Market turmoil sends gold to record highs Gold traded at record highs as some investors and traders continued to see the metal as the best refuge from turmoil elsewhere in financial markets. Near-term gold futures closed up $4.70 to $1,244 an ounce in New York after topping $1,252 during the session. The previous closing high was $1,242.70 on May 21. In electronic trading after the official close, however, the metal pulled back to about $1,239. Gold has mostly been the anti-euro this year, rallying as the battered European currency has continued to fall in value against the dollar and other major rivals.
GM recalls 1.5 million vehicles over fire risk General Motors Co. is recalling about 1.5 million vehicles worldwide to address a problem with a heated windshield wiper fluid system that could lead to a fire. GM said it was aware of five fires but no injuries or crashes. The recall covers the 2006-2009 model year Buick Lucerne, Cadillac DTS, and Hummer H2; 2008-2009 Buick Enclave and Cadillac CTS; 2007-2009 Cadillac Escalade, Escalade ESV and Escalade EXT; 2007-2009 Chevrolet Avalanche, Silverado, Suburban and Tahoe; 2007-2009 GMC Acadia, Sierra, Yukon and Yukon XL; 2007-2009 Saturn Outlook; and 2009 Chevrolet Traverse.
McDonald's offers money for 'Shrek' glasses McDonald's is taking the unusual step of paying customers a premium to return "Shrek" drinking glasses that it has recalled because of concerns that cadmium used in the paint on the glasses could come off on children's hands. The company will pay customers $3 for every glass they return. McDonald's had been selling the glasses for $1.99 with a food purchase and $2.49 without food. It announced on Friday that it was recalling millions of the glasses, which are painted with characters from the movie "Shrek Forever After."
Job openings are highest since December '08 Job openings jumped in April to the highest level in 16 months, a sign that private employers may boost hiring in coming months. The number of jobs advertised at the end of April rose to 3.1 million from 2.8 million in March, the Labor Department said. That's the most openings since December 2008. Private employers accounted for the entire net gain. The government's advertising for jobs decreased, despite the hiring of hundreds of thousands of census workers in May.
Disney to close most ESPN Zone sports bars The Walt Disney Co. is shutting down most of its ESPN Zone stores, a chain of sports-themed restaurants, the Los Angeles Times reported, citing an unnamed source. It's unclear what prompted Disney to close the establishments, although the bars may well be a casualty of the recession. Disney operates ESPN Zones in Anaheim, Calif., Baltimore, Chicago, Las Vegas, New York City and Washington. The ESPN Zone in Anaheim is expected to remain open. Disney closed the Atlanta and Denver locations last year.
FROM NEWS SERVICES
