September 14, 2012 in Business

Southwest raises fares; others follow

From Wire Reports

DALLAS – Led by Southwest Airlines, several airlines are raising prices again.

Southwest raised fares Wednesday by $10 per round trip on about 10 percent of its routes. United Airlines expanded the increase later in the day to cover most of its U.S. flights.

“We raised fares to cover the increasing cost of doing business,” United spokeswoman Megan McCarthy said Thursday.

Delta Air Lines said it matched United’s price hike. American Airlines said that it raised prices on some routes, US Airways and JetBlue Airways said they matched Southwest’s increase, and Virgin America eventually matched the broader United increase.

BofA to settle claims it discriminated

WASHINGTON – Bank of America has agreed to settle allegations by the government that the financial institution discriminated against mortgage loan applicants with disabilities by asking them to provide medical information from a doctor.

The Justice Department said that in asking for the information, the bank violated the Fair Housing Act and the Equal Credit Opportunity Act on the basis of disability.

In an effort to identify victims, Bank of America will hire an administrator to search 25,000 loan applications involving income from Social Security Disability Insurance.

The bank says it will pay $1,000, $2,500 or $5,000 to eligible mortgage loan applicants who were asked to provide a letter from their doctor to document the income they received from SSDI.

Canada autoworkers propose wage cuts

TORONTO – The Canadian Auto Workers union has proposed wage cuts for new employees at Detroit’s three big automakers in the hopes of averting a strike next week, the union’s secretary-treasurer said Thursday.

Peter Kennedy also warned, however, that the union may strike General Motors, Chrysler and Ford if negotiations fail. He said the union will decide which ones to target as the strike deadline, just before midnight Monday, approaches.

At stake is the future of Canada’s auto industry. Auto companies have said Canada is now the most expensive place in the world to make cars and trucks, and they say they could move production south if the CAW doesn’t cut costs.

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