Bush administration proposes new fuel efficiency rules
The plan targets an average 31.6 mpg across 2011 to 2015 with 35.7 mpg for passenger cars and 28.6 mpg for trucks by 2015. Major manufacturers face model specific targets with GM Ford and Toyota each needing mid thirties mpg on their 2015 car fleets. It aims to save about 55 billion gallons of oil and cut CO2 by 521 million metric tons while adding roughly 650 dollars per car and 979 dollars per truck in cost by 2015.
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Wall Street Journal editor resigns post
Interactive finance and sports brief collage reports editor change at the Wall Street Journal and reader engagement via Five on Five in RedEye. It also covers GM strike threats at five plants, Fifth Third Bancorp earnings drop, and Sherwin Williams first quarter profit decline.
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Travel Industry Braces for Rough Summer Amid Losses
The airline sector reels from United Airlines parent UAL Corp posting a 537 million first quarter loss, crude oil nears 120 a barrel, and Delta signals a 15 to 20 percent fare rise to break even. Analysts warn fuller planes, higher prices, and possible more cancellations. travel demand remains resilient despite fuel costs.
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Yahoo profits beat expectations despite takeover pressure
Yahoo Inc posted first quarter earnings of 542.2 million dollars 37 cents per share up from 142.4 million a year earlier due mainly to a 401 million dollar noncash gain from Alibaba.com stake. Revenue rose 9 percent to 1.82 billion dollars with advertising revenue slightly above estimates. outlook for the year was not raised, a point that could aid Microsoft in its bid.
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AK Steel tops estimates with 60 percent profit rise
AK Steel Holding Corp reports first quarter net income of 101.1 million or 90 cents a share, up from 62.7 million or 56 cents a share a year ago. CEO James Wainscott says shipments and profits should outpace rising raw material costs with a strong second quarter ahead.
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