- The widening gap between haves and have-nots in much of the developed world not only raises concerns about the fraying social fabric - it's also dramatically holding back economic growth, according to a study by the Organization for Economic Cooperation and Development.
- Air bag maker Takata Corp. has agreed to declare 33.8 million of its inflator mechanisms defective, effectively doubling the number of cars and trucks that have been recalled in the U.S. so far.
- U.S. homebuilders ramped up construction in April to the fastest pace in nearly seven-and-a-half years, providing newfound momentum for an economy that has struggled in recent months.
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