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Business

  • $6 million ends Biomet suit
    Biomet Inc. has agreed to pay more than $6 million to resolve allegations that it paid kickbacks to encourage doctors to use its bone growth stimulators, the U.S.
  • Axle maker expands Albion footprint, jobs
    A maker of heavy duty and recreational vehicle axles will be adding up to 200 jobs at its Noble County plant early next year. Dexter Axle Co.
  • Samsung vows changes after mobile profit plunges
    SEOUL, South Korea – Samsung Electronics Co. admitted erring in its smartphone strategy and vowed Thursday to overhaul its handset lineup after profit from those devices tumbled last quarter to the lowest in more than three years.
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Briefs

Dreamliner judged safe after review

Boeing’s design and manufacture of its cutting-edge 787 jetliner is safe despite the many problems encountered since the plane’s rollout, according to a report issued jointly Wednesday by the Federal Aviation Administration and the aircraft maker.

The review concluded that the Dreamliner is soundly designed, meets its intended safety level and that the manufacturer and the FAA had effective processes in place to identify and correct issues that emerged before and after certification.

FAA Administrator Michael Huerta asked for the review after a lithium-ion battery caught fire on a 787 parked at Logan International Airport in Boston.

JPMorgan selling commodities unit

JPMorgan said Wednesday that it is selling its physical commodities business for $3.5 billion, after new regulations crimped its ability to control power plants, warehouses and oil refineries.

If approved by regulators, the deal would put the commodities business in the hands of energy and commodities trading company Mercuria Energy Group.

No boost for Cheerios after ingredients shift

Plain old Cheerios are no longer made with genetically modified ingredients, but the switch hasn’t yet translated to a boost in sales.

General Mills announced in January that it would start making its plain Cheerios without GMOs, or genetically modified organisms.

The move came after a campaign by the group Green America, which prompted fans to express their support.

On Wednesday, CEO Ken Powell said the company hasn’t detected a sales lift.

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