Stocks rise…Regulators demand info from air bag maker…FTC sues Gerber over formula claims

NEW YORK (AP) — Stocks are climbing in afternoon trading on Wall Street after Visa, MasterCard and other big companies turned in strong quarterly results. The Dow Jones industrial average has been up more than 200 points, thanks largely to Visa, the Dow’s highest-priced stock.

DETROIT (AP) — U.S. safety regulators are demanding reams of information from a Japanese company about problems with its air bags. The National Highway Traffic Safety Administration wants Takata Corp. to share any information it has about production mistakes, lawsuit settlements and deaths or injuries linked to the air bags. Ten automakers have recalled nearly 8 million vehicles equipped with potentially faulty Takata air bag inflators. The air bags can inflate with too much force and send metal shards flying. Safety advocates say the problem has caused four fatalities.

WASHINGTON (AP) — Federal regulators have announced they are suing Gerber for claiming that its Good Start Gentle baby formula can prevent or reduce allergies in children. The Federal Trade Commission says that claim is bogus, and the company misled consumers by suggesting that its formula was the first to meet government approval for reducing the risk of allergies. The FTC wants Gerber to pull the claim from formula labels and ads.

NEW YORK (AP) — Microsoft is releasing a $199 fitness band that also checks your email and pays for coffee, in a partnership with Starbucks. The Microsoft Band will work with the new Microsoft Health system for consolidating health and fitness data from various gadgets and mobile apps. The Band will serve as a showcase for Microsoft Health, which follows the launch of Apple’s HealthKit in September and Google Fit earlier this week.

NEW YORK (AP) — Apple CEO Tim Cook has announced that he is gay, in an essay for Bloomberg Businessweek. Cook says he’s been open with many people about his sexual orientation but never publicly acknowledged it out of a desire for privacy. But he says he decided that a public acknowledgement could help others. Cook succeeded Apple founder Steve Jobs as CEO in 2011.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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