Ford recalls 1.3M vehicles for suspension, transmission woes

U20 World Championships LIVE: Ireland secure bonus point before half-time but need to boost scoring difference

Ireland U20 face Italy in their final pool game at the World Championships in Argentina looking for a win that might help them into the semi-finals. The game kicks off at 14.30 Irish time and you can follow all the action in our live blog.

Israel upgrades its air-raid warning system

The Israeli military says it has overhauled its air-raid warning system in order to minimize disruptions to the general population.

The army said on Wednesday that it is has divided the country into 1,700 alarm zones, up from the current 255 zones.

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Ariel Blitz, head of public preparedness at the military's home front command, says the system will more accurately pinpoint where an incoming rocket is heading.

He says that in Israel's southern region near Gaza — an area that is a frequent target of Palestinian rocket fire — 75% fewer individuals will hear each siren. During past rounds of fighting, nonstop air-raid sirens have heavily disrupted life in the area.

Markets Right Now: US stocks are mixed in early trading

The latest on developments in financial markets (all times local):

9:35 a.m.

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Major U.S. indexes are mixed in early trading as gains for health care stocks are offset by weakness in energy companies.

Johnson & Johnson rose 1.5% early Wednesday.

The energy sector was broadly lower. Concho Resources gave up 2.1%

Benchmark U.S. crude sank 2% early Wednesday to just over $52 a barrel. It was trading at $59 a barrel two weeks ago. Traders think demand for oil may wane at the same time supplies are high.

Technology stocks also fell. Network equipment maker Cisco lost 1.1%


The S&P 500 index was little changed at 2,888.

The Dow Jones Industrial Average edged up 31 points, or 0.1%, to 26,075. The Nasdaq fell 4 points, or 0.1%, to 7,818.

Mattel shares jump 8% on reports of rejected merger offer

Mattel Inc. MAT, +9.53% stock jumped almost 8% in early Wednesday trading after reports that the toy company turned down a merger offer from MGA Entertainment Inc., the company behind LOL Surprise and the Bratz dolls. Mattel has struggled with sales declines, but has taken steps to create partnerships and delve more deeply into entertainment, such as a deal with Pixar and an expanded deal with Warner Bros. Mattel shares have rallied 13.4% for the year to date while the S&P 500 index SPX, -0.05% is up 15.2% for the period.

Is High Yield Underperformance Clearing the Way for Quality?

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After investors got washed through the May volatility cycle thanks to trade wars, that may have tamped down their risk-on sentiment and this is where a potential buying opportunity exists for investment-grade debt. As a result, high yield has underperformed lately as investors flocked to the safer confines of quality oriented assets like investment-grade debt […]

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Brazil's Caixa returns 3 bln reais to Treasury, eyes 20 bln reais transfer

BRASILIA, June 12 (Reuters) – Brazil’s state-owned bank Caixa Economica Federal is returning 3 billion reais ($1.825 billion) to the Treasury, funds which will be used to reduce the public debt, the bank’s president Pedro Guimaraes and Economy Minister Paulo Guedes said on Wednesday.

Guimaraes said the aim is to return 20 billion reais to the government this year, and Guedes said that other state-owned banks will follow Caixa’s example and repay previous loans made by the Treasury. (Reporting by Mateus Maia Writing by Jamie McGeever)

Pfizer Says Study Supports Use Of Xeljanz Alone In Rheumatoid Arthritis

Pfizer Inc. (PFE) said that results of ORAL Shift, a Phase 3b/4 study in adult patients with moderately to severely active rheumatoid arthritis, provided important information on the use of Xeljanz XR as monotherapy after methotrexate withdrawal, which is significant as some people living with rheumatoid arthritis are unable or unwilling to use methotrexate.

The company noted that the study demonstrated non-inferiority of MTX withdrawal with XELJANZ XR 11 mg QD compared to XELJANZ XR 11 mg QD plus MTX at week 48 as measured by the primary endpoint, the change in the Disease Activity Score from randomization at week 24 to the end of the double-blind MTX withdrawal phase at week 48.

The primary analysis showed that XELJANZ XR 11 mg QD monotherapy was non-inferior to XELJANZ XR 11 mg QD with MTX at week 48.

Facebook opens engineering center in London dedicated to eliminating harmful content

LONDON (AP) — FacebookFB, -0.42%  is opening an engineering center in London that will build tech tools aimed at keeping harmful content off its site.

The U.S. social network’s announcement Wednesday comes as governments put more pressure on the big tech companies to better police their platforms.

The company said in a statement it will add more than 500 new tech jobs, including 100 in artificial intelligence, for the new hub by the end of the year.

It said “a significant number” of the new jobs will be in the company’s community integrity team, which works on stopping spam and abuse and addressing violence and personal safety.

One of the team’s responsibilities is building advanced software and artificial intelligence systems to detect and remove harmful behavior such as malicious content and fake accounts.

Ford recalls 1.3M vehicles for suspension, transmission woes

Ford is recalling over 1.3 million vehicles mainly in North America to fix rear suspension and transmission control software problems.

The largest recall covers over 1.2 million Explorer SUVs from 2011 through 2017. Ford says a rear suspension toe link can break if the suspension moves a lot. That can limit steering control. One customer reported running into a curb when a link broke, but Ford says it's not aware of any injuries.

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Dealers will replace the left and right toe links, which keep weight on the tires.

Ford also is recalling 123,000 2013 F-150 pickups for a second time to stop transmissions from unintentionally downshifting into first gear. The recall covers pickups with 5-liter and 6.2-liter gas engines. A previous software update didn't work.

Dealers will update it again.