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Business Highlights

By The Associated Press

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EU fines Microsoft $733 million for breaking Web browser pact

AMSTERDAM (AP) ⿿ The European Union has fined Microsoft ⿬561 million ($733 million) for breaking a pledge to offer personal computer users a choice of Internet browsers when they install the company's flagship Windows operating system.

The penalty imposed by the EU's executive arm, the Commission, is a first for Brussels: no company has ever failed to keep its end of a bargain with EU authorities before.

In 2009, Microsoft Corp. struck a broad settlement with the Commission to resolve disputes over the company's abuse of the dominance of Windows.

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US stocks edge up following Dow's record day

NEW YORK (AP) â¿¿ After barreling through a record the day before, the Dow Jones industrial average meandered slightly higher on Wednesday.

The Dow edged up 42.47 points, or 0.3 percent, to close at 14,296.24. An encouraging job-market report helped nudge the stock market up and pushed bond prices lower.

On Tuesday, the Dow blew past the previous all-time high it hit more than five years ago. The index of 30 big corporations has more than doubled since hitting a low during the financial crisis in March 2009.

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Former GM executive tapped for Toyota board

TOKYO (AP) â¿¿ Toyota has tapped a former executive at U.S. rival General Motors to join its board, the first time in the Japanese automaker's 76-year history that it is appointing directors from outside the company.

The appointment of Mark Hogan, effective April 1, underlines efforts at Toyota Motor Corp. to become more internationally minded, transparent and nimble in regional markets as it recovers from difficult years, including a massive recall fiasco in the U.S.

Under changes announced Wednesday by President Akio Toyoda, Toyota will set up a new division to oversee North American, European and Japanese markets and another for emerging markets.

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