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Wednesday Afternoon Business Brief

March 26, 2014, 1:24 PM

Wednesday Afternoon Business Brief

Stocks have given up early gains and turned lower in early afternoon trading on Wall Street. The maker of the hit game "Candy Crush Saga" flopped in its market debut and Facebook slumped after announcing its acquisition of virtual reality company Oculus.

  • Nissan is recalling almost 990,000 cars, SUVs and minivans in the U.S. because the front passenger air bags may not inflate in a crash. The company tells the National Highway Traffic Safety Administration that the vehicles' computer software may not detect an adult in the passenger seat. If that happens, the air bags won't inflate. The recall affects the Altima, Leaf, Pathfinder and Sentra models from the 2013 and 2014 model years, as well as the NV200 Taxi van and Infiniti JX35 SUV from 2013. Also covered is the Infiniti QX50 SUV from 2014.
  • General Motors CEO Mary Barra is spending time in the automaker's call center listening to customer complaints. GM says the new CEO spent about a half hour last Thursday wearing a headset at the suburban Detroit center and will return there periodically. The company posted five videos of Barra on its website today as it tries to counter bad press from a massive recall of 1.6 million cars over faulty ignition switches. The problem has been linked to at least 12 deaths.
  • An expert sea pilot tells federal safety officials he is concerned that cruise operators rely too much on electronics to navigate massive ships. He says captains handling ships with advanced navigation equipment may not be as adept at manually handling the massive ships as they should be. Capt. Jorge Viso with the Tampa Bay Pilots testified before the National Transportation Safety Board today.
  • The head of the Internal Revenue Service is telling a House panel it could take his agency years to produce documents subpoenaed in its probe of how the agency scrutinized tea party groups' applications for tax-exempt status. The House Government Oversight and Reform Committee is seeking thousands of IRS and White House communications and other documents. Its chairman, California Republican Darrell Issa, says the IRS is more interested in containing political damage than cooperating with lawmakers.

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