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Rally pauses...RIM shares plunge...Child safety locks prompt Ford recall

Friday - 6/28/2013, 12:10pm  ET

NEW YORK (AP) -- Wall Street's three-day rally is taking a pause. Stocks are slipping in early trading. The Dow Jones industrial average had gained 365 points over the past three days. The S&P 500 is headed for its first monthly loss since October, but it's still on track to end June with the best first half of a year since 1998. It's gained 13.8 percent so far this year.

TORONTO (AP) -- Shares of BlackBerry maker Research In Motion have plunged nearly 30 percent in early trading. That's after the company posted a loss and warned of future losses despite releasing its make-or-break new smartphones this year. RIM also announced that it will stop developing new versions its slow-selling tablet computer called the Playbook.

DETROIT (AP) -- Ford is recalling just over 13,000 Explorer, Taurus and Lincoln MKS cars and SUVs because the child safety locks might not work on the rear doors. The recall affects 2013 model cars sold mainly in the U.S., Canada and Mexico that were built late last year. Ford says no injuries have been reported.

BERLIN (AP) -- Germany has blocked a European Union agreement on capping car carbon emissions, saying the deal could have cost jobs and harmed its domestic auto industry. Germany has invested heavily in renewable energy and has been seen as a champion of green issues. But Chancellor Angela Merkel (AHN'-geh-lah MEHR'-kuhl) says despite the need to make progress on protecting the environment, it's important "not to weaken our own industrial base."

VATICAN CITY (AP) -- A Vatican cleric and two other people have been arrested by Italian police for allegedly trying to smuggle $26 million in euros into the country from Switzerland. A prosecutor says the cleric was flying by private jet, avoiding customs. He was already under investigation in a purported money-laundering plot involving the Vatican bank.


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