Safety group claims 303 deaths linked to recalled GM cars
CNNMoney: An auto safety group says federal data shows there were 303 deaths in recalled General Motors cars in which airbags did not deploy, but GM says the report misrepresents raw information about crashes. The Center for Auto Safety, a public interest group started by Ralph Nader and Consumers Union, has written to federal safety regulators charging that the number of accidents is far greater than being admitted by GM.
Bank of America back in court over $2.1 billion fraud penalties
Reuters: A U.S. judge wrestled on Thursday with a U.S. Justice Department request that Bank of America Corp. pay $2.1 billion in penalties after being found liable for fraud over defective mortgages sold by its Countrywide unit. In a second hearing on the penalties to be imposed on the bank, U.S. District Judge Jed Rakoff in New York said he had not yet decided how to rule in what was one of the few cases stemming from the financial crisis to go to trial.
Wholesale prices in U.S. unexpectedly drop on services
Bloomberg: Producer prices in the U.S. unexpectedly dropped in February, held back by the biggest decrease in the cost of services in almost a year. The 0.1 percent decrease in the producer price index followed a 0.2 percent rise the prior month, according to a Labor Department report released today in Washington. None of the 73 economists surveyed by Bloomberg projected a decrease. Over the past 12 months, wholesale prices rose 0.9 percent, the smallest year-to-year gain since May.