Household wealth hits record high

WASHINGTON — Fueled by higher stock and home values, Americans’ net worth reached a record high in the final three months of 2014.

Household wealth rose 1.9 percent during the October-December quarter to nearly $83 trillion, the Federal Reserve said Thursday. Stock and mutual fund portfolios gained $742 billion, while the value of Americans’ homes rose $356 billion.

The typical household didn’t benefit much, though. Most of the wealth remains concentrated among richer families. The wealthiest 10 percent of U.S. households own about 80 percent of stocks.

Honda urges owners get cars repaired

DETROIT — Honda is launching an unprecedented ad campaign urging owners to get vehicles repaired if they have been recalled to fix air bags.

The Japanese automaker will spend several million dollars on ads in 120 newspapers and 30-second radio spots in 110 markets.

It’s also sponsoring customized Facebook posts that will appear in owners’ timelines.

Egg industry buys Bacon

NEW YORK — The egg industry is ordering up a side of Kevin Bacon.

The American Egg Board said it plans to launch a print and online ad campaign this week featuring the “Footloose” actor and puns using his last name.

The campaign comes at a promising time for the egg industry, with the nation’s protein craze helping fuel sales.

Toyota to sponsor Olympic Games

TOKYO — Toyota has signed on as an Olympic sponsor in a long-term deal reportedly worth nearly $1 billion. The deal runs through the 2024 Olympics.

Toyota is the first car company ever signed up by the International Olympic Committee for its top-tier TOP sponsorship program.

By The Associated Press