Change at Chipotle
After years of touting naturally raised meat, Chipotle Mexican Grill Inc. is changing its standards to allow beef treated with antibiotics into its restaurants amid a supply shortage. The burrito seller will use meat from cattle treated with antibiotics because of an illness, which previously wasn’t permitted to be sold in its restaurants, said Chris Arnold, a spokesman for Chipotle. The company still won’t use beef from animals that had antibiotics to prevent disease and promote weight gain, he said.
Credit reporting agency TransUnion said Americans were more diligent about making timely payments on their credit cards in the second quarter. They also remained stingy about carrying higher balances. The rate of credit card payments at least 90 days overdue fell to 0.57 percent in the April-June period, down from 0.63 percent a year earlier. Average credit card debt per borrower slipped to $4,965 in the second quarter from $4,971 a year earlier.
Penny stock bust
Federal agents arrested at least three people as part of a prosecution tied to a $140 million international penny stock fraud, one of the largest in history, according to U.S. Attorney Loretta Lynch in Brooklyn. The arrests were made Tuesday in New Jersey and Florida. The men are accused of participating in a scheme to inflate the values of at least a dozen worthless stocks marketed to investors.
Hyundai is recalling about 23,000 SUVs in the U.S. and Canada because an axle can fail. The recall affects 2013 Santa Fe Sport models with front-wheel drive and 2.4-liter, four-cylinder engines. Owners are being notified by letter. Dealers will replace the axle shaft free of charge.
Toyota still tops
Toyota will not relinquish the Camry’s spot as America’s most popular car this year, a top executive told industry analysts Tuesday. Senior Vice President Bob Carter said the company will sell more than 400,000 of the midsize cars in 2013, enough to fend off a challenge from the Honda Accord and other models in the most competitive part of the U.S. auto market.
Ford Motor Co. said its Focus compact remained the top-selling car worldwide in the first quarter as sales more than doubled in China. The automaker, citing data from researcher R.L. Polk Co., said global Focus registrations rose 18 percent in the first three months of the year to 288,724. In China, Focus sales rose 153 percent to 104,065, making it the No. 1 market for the small car.
Comcast Corp., the nation’s largest cable company, is expanding the number of low-income families that can automatically qualify for its $9.95-a-month Internet access. It is also boosting download speeds on the service.