ALSO IN BUSI­NESS

The Washington Post - - ECONOMY & BUSINESS -

Toy­ota is re­call­ing nearly 188,000 pickup trucks, SUVs and cars world­wide be­cause the air bags may not in­flate in a crash. The re­call cov­ers 2018 and 2019 Tun­dra pick­ups and Se­quoia SUVs as well as 2019 Avalon sedans. Toy­ota says the air bag con­trol com­puter can er­ro­neously de­tect a fault when the ve­hi­cles are started. With a fault, the air bags may not de­ploy in a crash. The com­pany wouldn’t say whether the prob­lem has caused any in­juries. The re­call is ex­pected to be­gin Oct. 22. Toy­ota says the re­call cov­ers about 185,000 ve­hi­cles in North Amer­ica and 2,600 in other mar­kets. Wells Fargo, still haunted by mul­ti­ple scan­dals, re­ported higher earn­ings in the third quar­ter Fri­day but still short of fore­casts. Wells saw its earn­ings jump to $6 bil­lion from $4.5 bil­lion in 2017’s third quar­ter, al­though last year the bank had to set aside $1 bil­lion for le­gal ex­penses re­lated to its mort­gage prac­tices be­fore the fi­nan­cial cri­sis. The bank earned $1.13 a share, less than the $1.17 ex­pected by an­a­lysts sur­veyed by Zacks In­vest­ment Re­search. The com­pany’s rev­enue was up slightly from the same pe­riod last year at $21.9 bil­lion. Gary Cohn, Pres­i­dent Trump’s for­mer chief eco­nomic aide, will serve as an ad­viser to blockchain-tech­nol­ogy start-up Spring Labs. It’s the for­mer Gold­man Sachs chief’s most high-pro­file move since he re­signed as Na­tional Eco­nomic Coun­cil di­rec­tor this year af­ter Trump im­posed tar­iffs on alu­minum and steel that Cohn op­posed. Spring Labs wants to use the distributed-ledger tech­nol­ogy to al­low lenders and data providers to ex­change credit and iden­tity in­for­ma­tion more ef­fi­ciently, ac­cord­ing to a com­pany news re­lease. Sub­way Restau­rants is part­ner­ing with UberEats, Grub­hub, Do­or­Dash and Post­mates to start de­liv­ery from al­most 9,000 of its about 26,000 U.S. restau­rants. More stores will of­fer the ser­vice in “com­ing months,” the com­pany said in a state­ment Fri­day. Sub­way is fight­ing to re­v­erse a slump amid deep­en­ing restau­rant com­pe­ti­tion and dis­counts, and has been try­ing to en­er­gize sales with bet­ter tech­nol­ogy such as self-or­der kiosks. The United States is in­ves­ti­gat­ing al­leged dump­ing of China-made mat­tresses af­ter com­plaints from sev­eral U.S. man­u­fac­tur­ers, in­clud­ing Leggett & Platt and Tem­pur Sealy, the De­part­ment of Com­merce said Fri­day. Other pri­vately held com­pa­nies also signed the pe­ti­tion seek­ing the probe. The Com­merce De­part­ment said the U.S. In­ter­na­tional Trade Com­mis­sion would make its ini­tial de­ci­sion by Nov. 2, fol­lowed by the Com­merce De­part­ment by Feb. 27. A fi­nal de­ci­sion is sched­uled for May 13.

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