Friday Midday Business Brief
October 26, 2012, 9:53 AM
- Stocks edged higher in today's early going, before fading, after the government reported a slight pickup in U.S. economic growth. Before today's opening bell, the key averages were down 0.7 to 1.8 percent for the week.
- The Commerce Department says the nation's economy expanded more rapidly in the July through September quarter. GDP is put at an annual rate of 2 percent, up from 1.3 percent in the second quarter.
- Federal safety regulators are investigating some older-model Ford Taurus and Mercury Sable sedans because the throttles can stick. The National Highway Traffic Safety Administration says it has 50 complaints about sticky throttles in the cars from the 2000 through 2003 model years.
- Toyota has widened its global sales lead over General Motors as its factories recovered from last year's Japanese earthquake. Toyota says it sold 7.4 million vehicles around the world through September, up 28 percent from a year earlier. That's 450,000 more than General Motors, which says it sold 6.95 million cars and trucks.
- Wisconsin truck maker Oshkosh is rejecting a buyout offer from billionaire investor Carl Icahn. Oshkosh says Icahn's offer of $32.50 a share undervalued the company and was not in the best interest of shareholders.
© 2012 Associated Press. All rights reserved. Material may not be redistributed.