Personal Finance

GM says new Corvette will get 29 mpg on highway

A high-mileage Corvette

General Motors said the new Chevrolet Corvette sports car — base price under $52,000 — will get 29 miles a gallon in highway driving. That’s easy to beat, of course, with a compact and many sedans. But the 2014 Corvette Stingray will have a 455-horsepower, 6.2-liter V-8 engine that can take the car from zero to 60 mph in less than four seconds. The higher-mileage Corvette has a seven-speed manual transmission.

Wider recall?

U.S. safety regulators are trying to figure out whether General Motors should expand its repairs under a recall of the 2012 and 2013 Chevrolet Malibu Eco, Buick LaCrosse and Buick Regal sedans. In May, GM recalled 43,000 cars because a defective generator control module could stall the engine or cause a fire. Under the recall, GM was to replace the modules in about 22,000 cars and test the remaining 21,000. But the government said there was a fire in a car that had been tested. It is looking into whether the modules should be replaced in all the cars.

Hyundai inquiry

The National Highway Traffic Safety Administration is investigating complaints that the Hyundai Santa Fe sport utility vehicle can suddenly lose power. The agency said it has two complaints that the right-front axle shaft can fail on 2013 models. The investigation covers about 50,000 vehicles. Investigators will determine whether the problem is big enough to require a recall. No injuries or crashes have been reported.

Questionable claim

Raymond Lucia Sr., a syndicated radio personality and financial advice author, was ordered to pay $50,000 for giving investors misleading information about his “Buckets of Money” wealth management strategy. Lucia falsely claimed his strategy to provide inflation-adjusted income to retirees had been empirically backtested during bear markets, according to an administrative judge who also barred Lucia from associating with any investment adviser or broker. Lucia’s San Diego firm, Raymond J. Lucia Cos., was ordered to pay $250,000 and revoked its investment adviser registration. Lucia’s attorney, Wrenn Chais, said an appeal was being considered. “We respectfully disagree with the majority of the findings of the opinion and the penalties assessed,” he said.

Suspect cheese tested

Laboratory tests conducted by the Minnesota Department of Agriculture on samples of cheeses from two retail stores have indicated the presence of listeria bacterium. But more tests are pending, and the Wisconsin maker of the cheeses — Les Frres, Petit Frre and Petit Frre with Truffles — said the source of the contamination still isn’t known. The cheeses, produced by Crave Brothers Farmstead Cheese Co. of Waterloo, Wis., have been recalled.