Walgreens said it is moving 160,000 workers to a new health-insurance model, joining a growing list of large employers seeking to control costs by pointing employees to the private marketplace for insurance.
The U.S. Treasury has sold another block of shares in General Motors, reducing its stake to 7.3 percent as it moves toward exiting its holdings in the automaker by the end of March. The Treasury sold more than 110 million shares between May 6 and Sept. 13, raising more than $3.82 billion.
Britain’s investment authority said it has begun the privatization of the Lloyds banking group, one of several British banks bailed out during the financial crisis. It sold 6 percent of Lloyds’s shares — bringing its stake to 32.7 percent.
Federal judges upheld California’s first-in-the-nation mandate requiring fuel producers to reduce greenhouse gas emissions. The low-carbon fuel standard is part of California’s landmark global warming law, AB 32, and is meant to cut the state’s dependence on petroleum by 20 percent and account for one-tenth of the state’s goal to cut greenhouse gas emissions to 1990 levels by 2020.
Volkswagen is leaning toward building a seven-passenger crossover-utility vehicle in Chattanooga, Tenn., rather than in Mexico, a U.S. executive of the German automaker said.
Facebook chief executive Mark Zuckerberg lobbied members of Congress on immigration reform. Comprehensive reform, Zuckerberg said, is as vital to the U.S. economy as changing the rules to allow highly skilled people to work in the United States. He declined to note where he falls in the political spectrum, saying he is “pro-knowledge economy.”
All Things D, the technology Web site led by Walt Mossberg and Kara Swisher, and the Wall Street Journal are parting ways at the end of the year. Gerard Baker, the Journal’s managing editor, said both parties decided not to renew the agreement when the contract expires.
LinkedIn, owner of the world’s most popular professional-networking Web site, was sued by customers alleging it appropriated their identities for marketing the site without their consent by hacking into their external e-mail accounts and downloading contacts’ e-mail addresses.
U.S. mortgage lending increased by 38 percent last year, boosted by significant refinancing activity, with white and Asian borrowers continuing to see greater access to credit for purchases than blacks or Hispanics, regulators said. “The total number of originated loans of all types and purposes reported increased by about 2.7 million, or 38 percent, from 2011, in part because of a 54 percent increase in the number of refinancings,” the report said.
Wells Fargo plans to lay off 1,800 more employees from its mortgage department after cutting about 2,300 jobs from the same unit in August. The bank said fewer people than it expected are refinancing mortgages.
The creator of Beanie Babies stuffed animals, H. Ty Warner, has been charged with federal tax evasion for allegedly failing to report income earned in an offshore account, and he has agreed to pay a penalty of more than $53 million.