Motor City files for bankruptcy
DETROIT - Once the very symbol of American industrial might, Detroit on Thursday became the biggest U.S. city ever to file for bankruptcy, its finances ravaged and its neighborhoods hollowed out by a long, slow decline in population and auto manufacturing.
The filing, which had been feared for months, put the city on an uncertain course that could mean laying off municipal employees, selling off assets, raising fees and scaling back basic services such as trash collection and snow plowing, which have already been slashed.
Kevin Orr, a bankruptcy expert hired by the state in March to stop Detroit's fiscal free-fall, made the Chapter 9 filing in federal bankruptcy court.
Verizon to roll out installment plan
Verizon Wireless, the country's largest cellphone carrier, said Thursday it's joining AT&T and T-Mobile in providing an installment plan for its phones, aiming to satisfy customers who want to upgrade their devices faster or avoid paying the upfront cost of their phones.
The plan, dubbed Edge, will be introduced Aug. 25, and allows the buyer to spread the full retail price of the phone, without subsidies, over 24 months. A buyer who has paid off 50 percent of the cost of the phone can upgrade to a new phone after six months.
UK: Disable locator beacon on 787s
LONDON - U.K. air accident investigators recommended Thursday that aviation authorities temporarily disable a Honeywell emergency transmitter on all Boeing 787 aircraft following a fire on one of the planes last week at London's Heathrow Airport.
The Air Accidents Investigation Branch also recommended that the U.S. Federal Aviation Administration and other regulators carry out a safety review of lithium-battery powered emergency locator transmitter systems in other types of aircraft.
In a report issued Thursday, the investigators said that the greatest damage to the parked Ethiopian Airlines 787 occurred around the aircraft's Rescu406AFN emergency locator transmitter near the plane's tail.
The Associated Press