Gm Recalls 300,000 Impalas Over Seat Belt Problem

The New York Yankees will co-own a new Major League Soccer team alongside Sheik Mansour bin Zayed al-Nahyan, owner of the English Manchester City soccer club, according to a report by the New York Times. The Yankees will own about one-fourth of the team, the second MLS club in the New York area after the New York Red Bulls, in a relationship that the Times said deepened over the past few weeks after billionaire Mansour and Manchester City had initially considered buying the team outright. A business…

With “Modern Family” beating “American Idol” on Wednesday night, “Scandal” tying a series high and the “Billboard Music Awards,” ABC took the top spot in week 34 of the broadcast television season in adults 18-49. The Alphabet also closed in on CBS in total viewership but was unable to overtake the season champ. ABC was first in the demo with a 2.0 rating average for the week ended Sunday, May 19, reported TVbytheNumbers. The season finale of the network’s red-hot “Scandal”…

Pathfinder Partners LLC of San Diego shelled out $16.4 million for the Copper Creek Apartments in Tempe. Phoenix Business Journal reporter Kristena Hansen wrote the 144-unit complex was sold by Equity Residential. This marks the third complex Pathfinder has either bought or partnered on for a purchase in the Phoenix area.

Intel Corp. is reorganizing its corporate structure to tackle the one area it has failed to find success: mobile. The Phoenix Business Journal reported new CEO Brian Krzanich will put several chip architecture groups under his direct supervision as the chipmaker seeks to find better entries into the world of tablets and smartphones. Intel is one of the Valley’s largest employers with a large campus in Chandler employing about 10,000 workers.

Bank of America and JPMorgan Chase & Co. said they have met their obligations under a mortgage settlement made with state and federal officials. The Los Angeles Times reported Wells Fargo & Co. also was 90 percent done. The five largest banks agreed last year to a settlement with states over bad mortgages. So far more than 600,000 borrows have been granted a total of $50.6 billion in relief. Arizona was one of the hardest hit states in the mortgage crisis.