AUTOMOTIVE
Cars are getting more reliable, annual survey finds
Automobiles are getting more reliable, but J.D. Power’s annual survey finds problems with battery failures, transmission shifting, and voice recognition systems. The survey found that Lexus was the most dependable brand for the eighth-straight year, but some mass-market brands cracked the top five. Porsche and Toyota tied for second, followed by Chevrolet and Buick. The worst performers were Fiat, Land Rover, Volvo, Dodge, and a tie between Ram and Acura, the survey said. J.D. Power measures problems per 100 vehicles after three years of ownership. The company collected 32,952 responses from original owners of 2016 model-year vehicles. Owners of all brands reported an average of 136 problems per 100 vehicles this year, six problems fewer than in the 2018 survey. — ASSOCIATED PRESS
CLOTHING
Levi Strauss files for a public offering
Levi Strauss & Co. filed for a public offering — a sign the iconic maker of denim pants and jackets is betting it can overcome growing competition in the apparel industry. It filed paperwork with an initial offering size of $100 million, a placeholder amount that’s used to calculate fees and will typically change. CNBC reported that the denim maker is looking to raise $600 million to $800 million. The company’s ticker would be LEVI. The company, founded in the 1800s, intends to use the proceeds from an IPO for “general corporate purposes, including working capital and capital expenditures.’’ Levi may also use the cash for “acquisitions or other strategic investments, although we do not currently have any plans to do so.’’ — BLOOMBERG NEWS
FAST FOOD
Papa John’s to offer employees full tuition for online classes
Papa John’s International Inc. is offering its employees full tuition to Purdue University’s online classes — part of the beleaguered chain’s efforts to shift the narrative away from the missteps of its founder. The benefit will be offered to both corporate employees and restaurant workers for Purdue University Global, which is the online program of the college in West Lafayette, Ind. The company estimates the benefit will cost $5,250 per person per year. Attracting and retaining workers is rapidly becoming of central importance to fast-food chains as restaurants resort to creative measures to find staff amid a very tight labor market. Papa John’s is also looking to move past 2018 — which was a year to forget as the company’s stock plummeted following reports that founder John Schnatter used a racial slur on a conference call. — BLOOMBERG NEWS
AUTOMOTIVE
Ford recalling nearly 1.5 million pickups over transmission issue
Ford is recalling nearly 1.5 million pickup trucks in North America because the transmissions can suddenly downshift into first gear. The recall covers F-150 trucks from the 2011 through 2013 model years with six-speed automatic transmissions. The company says a glitch in sending a signal from the transmission speed sensor is the cause. Ford has five reports of accidents including one that caused a whiplash injury from a sudden downshift. Owners will be notified by letter starting March 4. Dealers will update the powertrain control software to fix the problem. Ford’s F-Series pickup is the top-selling vehicle in the United States. — ASSOCIATED PRESS
HEALTH CARE
NYC nurses rally for mandated staffing levels at hospitals
Nurses from across New York City are joining together to call for new requirements mandating minimum staffing levels at hospitals. Some 15,000 nurses from 13 health care facilities in the city planned to participate in pickets and rallies Wednesday on what the New York State Nurses Association called a day of protest. The group supports legislation to meet nurse-to-patient ratios. Members also want staffing standards included in new employment contracts. A ballot referendum in Massachusetts last fall that would have dictated nursing staffing levels failed. — ASSOCIATED PRESS
TECHNOLOGY
Lawyer who oversaw insider trading policies at Apple charged with insider trading
A former senior lawyer at Apple who oversaw the company’s insider trading policies was accused of insider trading by federal prosecutors and securities regulators in complaints made public Wednesday. The Securities and Exchange Commission said in a suit that Gene Levoff, a former senior director of corporate law and a corporate secretary at Apple, repeatedly traded on inside information from 2011 to 2016. The SEC said Levoff violated insider trading laws three times from 2015 to 2016. On one occasion, Levoff sold roughly $10 million of Apple stock — nearly his entire holdings — from his personal brokerage account four days before Apple announced quarterly earnings July 21, 2015. In a related action, federal prosecutors in New Jersey charged Levoff with one count of securities fraud in a criminal complaint. — NEW YORK TIMES
SOCIAL MEDIA
Indonesian Instagram account on gay Muslims disappears
An Instagram account that published comic strips depicting the struggles of gay Muslims in Indonesia has disappeared from the site following a frenzy of moral outrage online in the world’s biggest Muslim nation. The Ministry of Communications said Wednesday that the account under the username Alpatuni was pornographic, which violated the law on information and electronic transactions. In a statement it said Instagram had ‘‘fulfilled’’ its request made in a warning letter for the account to be removed. Instagram, however, said it had not removed the account. A spokeswoman said there were a number of reasons an account may no longer be accessible including the account holder deleting it, deactivating it or changing the username. — ASSOCIATED PRESS
AUTOMOTIVE
France to invest $790m to boost production of battery cells for electric cars
France is planning to invest 700 million euros ($790 million) over the next five years to boost its production of battery cells for electric cars. Advisers to French President Emmanuel Macron said he was to make the announcement Wednesday night at a dinner of international carmakers representatives in Paris gathering for the centenary of the International Organization of Motor Vehicle Manufacturers. The German government announced last November that it has set aside around 1 billion euros ($1.1 billion) to support battery cell production. — ASSOCIATED PRESS
RETAIL
Victoria’s Secret to sell high-end French lingerie
Victoria’s Secret is partnering with a French luxury label to sell high-end lingerie as its new leader looks to expand beyond discounted bras and underwear. The struggling retailer will begin offering a line from LIVY at its flagship stores in London and New York next week, as well as on its website as of Wednesday. The lingerie features graphic-back designs and significantly higher prices, like a $350 leather bustier, a $490 embroidered kimono, and a $150 monowire bra. — BLOOMBERG NEWS
ROBOTICS
Johnson & Johnson to buy surgical robotics company for about $3.4b
Johnson & Johnson has agreed to buy surgical robotics company Auris Health Inc. for about $3.4 billion in cash, in a deal that would give the drug giant a lung cancer diagnostic and treatment tool. Under the terms of the deal, announced Wednesday, J&J could also make additional payments of up to $2.35 billion to Auris based on milestones, the people said. Auris, a closely held firm led by industry veteran Fred Moll, has developed robotic surgical scopes operated with a handheld device that are steered into patients’ lungs to identify cancerous tumors. — BLOOMBERG NEWS
