U.S. auto sales were stronger than ex­pected in May, boosted by Me­mo­rial Day pro­mo­tions and strong de­mand for new SUVs. Sales rose 2 per­cent over last May to more than 1.64 mil­lion cars and trucks, their fastest pace since July 2005, ac­cord­ing to Au­to­data.

Ap­ple is re­call­ing some Beats Pill XL por­ta­ble wire­less speak­ers be­cause of a fire haz­ard caused by over­heat­ing bat­ter­ies. The iPhone maker will re­call about 222,000 speak­ers in the U.S. and about 11,000 in Canada, the Con­sumer Prod­uct Safety Com­mis­sion said.

One of Google’s driver­less cars was in­volved in an­other rear-end ac­ci­dent, co-founder Sergey Brin said. Google’s self-driv­ing ve­hi­cles have been in­volved in 12 ac­ci­dents in the six years they have been in testing, although none was the fault of the car, the com­pany said. Sub­way, the “Eat Fresh” megadeli strug­gling with sink­ing sales, said it plans to drop all ar­ti­fi­cial colors, fla­vors and preser­va­tives from its Amer­i­can menus by 2017.

Cap­i­tal Busi­ness

Two co-founders of District­based Car­lyle Group — Chair­man Daniel A. D’Aniello and co-chief ex­ec­u­tive Wil­liam E. Con­way Jr. — sold 2 per­cent of their re­spec­tive shares in the pub­licly traded as­set­man­age­ment firm, pock­et­ing about $31 mil­lion each.

Broad Soft, the Gaithers­burg, Md.based telecom­mu­ni­ca­tions com­pany, said it has ac­quired McLean, Va.-based mPor­tal, a maker of cus­tom­ized mo­bile sites, for an undis­closed sum.


Dish Net­work is in talks to ac­quire T-Mo­bile. Both com­pa­nies’ stocks rose sharply on news of the merger talks, first re­ported by the Wall Street Jour­nal.


The U.S. econ­omy added 280,000 jobs in May, but the un­em­ploy­ment rate went up a notch to 5.5 per­cent. That in­crease was due to a rise in the num­ber of peo­ple en­ter­ing the work­force for the first time and look­ing for jobs.

Global growth dur­ing the first quar­ter was the weak­est at any point since the fi­nan­cial cri­sis, the Or­ga­ni­za­tion for Eco­nomic Co­op­er­a­tion and Devel­op­ment said. The group pre­dicted that the global econ­omy will ex­pand at an an­nual rate of 3.1 per­cent ver­sus the 4 per­cent rate it fore­cast a few months ago.

Greece pulled the emer­gency cord in its fraught bailout talks, opt­ing to bun­dle to­gether its four pay­ments due to the In­ter­na­tional Mon­e­tary Fund this month into one on June 30.

The In­ter­na­tional Mon­e­tary Fund urged the Fed­eral Re­serve to wait un­til the first half of 2016 to start rais­ing short-term in­ter­est rates be­cause the U.S. econ­omy re­mains sub­par.


Sen. El­iz­a­beth War­ren (D-Mass.) sent SEC chair Mary Jo White a harshly worded, 13-page let­ter, say­ing her lead­er­ship of the U.S. Se­cu­ri­ties and Ex­change Com­mis­sion “has been ex­tremely dis­ap­point­ing.”

A Takata ex­ec­u­tive told a con­gres­sional hear­ing that the airbag maker is still us­ing a chem­i­cal that some ex­perts have blamed for a deadly de­fect.

The SEC sued Nedko Nedev of Sofia, Bul­garia, and sev­eral cor­po­rate de­fen­dants in Man­hat­tan fed­eral court, af­ter a firm call­ing it­self PTG Cap­i­tal Part­ners of­fered on May 14 to buy Avon for $18.75 per share, a 181 per­cent pre­mium. That caused the cos­met­ics com­pany’s shares to soar 20 per­cent.


JP Mor­gan Chase has ended voice-mail ser­vices for about half of its 136,000 con­sumer bank em­ploy­ees, in an ef­fort to save money and in recog­ni­tion that voice­mail is be­ing re­placed by text mes­sages and e-mails.

Amer­i­can Ap­parel said it was granted a re­strain­ing or­der against ousted chief ex­ec­u­tive and founder Dov Char­ney. The chair­man and chief ex­ec­u­tive of Toys R Us is re­tir­ing and will be suc­ceeded by an ex­ec­u­tive with ex­pe­ri­ence in tak­ing com­pa­nies public. The pri­vately held toy re­tailer said David Bran­don will take over from An­to­nio Urce­lay on July 1. Gos­sip and news site Gawker

Me­dia em­ploy­ees said they have voted to join the Writ­ers Guild of Amer­ica, East, mak­ing it the first dig­i­tal me­dia out­let to or­ga­nize.

Wal-Mart elected a new chair­man, Greg Pen­ner, who will suc­ceed Rob Wal­ton and be­come the third-ever chair­man of the re­tail busi­ness built by the Wal­ton fam­ily.

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