Business Briefs – August 28, 2016

U.S. Wants to Force Lower Speeds On Truck and Bus Drivers

DETROIT (AP) – The U.S. is seeking to forcibly limit how fast trucks, buses and other large vehicles can travel on the nation’s highways.

A new proposal Friday would impose a nationwide limit by electronically capping speeds with a device on newly made U.S. vehicles that weigh more than 26,000 pounds. Regulators are considering a cap of 60, 65 or 68 mph, though that could change. Whatever the speed limit, drivers would be physically prevented from exceeding it.

The government said capping speeds for new large vehicles will reduce the 1,115 fatal crashes involving heavy trucks that occur each year and save $1 billion in fuel costs.

Brewer AB Inbev to Cut Thousands Of Jobs in Takeover Deal

BRUSSELS (AP) – The world’s largest brewer, AB Inbev, expects to cut about 3 percent of its total workforce once it completes its huge takeover of its closest rival, SABMiller.

The company headquartered in Belgium, has about 150,000 workers while the London-based SABMiller claims to have around 70,000.

That would put the estimated job losses at around 6,600 over a three-year period. However, AB Inbev said in documents published Friday that the estimate doesn’t include its sales and front-office supply departments, for which integration plans are not completed.

Mazda Recalls SUVs Over Potential Steering Problem

NEW YORK (AP) – Mazda Motor Corp. is recalling more than 190,000 CX-7 sport utility vehicles because of a potentially dangerous steering control defect.

The recall involves vehicles made from February 14, 2006 through May 9, 2012. Last year, the company recalled more than 190,000 CX-9 SUVs made between 2007 and 2014 because of concerns over steering control loss.

In the latest recall, the National Highway Traffic Safety Administration said that water may enter the front suspension ball joint fittings. Water from salted roadways in the winter months can result in corrosion loosening ball joint fittings, which could eventually result in a loss of steering control.

Biden Announces New Funding For Amtrak Northeast Corridor

WILMINGTON, Del. (AP) – Federal officials say the government will make a $2.45 billion loan to Amtrak to buy new trains, upgrade tracks and make platform improvements on the Northeast corridor.

Vice President Joe Biden made the announcement Friday at the Wilmington, Delaware, station, which is named for him. He was joined by Deputy Secretary of Transportation Victor Mendez, whose agency is making the loan.

Billionaire Richard Branson Survives Bike Crash

LONDON (AP) – Billionaire entrepreneur Richard Branson said Friday he thought he was going to die after flying head first off his bicycle in the British Virgin Islands.

The Virgin Group boss hit a hump in the road on Virgin Gorda, one of the islands in the Caribbean, catapulting him into the road.

Branson traveled to Miami to receive medical treatment. He said he was really lucky to have not suffered more serious injuries.

GM Recalling About 368,000 Vehicles to Fix Windshield Wipers

NEW YORK (AP) – General Motors is recalling nearly 368,000 vehicles to fix a defective part that could prevent the windshield wipers from working.

The problem affects the 2013 models of the Chevrolet Equinox and GMC Terrain. GM says those vehicles were built with ball joints that could corrode and wear out to render the windshield wipers inoperable.

A report filed with government regulators says a GM manager in Canada spotted the potential safety hazard last December. The auto manufacturer opened an investigation in March and decided to issue a recall earlier this month.

GM says it will cover the repair costs once it determines when it will be able to fix the problem.

Fire Sweeps Through Russian Warehouse, Killing 17 Workers

MOSCOW (AP) – A fire swept through a Moscow printing plant warehouse on Saturday, killing 17 migrant workers from Kyrgyzstan, Russia’s emergency services said. The fire was caused by a faulty lamp on the first floor of the warehouse, where many flammable liquids and paper products were stored, and it spread quickly through an elevator shaft to the room where those who died were, said Ilya Denisov, who heads the Moscow branch of the emergency services.

He said firefighters found the bodies of 16 workers and sent four injured workers to the hospital, where one later died.