Louisiana's property insurer of last resort has offered to settle a dispute over the slow handling of claims from hurricanes Katrina and Rita in 2005 for up to $80 million.

EDITORS:

SALES DRAGGIN': Car sales in the world's biggest auto market fell 24 percent in January from a year earlier. The China Association of Automobile Manufacturers said that 1.16 million passenger cars were sold in January, down from a monthly record 1.5 million a year earlier.

Wheat prices fell Thursday after the government predicted global inventories would reach a record high by summer.

Music mogul Russell Simmons wants New York's governor to pull the plug on milk from cows.

The average rate on the 30-year fixed mortgage stayed at a record low this week, providing some added incentive for those looking to buy a home or refinance.

Here are the leading candidates to succeed Alan Mulally as Ford's CEO. Mulally, 66, says he has no plans to retire. But he acknowledges that the carmaker has a succession plan for every top management position.

HOLD STEADY: Vodafone Group PLC, the world's largest mobile communications company, says revenue held steady in the final three months of 2011 as double-digit gains in India and Turkey were offset by slumps in Italy and Spain.

TAX NIP: A one-time tax hit sent profits at drinks company Diageo PLC's down 20 percent in the last six months of 2011, despite rising income following a strong performance in emerging markets.

The euro jumped to a 2-month high against the dollar Thursday after Greek leaders agreed on a cost-cutting plan that should prevent the country from defaulting on its debt.

Greece's political leaders on Thursday agreed to steep government cutbacks and economic reforms to qualify for a euro130 billion ($170 billion) bailout from other countries in Europe and around the world.

Business owners will find two new questions on their income tax forms this year:

CHINA CONNECTION: Strong sales of Mercedes luxury cars in China and the U.S. helped German automaker Daimler AG post a stronger than expected 57 percent increase in fourth quarter profits. The company made net profit of euro1.78 billion ($2.36 billion), ahead of the average forecast compiled by FactSet of euro1.30 billion.

South Africa's president announced ambitious infrastructure projects Thursday, laying out his plans for creating jobs and hope in nation harder hit than most in Africa by global recession.

The Food and Drug Administration is preparing to review the first lower-cost versions of biotech drugs, expensive medications which have never before faced generic competition.

The largest chemical conference in the Asia-Pacific region is returning to the Hawaii Convention Center in 2015.