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Briefs

Feds probe door fires in SUVs

Federal safety regulators are investigating fires in the driver’s side doors of Chevy TrailBlazers, the second such probe in a week.

The latest inquiry involves more than 309,000 TrailBlazer SUVs from the 2006 and 2007 model years. The fires began in the power window switch or related electrical parts, the National Highway Traffic Safety Administration said Monday.

The agency opened the first inquiry last week into similar problems with the 2007 Toyota Camry sedan and RAV4 small crossover SUV. The TrailBlazer investigation began Thursday.

All three of the vehicles under investigation are popular. None has been recalled.

The TrailBlazer, although phased out in the U.S. in 2009, was among GM’s top-sellers. The Camry was the best-selling car in the U.S. in 2007 and last year.

Empire State trust plans $1 billion IPO

The company that runs Manhattan’s Empire State Building is planning an initial public offering that could raise up to $1 billion.

Empire State Realty Trust Inc. owns and operates 12 properties in Manhattan and the greater New York metropolitan area.

The company didn’t say in its regulatory filing Monday how many shares might be involved in the IPO or what price they might fetch. The $1 billion amount isn’t final, either. It’s subject to investor demand.

Empire State Realty said it plans to use the offering’s net proceeds to pay certain investors, repay loans, cover the expenses of the IPO and the company’s formation last summer, and for general purposes and possible future acquisitions.

Fed delays ruling on Capital One-ING deal

The Federal Reserve delayed its decision again on Capital One’s proposed $9 billion acquisition of ING Direct.

The deal, which would create the nation’s fifth-largest bank, was debated by the Fed’s board of governors in a closed-door meeting Monday. A Fed representative said the board considered the application and “expects to issue a decision soon” but will not do so immediately.

McLean, Va.-based Capital One Financial Corp. said in June that it planned to buy the U.S. digital unit of Netherlands-based ING Group.

ING Direct has about 7.5 million customers.

U.S., EU sign off on Google’s Motorola bid

Google’s $12.5 billion acquisition of cellphone maker Motorola Mobility have won approvals from U.S. and European antitrust regulators, moving Google a major step closer to completing the biggest deal in its 13-year history.

The blessings mean Google Inc. just needs to clear a few more regulatory hurdles before it can take control of Motorola Mobility Holdings Inc. and expand into manufacturing phones, tablet computers and possibly other consumer devices.

Apple stock tops $500 after blistering profits

Apple’s stock rose above $500 for the first time Monday. It was the latest step in a rally that began more than two weeks ago, when the company reported staggering sales and profits for the holiday quarter.

Apple Inc. has been trading the position as most valuable company in the world with Exxon Mobil Corp. since last summer, but the latest rally has made it 17 percent more valuable than the oil company. Its market capitalization is now $465 billion.