Stocks soar...Russia using economic weapons...GM orders review of recall practices



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NEW YORK (AP) — A rally on Wall Street today has seen stocks regain all the ground they lost yesterday and the S&P 500 hit another record high. Investors expressed relief after Russian President Vladimir Putin ordered troops participating in military exercises near Ukraine to return to their bases. The S&P 500 rose 28 points, or more than 1.5 percent, to close at 1,873.91. The Dow rose 227.85 points to 16,395.88, while the Nasdaq composite rose 74.67 points to 4,351.97.

KIEV, Ukraine (AP) — Russia today cranked up the pressure on Ukraine's new government by ending discounts on its natural gas supplies. Russian President Vladimir Putin also says Ukraine owes Russia's state gas company some $2 billion. Meanwhile, the U.S. is promising $1 billion in energy subsidies, while International Monetary Fund experts are in Kiev working on a plan to stabilize the country's economy.

DETROIT (AP) — General Motors' new CEO is starting an internal review of the company's practices after an embarrassing recall of 1.6 million older small cars. Last week GM doubled the number of cars included in a global recall over faulty ignition switches that have been linked to 13 deaths. The company issued a rare apology for the slow response and admitted it knew of the problem a decade ago. CEO Mary Barra says GM's reputation will be determined by how the company handles the problem.

NEW YORK (AP) — United Airlines is cracking down on passengers with oversized carry-on bags. Employees stationed at bag sizers are sending passengers back to the ticket counter to check their luggage for a fee if it violates the limits for carry-ons. United says it wants to speed up the boarding process, but some travelers see it as a grab for more fees. To fit in the overhead bin, bags need to be 9 inches by 14 inches by 22 inches or smaller.

GREELEY, Colo. (AP) — Static electricity is suspected of sparking a massive explosion and fire at an oil and gas drilling site in northern Colorado last night. The blast north of Greeley happened as workers were pulling an oil and water mixture out of storage tanks. Fire officials say static electricity might have arced and set off the vapors. Two workers suffered minor injuries.

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The Associated Press

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