Recaro recalls more than 39,000 child safety seats
DETROIT - Recaro is recalling more than 39,000 child safety seats because they can let a child's head move too far in a crash.
The recall covers ProSport model 385 seats made from June 16, 2010, to Jan. 31, 2013. The problem happens when the seats are installed with the lower latch anchors and without the top tether.
Recaro will notify owners and provide set of new instructions telling owners not to use the lower latch system with a child weighing 40 or more pounds. The company also will send a new instruction label for the seat.
The problem was discovered in testing by Recaro. The company says in documents sent to U.S. safety regulators that it cannot determine if the problem caused any injuries.
Home Depot 2nd quarter profit climbs 14 percent
ATLANTA - Home Depot's fiscal second-quarter net income surged 14 percent thanks to a rebound in its spring selling season.
The nation's largest home improvement retailer also raised its annual profit guidance Tuesday.
Spring is the biggest season for home-improvement retailers, as homeowners and others work on their yards and gardens. While the season started off a bit cold and rainy, weather improved and shoppers headed out to stores to pick up supplies. In particular, purchases over $900 like appliances and water heaters, which account for 20 percent of total U.S. sales, rose 8 percent.
"These results support the view of a continued recovery in the U.S. home-improvement market," Frank Blake, Home Depot's CEO, told investors during its earnings call.
Japan's NSK fined by China in anti-monopoly case
BEIJING - A Japanese auto parts supplier, NSK Ltd., said Tuesday it was fined $28.2 million by Chinese anti-monopoly regulators in an unfolding probe of the industry.
In a statement, Tokyo-based NSK gave no details of the offenses of which it was accused. The company said it was cooperating with authorities.
Regulators have launched a series of anti-monopoly investigations against global automakers and technology suppliers under China's 6-year-old anti-monopoly law in a possible effort to force down prices.
An official said earlier that 11 Japanese companies in the auto industry violated the law but none had been publicly identified.
First Niles shares unchanged, Cortland rises
First Niles Financial shares remained unchanged in trading Tuesday, closing at $9. Cortland Bancorp rose 14 cents to close at $12.84 a share.