


Business briefing
U.S. OKs sale of 106 Airbus jets to Iran

The Obama administration has green-lighted the sale of more than 100 Airbus planes to Iran, officials said Tuesday. It is the latest U.S. license for commercial activity with the Islamic republic following last year's nuclear deal.
Airbus in September received a license to sell 17 planes to Tehran. Two U.S. officials with knowledge of the matter said the European manufacturer got permission Monday to export 106 more. The officials weren't authorized to speak publicly on the matter and demanded anonymity.
Airbus needs Treasury Department approval because at least 10 percent of the plane's components are American-made. Hoping to replace its aging fleet of 1970s U.S. aircraft, Iran has agreed to purchase tens of billions of dollars' worth of planes from Airbus and Boeing Co.
But both deals rest on precarious ground. President-elect Donald Trump has threatened to re-negotiate President Barack Obama's signature foreign policy achievement, the seven-nation deal that imposed strict limits on Iran's nuclear activity in exchange for the end of many sanctions.
And last week, the Republican-led House moved decisively to bar the sale of commercial aircraft to Iran. The bill must now clear the Senate.
Kia recalls 72,000 Sportage SUVs
Kia is telling owners of nearly 72,000 older SUVs in the U.S. to park them outside because an electrical short in a computer can cause engine fires.
The automaker is making the statement as it recalls Sportage models from 2008 and 2009.
In documents posted Tuesday by the National Highway Traffic Safety Administration, Kia says that water containing road salt can get into a braking control computer. That can cause wiring connectors to rust and a circuit board to short, possibly sparking a fire.
The problem was discovered after a 2008 Sportage caught fire while parked in a driveway in April. The documents show that Kia received a total of nine complaints. No crashes or injuries were reported.
The Dow Jones industrial average surpassed 19,000 for the first time Tuesday as a post-election rally drove indexes further into record territory.
Discount store chains made large gains, but health care companies tumbled.
The Dow picked up 67.18 points, or 0.4 percent, to 19,023.87. The Standard & Poor's 500 index added 4.76 points, or 0.2 percent, to 2,202.94. The Nasdaq composite gained 17.49 points, or 0.3 percent, to 5,386.35.
The Russell 2000 index, which tracks smaller companies, continued to set records as it traded higher for the 13th day in a row. It jumped 0.9 percent.
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