By The Associated Press
US household wealth regains pre-recession peak
WASHINGTON (AP) â¿¿ Surging stock prices and steady home-price increases have finally allowed Americans to regain the $16 trillion in wealth they lost to the Great Recession. The gains are helping to support the economy and could lead to further spending and growth.The recovered wealth â¿¿ most of it from higher stock prices â¿¿ has been flowing mainly to richer Americans. By contrast, middle class wealth is mostly in the form of home equity, which has risen much less. ___ Facebook brings a more personal touch to News Feed MENLO PARK, Calif. (AP) â¿¿ Facebook has redesigned its social network to address complaints that the News Feed on its website has turned into a jumble of monotonous musings and random photos. In an attempt to breathe new life into Facebook's News Feed, the company will introduce controls that allow people to sort streams of photos and other material into organized sections. With the makeover unveiled Thursday, Facebook CEO Mark Zuckerberg hopes to turn the News Feed into something more like a newspaper tailored to the particular interests of each of the social network's more than 1 billion worldwide users. ___ AP Interview: Toyota chief stresses safe growth TOKYO (AP) â¿¿ After four tumultuous years bookended by an unprecedented recall crisis and a return to the top of the global auto industry, Akio Toyoda is refashioning Toyota Motor Corp. into a leaner company that's more imbued with the venture spirit of founder Kiichiro Toyoda, his grandfather. In an exclusive interview with The Associated Press, Toyota's president said he is putting new auto plants on hold for three years and reshaping the automaker's structure to give more autonomy to regional divisions and foreign executives. During his four years at Toyota's helm, Toyoda has learned the hard way the costs of blindly pursuing growth, a strategy inherited from his predecessor that he ruefully acknowledges got him slammed by a cascade of recalls.
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