Money Matters - Simplified


GE recalls 2.5M dishwashers as fire hazard

Washington -- General Electric Co. Wednesday recalled 2.5 million U.S.-made dishwashers that could catch fire if liquid rinse aid leaks onto internal wiring.

3M agrees to pay $13M to clean up Toxins

St. Paul, Minn. -- The 3M Co. has agreed to pay $13 million to clean up a former landfill near Minneapolis and look into other contaminated areas of Minnesota, officials said.

Chrysler to be sold for $7.4B

Stuttgart, Germany -- DaimlerChrysler AG said Monday it would sell 80.1 percent of its troubled Chrysler Group to a U.S. private-equity firm for $7.4 billion.

Chrysler recalls 2005 minivans

Auburn Hills, Mich. -- Chrysler is recalling as many 270,958 2005 model Dodge Caravan and Chrysler Town & Country minivans.

Honda plans hydrogen car for U.S.

Washington -- Honda plans to introduce a hydrogen fuel cell sedan in the United States next year with a mass-market hybrid on sale by 2009.

Magna confirms it bid for Chrysler

Aurora, Ontario -- Canadian automobile parts manufacturer Magna International Inc. confirmed Wednesday it made a formal bid for DaimlerChrysler AG's Chrysler unit.

New modem 100 times faster than DSL

Las Vegas -- The next generation of Internet cable modems will download in a fraction of a second what today takes several minutes, a U.S. cable executive says.

Sematech moving to N.Y. from Texas

Albany, N.Y. -- The computer chip consortium that helped transform Austin, Texas, into a major computer research center will move to Albany, N.Y., officials said Wednesday.

Amazon, IBM settle patent lawsuits

Armonk, N.Y. -- Inc. and IBM Corp. said Tuesday they settled all patent lawsuits between the U.S. companies for an undisclosed sum paid to IBM.

Cisco 3Q Profit up, Stocks fall

Cisco Systems Inc. on Tuesday said that its quarterly net profit rose 34 per cent with surging demand of network equipment due to increasing Internet traffic. The financial results for the three month