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Light trading...Pipeline explosion fine...BMW, GM recalls...Tanning bed warnings

Monday - 5/6/2013, 7:00pm  ET

NEW YORK (AP) -- The week is off to a slow start on Wall Street. The major stock market indexes ended little changed today after a record-breaking week last week. The Dow lost five points to close at 14,969. The S&P 500 index rose three points to 1,617.50, setting another record. The Nasdaq added 14 points to 3,393.

SAN FRANCISCO (AP) -- A California agency says Pacific Gas & Electric Co. should be fined for its negligence leading up to a 2010 gas pipeline explosion in a San Francisco Bay Area neighborhood. The blast in San Bruno sparked a fireball that killed eight people, injured dozens and destroyed 38 homes. The California Public Utilities Commission is recommending PG&E pay a $2.25 billion fine.

DETROIT (AP) -- Two automakers have announced recalls. BMW is recalling more than 45,000 3 Series sedans in the U.S. and Canada from the 2002 and 2003 model years because their passenger air bags may not inflate properly. General Motors is recalling more than 38,000 Chevrolet Malibu Eco, Buick LaCrosse and Buick Regal sedans because a defective battery control module could stall the engine or cause a fire. Vehicles from the 2012 and 2013 model years equipped with GM's eAssist hybrid system are affected.

HARRISBURG, Pa. (AP) -- The U.S. Securities and Exchange Commission is settling new charges that Pennsylvania's capital city provided bond investors with "incomplete or outdated" information about its troubled finances. The charges against Harrisburg represent the first time a municipality has been accused of misleading statements made outside of securities disclosures. The SEC says the city made misleading statements in a budget report, financial statements and "state of the city" address.

WASHINGTON (AP) -- The Food and Drug Administration is proposing that indoor tanning beds carry new warnings about the risk of cancer. The action is aimed at curbing cases of melanoma, the deadliest form of skin cancer. The risk of melanoma is 75 percent greater in people who have been exposed to ultraviolet radiation from indoor tanning.


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