From wire reports

U.S. Steel shakes up top; 20% of execs cut

PITTSBURGH - U.S. Steel Corp. said it has cut about 20 percent of its executive management positions, a critical part of a deal with the Steelworkers union that cinched the acquisition of bankrupt Indiana-based National Steel last month.

The country's largest integrated steel maker is doing what is required to put the company back on solid financial footing, Chairman and Chief Executive Officer Thomas J. Usher said Thursday.

Ford matches heavy incentives of rivals

DETROIT - Ford Motor Co. announced its latest round of hefty incentives on new vehicles Thursday, following the lead of rivals General Motors Corp. and DaimlerChrysler AG's Chrysler Group as the three battle in an intense pricing war.

Ford, the world's No. 2 automaker, is offering interest-free loans for up to five years on a variety of cars and trucks as well as cash-back offers.

Mad cow disease called unlikely in Montana tie

HELENA, Mont. - A cow found to have mad cow disease in Canada is from the same herd as five bulls shipped to Montana six years ago, but it's highly unlikely any became infected, health officials said.

Ron DeHaven, a spokesman for the U.S. Agriculture Department's Animal and Plant Health Inspection Service, said the cattle would have been slaughtered after the ban on animal parts in livestock feed so it is unlikely the meat would have been fed to other cattle.

Ford headquarters gets new script logo

DEARBORN, Mich. - Ford Motor Co., in a nod to the past on its centennial, unveiled a modernized version of its signature blue oval logo on the face of its world headquarters Thursday.

The new script design will be used in advertising and on printed material such as annual reports and business cards. Ford, which marks its 100th year in business June 16, will not change the oval it uses to brand its cars and trucks.

Mortgage rates hit yet another record low

WASHINGTON - Mortgage rates around the country tumbled to new lows this week, good news for people looking to buy homes or refinance.

The average rate on a 30-year fixed-rate mortgages dropped to a record low of 5.26 percent for the week ending June 5, Freddie Mac, the mortgage giant, reported Thursday in its weekly survey.