Goodyear knew RV tire defects for two decades
Federal investigators say Goodyear knew that 275/70R22.5 G159 recreational vehicle tires could fail and cause crashes but did not recall them for up to 20 years. NHTSA alleges crashes from 1998 to 2009 killed eight and injured 69 as Goodyear agreed to recall about 173,000 tires sold for roads up to 65 mph.
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Stocks Rally As Yields Ease Amid Wobbly Wall Street
U S stocks rose as Treasury yields dipped easing fears while uncertainty lingered on rates inflation and the economy. The S P 500, Dow and Nasdaq gained with Apple Microsoft and energy names leading a rally as Target warned of lower margins and Walmart edged lower. The World Bank cut growth outlook citing Russia Ukraine war and potential stagflation risks.
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Target to cancel supplier orders and cut prices to clear inventory
Roundup AP: Target plans to cancel orders from suppliers especially home goods and clothing and push prices lower to clear ample inventory ahead of fall and holiday shopping. Profit in fiscal Q1 fell 52 percent year over year while the retailer still expects low to mid single digit revenue growth for the year. In other news central banks including Australia and the U S weigh tighter policy as markets brace for further rate hikes and inflation data. The Ohio Supreme Court declined to hear Andre Brady's appeal in a核 college bookstore layoff case from Youngstown State University.
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