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Byline: - Staff and Wire Services

Blue Cross pays docs $72 million

THOUSAND OAKS - Blue Cross of California paid out $72 million this year in bonus incentives to 196 physician groups that met its quality goals, the insurer reported Thursday. The company assesses doctors, measuring health improvement and patient satisfaction, as well as performance treating chronic illness. In Southern California, Facey Medical Group of Los Angeles received the top grade.

Schwab scuttles talk of takeover

SAN FRANCISCO - Charles Schwab Corp. reiterated it's not for sale after the company's stock soared to a 52-week high Thursday as investors bet the discount stock brokerage pioneer would be swept up in a wave of industry takeovers.

Schwab's shares surged 15 percent to $13.80 on the New York Stock Exchange before the San Francisco-based company issued a statement vowing to remain independent. After Schwab shot down the takeover talk, the company's shares rose 70 cents, or 5.8 percent, to close Thursday at $12.68.

VW, Toyota, Ford order auto recalls

DETROIT - Volkswagen AG is recalling nearly 40,000 Jetta sedans in the United States because fuel could leak and start a fire, federal safety regulators said Thursday.

The National Highway Traffic Safety Administration also announced two additional recalls Thursday.

Jettas from the 2005 model year are involved in the recall. NHTSA said a fuel supply line clamp may not be properly positioned, which could lead to a leak.

Volkswagen said it knows of no deaths or injuries related to the defect, which was reported to the company by a small number of owners.

Ford Motor Co. is recalling the 2006 Ford Expedition and 2006 Lincoln Navigator because the left-side tires may have tread damage caused by a sharp piece of steel they may have encountered during manufacturing. There are 10,061 vehicles involved in that recall, NHTSA said.

Toyota Motor Corp. is recalling 11,592 Tacoma pickup trucks from the 2005 model year that have bench seats. NHTSA said the seat-belt buckle sensor may not function as designed, which could cause the air bag to deploy improperly in a crash.

Owners will be notified of the recalls this month. Dealers will repair the defective parts for free.

Mortgage rates rise, but still low

WASHINGTON - Mortgage rates around the country rose this week but remain at a level that should continue to support the buoyant housing market.

In its weekly survey, mortgage giant Freddie Mac reported Thursday that for the week ending July 7, rates on 30-year, fixed-rate mortgages increased to 5.62 percent, up from last week's 5.53 percent.

GM stocks near junk-bond status

NEW YORK - Moody's Investors Service on Thursday said it is reviewing a possible downgrade of General Motors Corp. debt to junk status, citing concern about the cost of escalating incentives, a consumer shift to more fuel-efficient vehicles and long-term pressure on U.S. market share.

Moody's rates GM bonds at a ``Baa3'', its lowest investment grade rating. General Motors Acceptance Corp., the auto company's financing division, is also being looked at for a downgrade. GMAC is rated at ``Baa2.''

General Motors, the world's largest maker of cars and trucks, posted a 41 percent sales increase in June, thanks in part to its ``Employee Discount'' promotion. The credit rating agency said this promotion - which offers its employee discount to consumers - might make it more difficult on profit margins.

NASD claims filed against E. Jones

DALLAS - A Dallas law firm said Thursday it has filed the first of some 60 claims with the National Association of Securities Dealers against Edward Jones for failing to inform customers about preferred selling agreements between the firm and a group of mutual funds.

The law firm, Burg, Simpson, said the losses per customer range from $1,000 to $300,000. The claim says that 95 percent of Edward Jones mutual fund sales involved just seven fund families although it has selling agreements with 240 fund families.