GM recalls small cars for ignition failures

General Motors is recalling about 619,000 small cars in the U.S. because either a heavy key ring or a "jarring event" such as running off the road could cause the ignition to shut off and possibly prevent the air bags from deploying in a crash, the automaker said in a report posted Thursday on the National Highway Traffic Safety Administration's website. The vehicles affected by the recall are the 2007 Pontiac G5 and the 2005-07 Chevrolet Cobalt. In addition to the vehicles being recalled in the U.S., 153,000 in Canada and 6,100 in Mexico are being recalled. In a separate news release, GM said it knew of six deaths in five crashes in which the front air bags did not deploy.

Verizon offers discounts on Edge phone plans

Verizon Wireless is offering discounts of at least $10 a month for subscribers who buy their phones through the company's installment plan. Before, customers who opted for Verizon's Edge plan had essentially been paying for their phones twice — through the installments and again as part of monthly service bills that include the costs of phone subsidies that Edge customers weren't taking advantage of. The discounts announced Thursday do not fully cover the installments on high-end phones. Verizon charges about $27 a month for an iPhone 5s, for instance. By participating in Edge, customers on data plans of up to 8 gigabytes get $10 a month off, while those on higher plans get $20.

Initial jobless claims up slightly last week

The number of people seeking U.S. unemployment benefits rose 8,000 last week to 339,000, evidence that layoffs ticked up. Still, the increase wasn't enough to suggest the job market is worsening. The Labor Department said that the four week average of applications, a less volatile measure, increased 3,500 to a seasonally adjusted 336,750. The average is roughly in line with prerecession levels and suggests that, despite last week's rise, companies are cutting few jobs. Applications are a proxy for layoffs. Last week's figure may also have been pushed up by cold weather, which can cause construction firms to stop work.

Bemis agrees to sell paper packaging division

Bemis Co., a global maker of consumer product packaging with headquarters in Neenah, Wis., will sell its paper packaging division to Hood Packaging Corp., a privately held company. Bemis' paper packaging division posted 2013 sales of $160 million. The sale includes the division's facilities in Nebraska, Arkansas, Washington state and Minnesota. Terms of the agreement were not disclosed. The transaction is expected to close within weeks.

UPS boosts quarterly dividend 8 percent

UPS says it is increasing its quarterly dividend by 8 percent as a result the shipping company's improved cash flow. The Atlanta-based company said it will pay a dividend of 67 cents per share March 11 to shareholders of record as of Feb. 24. UPS said that the company generated $5.3 billion in free cash flow during 2013, allowing it to reinvest in the business and improve returns to shareholders.

FROM NEWS SERVICES