NEW YORK (AP) — Stocks are climbing in afternoon trading on Wall Street at the end of a turbulent trading week. Investors are welcoming news from the Commerce Department that the U.S. economy expanded at an annual rate of 4.6 percent in the April-June quarter, the fastest pace in more than two years.
WASHINGTON (AP) — A measure of U.S. consumer confidence has reached its highest level since July of 2013, led by more optimism that the economy will grow and incomes will rise. The University of Michigan says its index of consumer sentiment rose to 84.6 in September from 82.5 in August. That’s the second-highest level in the past seven years. Before the recession it typically stood above 90.
NEW YORK (AP) — Ford is recalling about 850,000 cars and SUVs because of a problem that could stop the air bags from working in a crash. The recalled models include the 2013-14 Ford C-Max compact, Fusion midsize, Escape SUV and the Lincoln MKZ luxury car, all sold in North America. Ford says the restraints control module in the car could short circuit, preventing the air bags and other restraint devices from working in a crash.
SAN FRANCISCO (AP) — An activist investor is urging Yahoo to buy rival AOL to help the struggling Internet companies become more competitive in a digital advertising market currently dominated by Google and Facebook. Jeffrey Smith, who heads Starboard Value LP, outlined his rationale for the AOL deal in a letter to Yahoo CEO Marissa Mayer and the company’s board of directors. The letter says Starboard has accumulated a “significant” stake in Yahoo.
CHICAGO (AP) — Some planes are taking off and landing again at Chicago’s two airports after a fire at a suburban air traffic control center forced hundreds of cancellations. But it’s not clear when full service will resume. All flights in and out of O’Hare and Midway airports were halted for more than five hours. Authorities say the early morning fire at the control center in Aurora was deliberately set by a contract employee, who was taken to a hospital with self-inflicted knife wounds and burns.
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