You have reached your limit of free articles this month.

Enjoy unlimited access to myStatesman.com

Starting at just 99¢ for 8 weeks.

GREAT REASONS TO SUBSCRIBE TODAY!

  • IN-DEPTH REPORTING
  • INTERACTIVE STORYTELLING
  • NEW TOPICS & COVERAGE
  • ePAPER
X

You have read of premium articles.

Get unlimited access to all of our breaking news, in-depth coverage and bonus content- exclusively for subscribers. Starting at just 99¢ for 8 weeks

X

Welcome to myStatesman.com

This subscriber-only site gives you exclusive access to breaking news, in-depth coverage, exclusive interactives and bonus content.

You can read free articles of your choice a month that are only available on myStatesman.com.

Business digest: Vote out most of Wells Fargo’s board, firm says


BANKING

Advisory firm: Vote out most of Wells Fargo’s board

An influential firm that advises big shareholders is saying that the majority of Wells Fargo’s board of directors should be removed at the bank’s annual shareholder meeting this month, accusing the board of having a lack of oversight over the bank’s sales practices.

Institutional Shareholder Services said Friday that Wells Fargo investors should vote against retaining 12 out of the 15 members of the bank’s board. The only members of the board ISS advises investors to vote for are the two members of the board who were elected after the sales practices scandal broke, and Tim Sloan, the recently appointed CEO.

ISS is also advising investors to vote in favor of a report on the bank’s business practices.

Wells Fargo’s annual meeting is April 25 in Jacksonville, Fla.

AUTOMOBILES

Honda recalls Accords in the U.S. to check replaced air bags

Japanese automaker Honda said Friday it was recalling 37,000 vehicles in the U.S. to check if replacement air bags contain the recalled Takata inflators that may have been installed prior to the massive Takata recalls last year.

Honda Motor Co. said the recall of the front air bag inflator of the 2003 two-door Accord doesn’t affect its vehicles in other regions. No ruptures have been reported.

The inflators made by Japanese supplier Takata Corp. are blamed in at least 16 deaths and more than 180 injuries worldwide.

The problem set off the biggest recall in U.S. automotive history, involving 42 million vehicles. Globally, the tally is more than 100 million.

The inflators can explode with too much force, sending shrapnel spewing.

The latest recall is unusual in that Honda is trying to find 2,500 inflators that were replaced during repairs, but it doesn’t know where the 2,500 inflators went, so it’s recalling all of the possibly affected vehicles so they can be checked.

RESTAURANTS

KFC to stop using chickens raised with human antibiotics

KFC said Friday that it will stop serving chickens raised with certain antibiotics.

The fried chicken chain said the change will be completed by the end of next year at its more than 4,000 restaurants in the U.S.

It is working with more than 2,000 farms around the country to stop using antibiotics important to human medicine. Antibiotics specific to animals may still be used to treat diseases in the chickens, KFC said.

Meat producers give animals antibiotics to make them grow faster and prevent illness, a practice that has become a public health issue. Officials have said that it can lead to germs becoming resistant to drugs, making antibiotics no longer effective in treating some illnesses in humans.

KFC’s rivals have already announced plans to curb their use of chickens raised with antibiotics. Chick-fil-A has said that by 2019 it will only serve chicken that has never been given any antibiotics. And McDonald’s Corp. has stopped using chickens raised with antibiotics important to human medicine for its McNuggets.

TRUCKING

U.S. probes Freightliner trucks for windshield wiper failures

U.S. safety regulators are investigating why windshield wipers can fail on almost 194,000 Freightliner big trucks.

The National Highway Traffic Safety Administration says in documents posted Friday that Freightliner maker Daimler Trucks has received four complaints, 12 reports from the field and more than 1,800 warranty claims due to the problem.

In one case a driver reported the wipers stopped working during a rain storm, causing him to lose vision and lose control of his truck.

The investigation covers Freightliner Cascadia trucks from the 2015 and 2016 model years.

The agency says it will conduct an engineering analysis on the wiper system performance. It also will study comparable vehicles. The investigation could lead to a recall.

Daimler Trucks said in a statement that it’s working with federal regulators on the investigation and that it thoroughly investigates issues that affect safety.



Reader Comments ...


Next Up in Business

Up the Ladder

Banking & finance Chase has named Marcus Kline vice president and Austin-area manager of business banking. Community The Greater Austin Hispanic Chamber of Commerce has named Luis Rodriguez president and chief executive officer. Manufacturing & retail Factory Mattress has named Sarah Johnson chief financial officer. Technology Umbel has named Mike...
Have a great workplace? Let us know

Help us spread the word about the best places to work in Austin. Nominations remain open for the American-Statesman’s 2017 Top Workplaces of Greater Austin project, with the nomination deadline extended until July 7. The project recognizes employers that stand for the best in leadership, vision, an employee-centered culture and other qualities...
If Social Security overpays you, you’re still on the hook

Suppose Social Security makes a mistake in determining your benefits. Guess what? Their mistake becomes your mistake, and they will bill you for any amount they overpaid you, even if they told you the benefits in question were yours to collect. This happened to the husband of a woman who I’ll call Dana to protect her identity. Let me call her...
‘Jenga tower’ starting to make mark on Austin’s skyline
‘Jenga tower’ starting to make mark on Austin’s skyline

This week, some Austinites might have noticed a change on the downtown skyline. Construction has progressed to the point that the Independent — nicknamed the “Jenga tower” — has started taking on elements of its defining look as the 58-story condominium project rises toward its place as the city’s tallest building...
Report: Walmart won’t make rival bid for Whole Foods
Report: Walmart won’t make rival bid for Whole Foods

A week after Amazon unveiled plans to acquire Austin-based Whole Foods Market in a deal valued at $13.7 billion, Walmart has decided it won’t put in a rival bid, according to published reports. The Bentonville, Ark.-based retail giant is one of several companies that had reportedly been looking at trying to match or beat Amazon’s $42-per-share...
More Stories