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Business

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    Franklin Electric Co. Inc. today reported second-quarter earnings of $27.1 million, or 55 cents per diluted share, a 4 percent decline from the $28.1 million, or 58 cents a share, posted for the same three months of 2013.
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    The Federal Aviation Administration said Monday it is proposing a $12 million civil fine against Southwest Airlines for failing to comply with safety regulations related to repairs on Boeing 737 jetliners.
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Briefs

RadioShack will close 1,100 stores

There will soon be about 1,100 fewer places to buy batteries.

RadioShack said Tuesday that it plans to close roughly one-fifth of its U.S. locations. In Fort Wayne, the retailer has locations in Glenbrook Square and Apple Glen, on Pettit Avenue, Stellhorn Road and on Dupont Road.

The news of the closings came as the retailer reported a wider quarterly loss after a disappointing holiday season. CEO Joseph Magnacca said the closings would leave the company with more than 4,000 U.S. stores.

Feds end inquiry into Ford glitches

The federal government is closing an investigation into 1.6 million Ford vehicles that can lose engine power after Ford agreed to a software remedy.

The yearlong investigation involves Ford Escape and Mercury Mariner SUVs and Ford Fusion and Mercury Milan sedans from the 2009 through 2013 model years.

Some of these vehicles can suddenly lose power because of material buildup in the electronic throttle bodies. While the engines don’t stall, vehicle speeds can drop to as low as 5 mph. Three accidents and one injury are blamed.

US home prices rise at solid pace

U.S. home prices rose in January after three months of declines as a tight supply of properties likely supported prices despite slower sales.

Real estate data provider CoreLogic said Tuesday that prices rose 0.9 percent in January after dipping 0.1 percent in December. Over the past 12 months, home prices have risen 12 percent, the biggest year-over-year gain in more than eight years.

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