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Luxury SUV comparison: Audi Q5 vs BMW X3

The Audi Q5 and BMW X3 are among the most popular options for shoppers interested in a small luxury SUV. Each one offers a practical size, a classy cabin, and a relatively affordable way to get an SUV with a luxury badge. Notably, the Q5 and the X3 also received full redesigns last year. The BMW X3 adopted a radically different design inside and out. The Audi Q5’s exterior didn’t change much, but inside there’s a new emphasis on technology. So, which luxury SUV is the better buy? Let’s examine their specs, strengths, weaknesses and differences, along with how Edmunds’ ...

Oil prices drop 9% and Wall Street rallies

NEW YORK (AP) — Oil prices dropped back to where they were in the early days of the Iran war, and U.S. stocks raced to another record Friday after Iran said the Strait of Hormuz is open again for commercial tankers carrying crude from the Persian Gulf to customers worldwide. The S&P 500 leaped 1.2% to an all-time high and closed out a third straight week of big gains, its longest streak since Halloween. A freer flow of oil could take pressure off prices not only for gasoline but also for groceries and all kinds of other products that get moved by vehicles. It could even ultimately ...

Average mortgage rate eases to 6.3%

The average long-term U.S. mortgage rate declined again this week, easing borrowing costs for prospective homebuyers during what is typically the housing market’s busiest time of the year. The benchmark 30-year fixed rate mortgage rate dropped to 6.3% from 6.37% last week, mortgage buyer Freddie Mac said Thursday. One year ago, the rate averaged 6.83%. The average rate is now at its lowest level since March 19, when it was 6.22%. Meanwhile, borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also eased this week. That average ...

Ford recalls 1.4 million F-150 pickup trucks to fix a gearshift issue

Ford is recalling almost 1.4 million of its F-150 pickup trucks in the U.S. because of a gearshift issue that may lead to the loss of control of vehicles and increasing the risk of a crash. The automaker is aware of two injuries and one accident possibly related to the issue. The recall includes F-150 light trucks with a six-speed automatic transmission that were produced between March 12, 2014 an Aug 18, 2017. The National Highway Traffic Safety Administration’s safety recall report says that some of the pickup trucks may experience an intermittent selection signal of the ...

Europe has ‘maybe 6 weeks of jet fuel left,’ energy agency head warns

PARIS (AP) — Europe has “maybe six weeks or so” of remaining jet fuel supplies, the head of the International Energy Agency said Thursday in a wide-ranging interview, warning of possible flight cancellations “soon” if oil supplies remain blocked by the Iran war. IEA Executive Director Fatih Birol painted a sobering picture of the global repercussions of what he called “the largest energy crisis we have ever faced,” stemming from the pinch-off of oil, gas and other vital supplies through the Strait of Hormuz. “In the past there was a group called ‘Dire Straits.’ ...

PepsiCo’s sales jump after it cuts prices

PepsiCo’s decision to lower prices and cut artificial ingredients paid off in the first quarter, boosting demand for its snacks and drinks. Revenue jumped 8.5% to $19.44 billion in the January-March period compared to the same period a year ago, the Purchase, New York, company said Thursday. That handily beat Wall Street’s forecast of $18.95 billion, according to analysts polled by FactSet. “The consumer is coming back multiple times to our brands, responding to our holistic value plus execution, plus advertising, plus innovation strategy,” PepsiCo CEO Ramon Laguarta said ...