Korean automakers Hyundai and Kia are recalling almost 1.9 million vehicles to fix problems with air bags and brake light switches.
The switch recall covers almost 1.7 million vehicles — most of the automakers’ lineups from the 2007 through 2011 model years. In addition, Hyundai is recalling about 194,000 Elantra compacts from 2011 to 2013 to fix an air bag problem.
Hyundai models affected by the brake light switch recall include the 2007 to 2009 Accent and Tucson, the 2007 to 2010 Elantra, the 2011 Sonata, the 2007 to 2011 Santa Fe, the 2008 to 2009 Veracruz and the 2010 to 2011 Genesis Coupe. Kia models include the 2007 to 2010 Rondo and Sportage, the 2011 Optima, the 2007 to 2011 Sorento, the 2010 to 2011 Soul and the 2007 Sedona.
Pay by weight
A tiny Samoan airline is giving passengers a big reason to lose weight —tickets sold not by the seat, but by the kilogram.
Samoa Air has started pricing its first international flights based on the weight of its passengers and their bags.
Depending on the flight, each kilogram, or 2.2 pounds, costs 93 cents to $1.06. That means the average American man weighing 195 pounds with a 35-pound bag would pay $97 to go one way between Apia, Samoa, and Pago Pago, American Samoa. Competitors typically charge $130 to $140 round trip for similar routes.
Bind Therapeutics said Pfizer has agreed to pay it $160 million per drug as part of a collaboration to develop targeted medicines using nanotechnology, which relies on particles measured in billionths of a meter.
Bind is developing an experimental group of targeted, programmable medicines called Accurins to treat cancer, heart disease and inflammatory disorders.
The privately held company’s technology comes from two laboratories that specialize in nanotechnology at Harvard Medical School and the Massachusetts Institute of Technology.
Five years later
The frugality and investing discipline that the 2008 financial crisis imposed on Americans appears to have instilled long-term changes in behavior on money matters. That’s according to survey findings released by Fidelity Investments, the nation’s second largest mutual fund company.
Findings from the “Five Years After” survey of nearly 1,200 investors suggest that spendthrift ways are unlikely to again become as pervasive as they were before the crisis. Positive behavior that appears to be entrenched include saving more, paying down debt and taking greater care to invest wisely.
Mortgage applications in the U.S. declined last week as fewer Americans refinanced.
The Mortgage Bankers Association’s index dropped 4 percent in the week ending March 29 after a 7.7 percent gain the prior week, the Washington-based group reported. The refinance gauge fell 5.6 percent while the purchase index rose 1.4 percent.