FORD’S PROFIT TUMBLES AS VEHICLE COSTS JUMP

Ford’s profits sank 35% during the first quarter to $1.6 billion as higher costs for warranties, recalls and materials eroded the bottom line. The company had earned a best-ever profit of $2.4 billion in the first quarter of 2016. On a per-share basis Ford earned 39 cents compared with the 36 cents per share Wall Street analysts had expected.