Joe LoCicero's 1990 Honda Accord recently hit 1 million miles. The damage claims inspector from Maine calls the car "True Blue." He drives a lot for work and swears the engine and transmission are original. To mark the milestone, Honda gave him a new 2012 Accord. He still drives the old one.
Federal prosecutors are set to file criminal charges Wednesday against Rajat Gupta, a board member of Goldman Sachs. He's been investigated for his ties to hedge fund manager Raj Rajaratnam, who was sentenced to 11 years in prison. Also, IBM has announced a new CEO. Virginia Rometty will be the first woman to run the 100-year-old technology company.
Earlier this year the South African government approved Walmart's takeover of Massmart, the region's largest retail chain. Now that ruling faces an appeal. Massmart gets roughly 90 percent of its products from South Africa, but opponents say Walmart's business model means that likely won't continue.
Plans are afoot to build new coal terminals on the West Coast to ship the lucrative commodity to China. But the mayor and activists in Bellingham, Wash., want to keep the city's green image and move beyond its industrial past.
On Tuesday, Texas Gov. Rick Perry unveiled his economic platform in hopes of giving a lift to his struggling presidential campaign. Perry's plan includes an optional flat tax that would let people file their returns on a form the size of a postcard.
In Wenzhou, China's entrepreneurial capital, scores of business owners have fled, with at least one committing suicide, after they could not repay loans from the city's underground banks and loan sharks. The rise of this $19 billion empire highlights flaws in China's banking system.
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