Toyota recalls 2.9M SUVs for seat beltsTOKYO — Toyota said today it is recalling nearly 2.9 million sport utility vehicles, including more than 1.1 million in the U.S., because of seat belts that might fail in a crash.The recall covers RAV4 SUVS from the 2005 through 2014 model years, the RAV4 electric vehicle from 2012 through 2014, sold in North America, and the Vanguard sold in Japan from 2005-2016, the Japanese automaker said.Toyota says it’s possible the belts in both second-row window seats could come in contact with a metal seat cushion frame in a severe frontal crash.If that happens, the belts could be cut and would not restrain passengers.The company says it will add plastic covers to the metal frame at no cost to customers.

Walmart reports 8 percent declineNEW YORK — Walmart is reporting an 8 percent decline in fourth-quarter earnings as the retailer prunes its global footprint.Walmart, based in Bentonville, Ark., earned $4.57 billion, or $1.43 per share in the three-month period ended Jan. 31. That compares with $4.97 billion, or $1.53 per share, in the year ago period.On an adjusted basis, the figure was $1.49, higher than the $1.46 per share estimated by FactSet.The company’s revenue of $128.6 billion is short of the $130.5 billion that Wall Street was looking for, according to FactSet.

Apple Pay system launches in ChinaBEIJING — Apple on today launched its smartphone-based payment system in China where the electronic payments market is already dominated by an arm of e-commerce giant Alibaba.Apple said “Apple Pay” could be used by 19 banks, “numerous merchants” and app developers. Apple’s electronic payment system started in the United States in October 2014 and has since spread to Britain, Canada and Australia.