group president, expanding the responsibilities for four current executives.
The number of Americans seeking unemployment benefits fell 11,000 last week to a seasonally adjusted 346,000, a level consistent with steady job growth. The Labor Department says applications dropped from 357,000, which was revised up from an initially reported 354,000. The less volatile four-week average rose 4,500 to 352,500.
Gascon and Schneiderman said they plan to meet with representatives from Apple Inc., Google Inc., Samsung Electronics Co. Ltd. and Microsoft Corp. and urge them to create new technology to permanently and quickly disable stolen smartphones, making them worthless to thieves.