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Top News Links: Tuesday, Nov. 4

Hyundai, Kia slapped with $350M fine

Korean carmakers Hyundai Motor Co. and affiliate Kia Motors Corp. will pay $350 million in penalties to the U.S. government for overstating vehicles' fuel economy ratings in what officials said Thursday was the biggest settlement of its kind. Hyundai operates a manufacturing facility in Alabama. – Reuters

Vulcan Q3 exceeds Wall St. expectations

Vulcan Materials Co. today reported earnings of $66.9 million in its third quarter. The Birmingham-based company said it had profit of 50 cents per share. Earnings, adjusted for costs related to mergers and acquisitions and to account for discontinued operations, came to 54 cents per share. The results exceeded Wall Street expectations. – AP/CNBC

UAB, SRI partner to market med tech

A new partnership between UAB and Southern Research Institute could bring several new medical devices to the market each year. The Alliance for Innovative Medical Technology, or AIMTech, aims to connect UAB's biomedical engineers and clinicians with SRI's experts at bringing a device to market. AIMTech will raise help raise capital, establish small medical device companies and manage the clinical trial approval process; it won't manufacture or sell. – AL.com

Will GOP tackle housing finance reform?

With Republicans expected to strengthen their position in Washington this election, the party has an opportunity to advance its agenda for a key economic sector: the housing market. An unresolved issue from the financial meltdown is what to do about federally controlled mortgage-finance giants Fannie Mae and Freddie Mac, which together back about half of new U.S. mortgages. – MarketWatch

Samford to buy Time Inc. property

Samford University has signed a letter of intent with Time Inc. to buy the property adjacent to its campus on Lakeshore Drive. The university hopes to acquire the 28-acre property, which includes three buildings, so it can relocate its College of Health Sciences, Samford Chief Marketing Officer Betsy Holloway said. – AL.com

A tale of two gubernatorial candidates

Alabama's two gubernatorial candidates have been crisscrossing the state in recent months, meeting people they hope will vote for them Tuesday. What the two men say they're hearing from Alabamians is strikingly different. – Decatur Daily

Methvin wins Albritton Pro Bono Award

Beasley, Allen, Crow, Methvin, Portis & Miles, P.C., principal & managing attorney Thomas J. Methvin has been awarded the 2014 Harold Albritton Pro Bono Leadership Award by the Alabama State Bar. Methvin is a past president of the Alabama State Bar (2009 – 2010). – News release

McSweeney expanding custom vehicle reach

McSweeney Holdings is expanding its reach into some of the world's most dangerous places in Africa and the Middle East, delivering custom vehicles equipped with armored plating, luxury appointments and sophisticated office technology to wealthy buyers. The Trussville-based specialty vehicle manufacturer gets vehicles from manufacturers and outfits them with after-market accessories. – AL.com

Construction falls a second straight month

U.S. construction spending fell for a second straight month in September as investment in both private and public projects declined, suggesting the third-quarter growth estimate could be revised lower. Construction spending dropped 0.4 percent to an annual rate of $950.9 billion, the Commerce Department said on Monday. – Reuters

BOA downgrades Southern Company

Bank of America downgraded shares of The Southern Company from a neutral rating to an underperform rating in a research note released late last week, TheFlyOnTheWall.com reports. They currently have $46.00 target price on the stock, up from their previous target price of $43.00. – Ticker Report

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