Automobile industry
FLAT ROCK, Mich. — Ford is adding 1,200 workers to a suburban Detroit factory to build the Fusion, a sign of confidence that the revamped sedan will be a big hit when it goes on sale this fall.
The Fusion is already Ford’s best-selling vehicle after the F-Series pickup. Ford hopes to grab even more buyers with the 2013 Fusion, which has improved fuel economy and a sharper, more chiseled design.
CREDIT CARDS
Federal Reserve says credit card use down
Americans cut back on their credit card use in July for the second straight month, suggesting many remain cautious in the face of high unemployment and slow growth.
The Federal Reserve says total borrowing dipped $3.3 billion in July from June to a seasonally adjusted $2.705 trillion. A drop in credit card debt offset a small rise in a measure of auto and student loans.
ENVIRONMENT
U.N. panel urges more green ’climate credits’
BERLIN — A U.N.-appointed expert panel says international efforts to boost investment in green technologies could collapse if countries don’t boost the market for ’climate credits.’
The United Nations Framework Convention on Climate Change says governments need to restore investors’ faith in so-called carbon markets, including the U.N.’s Clean Development Mechanism.
The CDM allows developing countries to earn credits from measures to reduce greenhouse-gas emissions. They can then sell the credits to rich nations seeking to meet emissions-reduction targets.
TECHNOLOGY
Toys ’R’ Us to offer own tablet computer
WAYNE, N.J. — Toys ’R’ Us said Monday that it plans to launch its own tablet computer aimed at children called Tabeo on Oct. 21, a low-priced entry into the increasingly crowded tablet business.
The news comes ahead of the Christmas season, which can account for up to 40 percent of retailers’ annual sales. Toys ’R’ Us has focused on exclusive toys rather than discounts as it faces tough competition from online retailers like Amazon.com and discounters like Wal-Mart Stores Inc.
Social Media
Facebook co-founder sells $108M in stock
NEW YORK | Facebook co-founder Dustin Moskovitz has sold 5.7 million shares of the company’s stock, a small fraction of his total holdings.
He sold the shares on Wednesday, Thursday and Friday for proceeds of more than $108 million.
Mr. Moskovitz, 28, was Mark Zuckerberg’s Harvard roommate when they founded Facebook in 2004.
SMARTPHONES
T-Mobile adds iPhone plans ahead of launch
NEW YORK | T-Mobile USA, the only “Big 4” phone company that doesn’t sell the iPhone, now wants to snag used ones from AT&T. Starting Wednesday, when Apple is expected to reveal a new iPhone model, T-Mobile will start advertising that AT&T iPhone owners who are out of contract can switch to T-Mobile.
ENERGY
Transocean, feds weighing possible $1.5B settlement
NEW ORLEANS — Transocean Ltd. and the U.S. Justice Department have discussed a $1.5 billion settlement that would resolve federal civil and criminal claims against the company over its role in a deadly 2010 rig explosion that spawned the nation’s worst offshore oil spill.
But Switzerland-based Transocean said in a regulatory filing Monday that several issues, including the possible time period for payment, must be resolved before a deal can be completed.
• From wire dispatches and staff reports.
Please read our comment policy before commenting.