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Record highs on Wall Street ... BMW-Air Bags ... Online Retailers

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NEW YORK (AP) — The Dow Jones industrial average and the Standard & Poor's 500 index closed at record highs today as the stock market delivered its fourth gain in as many trading days. Pharmaceutical and technology stocks led the way. The Standard & Poor's 500 index gained 7.89 percent. The Dow Jones industrial average rose 154.64 and the Nasdaq composite picked up 16.04 points.

NEW YORK (AP) — BMW has agreed to demands from the government to expand a recall of driver's-side air bags to the entire U.S. The recall affects 140,000 BMW 3 Series vehicles made between January 2004 and August 2006. The company is calling its move a "voluntary improvement campaign" rather than a recall. It says no problems with BMW vehicles have been reported.

ATLANTA (AP) — FedEx, UPS and online retailers are working to avoid a repeat of the problems that occurred at the end of last year's holiday shopping season, when severe winter weather and a surge in late orders from shoppers caused delivery delays. UPS has spent $500 million this year upgrading its systems and processes and boosting the number of seasonal workers it's hired. The company expects today to be its busiest day ever, delivering more than 34 million packages.

WASHINGTON (AP) — The Food and Drug Administration granted accelerated approval today for a new drug from Bristol-Myers Squibb to treat the deadliest form of skin cancer. The agency approved Opdivo for patients with hard-to-treat melanoma that cannot be removed via surgery or has spread throughout the body. The approval was based on preliminary results showing the drug helped shrink tumors in some patients.

WASHINGTON (AP) — A French power and transportation company has agreed to pay $772 million to resolve allegations that it bribed high-ranking foreign government officials for lucrative projects. Federal prosecutors said that Alstom S.A. falsified its records and paid tens of millions of dollars in bribes for help in obtaining more than $4 billion in projects in countries including Indonesia, Saudi Arabia, Egypt and the Bahamas.

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