![]() Postini headquarters in San Carlos, Calif., will be taken over by Google, which announced a $625 million buyout of the e-mail security specialist. Google is trying to make its services be seen as more trustworthy.
Paul Sakuma / The Associated Press
Assessment Technology, Inc Social Studies Content Writer General CORT WAREHOUSE/DRIVER General CORT Warehouse Supervisor Construction Komatsu Equipment Co Mechanic Health Care Rio Salado College PA's/Online Instructors BusinessBusiness briefsTucson, Arizona | Published: 07.10.2007
Altimas are recalled due to fire hazard
NEW YORK — Nissan Motor Co. is recalling 140,582 of its 2007 Altima cars, the automaker's best-selling U.S. vehicle, because the air filter can catch fire if a hot object is drawn into it.
The recall affects Altima cars with a 2.5-liter, four-cylinder engine, the Tokyo-based automaker told the U.S. National Highway Traffic Safety Administration. Nissan told the Washington-based agency that it began notifying owners on July 3. Four fires were reported in February and March, the company said.
The filter will be replaced because it can ignite if something hot such as cigarette ash enters through the vehicle's fresh-air intake valve, Nissan said.
Alcoa's profit slid 4% in 2nd quarter
PITTSBURGH — Aluminum maker Alcoa Inc. said Monday that its second-quarter profit slipped nearly 4 percent as outage costs at two smelters weighed down results. Net income fell to $715 million, or 81 cents per share, from $744 million, or 85 cents per share, last year.
Alcoa, the first of the Dow Jones Industrials to report earnings this quarter, booked $36 million, or 4 cents per share, for curtailment costs at its facilities in Alcoa, Tenn., and Rockdale, Texas.
Oil-plant shutdown boosts fuel futures
NEW YORK — Gasoline futures rose Monday after BP PLC was forced to shut down a huge oil-processing unit for maintenance. In London trading, meanwhile, Brent crude oil retreated from its earlier advance above $76.
The closure created concerns among traders that gasoline production would be hurt — sending futures higher — and that there would be less demand for crude, sending oil futures lower.
Light, sweet crude for August delivery fell 62 cents to settle at $72.19 a barrel on the New York Mercantile Exchange. The price dipped as low as $71.81 earlier Monday. Gasoline for August rose 3.5 cents to settle at $2.3446 on the Nymex.
Consumer borrowing up sharply in May
WASHINGTON — Consumer borrowing posted a hefty increase in May, reflecting the biggest jump in credit card debt in six months.
The Federal Reserve reported Monday that consumer credit rose at an annual rate of 6.4 percent in May, far above the small 1.1 percent gain of April.
The increase was propelled by a surge in the category that includes credit cards, which rose at a rate of 9.8 percent in May after having a tiny increase of 0.2 percent in April.
E-mail security firm is bought by Google
SAN FRANCISCO — Google Inc. is buying e-mail security specialist Postini Inc. for $625 million, fortifying the Internet search leader's effort to sell online software services to corporate customers seeking alternatives to Microsoft Corp.'s long-dominant products.
The all-cash deal announced Monday is aimed at reassuring large businesses that have had qualms about entrusting Google to oversee their e-mail systems and other vital applications.
Google began selling companies a low-cost suite of online software that includes e-mail, calendaring and word processing in February.
T-bill rates increase
WASHINGTON — Interest rates on short-term Treasury bills rose in Monday's auction to the highest levels since April.
The Treasury Department auctioned $15 billion in three-month bills at a discount rate of 4.815 percent, up from 4.790 percent last week. Another $14 billion in six-month bills was auctioned at a discount rate of 4.850 percent, up from 4.810 percent last week.
Discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,878.29; a six-month bill sold for $9,754.81.
Wire reports
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