February Jobs Report Signals Solid Economy Ahead
U S employers added 235 000 jobs in February with unemployment at 4 7 percent. Widespread earnings gains and construction gains help the labor market absorb new entrants while weather effects may be temporary. Fed rate hikes look likely as the economy remains broadly healthy.
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California moves toward driverless cars on public roads
California proposes detailed rules to allow fully driverless vehicles with no steering wheel or pedals to be tested on streets by year end and offered to customers as early as 2018 pending federal approval. Regulators say the framework balances safety and innovation amid swift tech and auto industry advances.
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VW to pay 4.3 billion in diesel emissions case
VW agreed to 4.3 billion in criminal and civil penalties after pleading guilty to obstruction of justice and conspiracy over programming nearly 600,000 vehicles to defeat EPA tests. Sentencing set for April 21 in Detroit. cooperation reduced potential fines from 17 to 34 billion.
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Caterpillar denies tax missteps after IRS raids
Caterpillar says it did not break federal tax laws in response to IRS challenges over 2007 to 2012 taxes. The company cooperated with information requests and stands by its financial reporting while noting possible links to a Swiss business. The IRS claims $2 billion in additional taxes for 2010 to 2012 and a Times report questioned compliance.
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