Congress to investigate GM recall

CNNMoney: Did General Motors and industry regulators fail to detect safety problems that have been linked to 13 deaths? The House Energy and Commerce Committee is looking into whether GM and the National Highway Traffic and Safety Administration responded appropriately to customer complaints, and will hold a hearing in coming weeks, according to a statement.

 

Super rich fueling the market for supercars

Bloomberg Businessweek: The loudest buzz at the recent Geneva Auto Show came from a new fleet of so-called supercars. Lamborghini unveiled its new Huracan ($181,900), Ferrari rolled out its California T ($205,000, estimated), McLaren showed off its 650S ($326,100). Porsche sought to separate the wealthy from the filthy rich with the $845,000 sticker price on its 918 Spyder. Supercars are hot thanks to bullish stock market and surging home prices that have pushed household net worth to a record high.

 

J.C. Penney rises as Citigroup analyst upgrades to buy

Bloomberg: J.C. Penney Co., the retailer that's posted three straight annual losses, rose as much as 8.9 percent in early trading after a Citigroup Inc. analyst recommended buying the shares because of its nascent turnaround. The stock climbed as high as $9.17 as 8:15 a.m. in New York. Shares of Plano, Texas-based J.C. Penney had dropped 8 percent this year through yesterday, compared with a 1.6 percent gain for the Standard & Poor's 500 Index.