Shares of BlackBerry plunged nearly 30 percent Friday after the company posted a loss and warned of future losses despite releasing its make-or-break new smartphones this year. BlackBerry said it sold 6.8 million phones overall, including about 2.7 million new devices running the new BlackBerry 10 operating system, versus 7.8 million last year. The company said it anticipates it will generate an operating loss in the second quarter, too.
Financial firms to pay refunds to service members
U.S. Bank and Dealers' Financial Services of Lexington, Ky., agreed to refund $6.5 million to 50,000 military service members after federal regulators accused both companies of misleading borrowers about fees and costs associated with an auto loan program that targeted active-duty troops.
Diesel engine option added to Ram truck lineup
Chrysler is adding a diesel engine to its light-duty Ram pickup truck lineup. The company is promising the best fuel economy of any full-size pickup in the U.S. Chrysler spokesman Nick Cappa said the 3-liter, six-cylinder diesel engine will beat the 25 mpg the current gas-powered V-6 gets on the highway in the Ram 1500. The six-cylinder Ram is tops in the industry for highway mileage.
Chrysler recall shrinks
Chrysler has agreed to recall just over 1.5 million older Jeep SUVs in a deal reached last week with government safety regulators. The National Highway Traffic Safety Administration initially wanted the company to recall 2.7 million Jeeps due to the risk of fire in rear-end collisions. But in a compromise, the recall was limited to about 1.5 million Jeeps.
Corn stockpile lowest since 1997
Corn supplies on June 1 in the U.S. fell 12 percent to 2.76 billion bushels, the lowest since 1997 after the worst drought in more than 70 years cut production to a six-year low in 2012, the U.S. Department of Agriculture said Friday.