Ford to recall Fusion and Milan sedans

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Associated Press :Detroit, Dec 11 2011, 03:45 IST

Ford is recalling more than 128,000 Ford Fusion and Mercury Milan sedans from the 2010 and 2011 model years because the wheels can fall off the cars. The recall affects only cars with 17-inch steel wheels built from April 1, 2009 through April 30, 2009, and from Dec 1, 2009 through Nov 13, 2010.

Federal regulators say that bolts holding the wheels on can fracture, causing a vibration. If the vibration is ignored, the wheels can separate from the car.

Ford says it’s not aware of any crashes or injuries caused by the problem.

Dealers will replace the lug nuts on all four wheels and check the rear disc brake surface. The recall is expected to begin around January 24.

Capital infusion in SBI by March, says Chaudhuri

State Bank of India (SBI) Chairman Pratip Chaudhuri today said that the government would infuse capital into the bank by March. He said that the amount of infusion would be Rs 3,000-Rs 4,000 crore. The form in which it would be done was yet to be decided, he said.

The country's largest bank submitted proposal some months ago to raise Rs 20,000 crore through a rights issue. SBI requires Rs 20,000 crore to fund its growth plans over the next two fiscals.

The government has a 59.4 per cent stake in the bank. In case a rights issue is approved, the government would need to subscribe 59.4 per cent of the total rights being issued to maintain its holding at the current level.

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