NEW YORK, New York (CNN) - CNN's Maribel Aber has your top business and financial news on this Wednesday, March 6.
Dow closes at record high
The Dow Jones industrial average rallied to a new record high Tuesday. The Dow climbed more than 125 points to close at a record high of 14,253.77, topping the prior record set in October 2007. Earlier, the blue chip index climbed to an intraday record of 14,286.37. The S&P 500 added 15 points and finished at its highest level since October 2007 and is now only about 2% away from its record closing high.
First furlough notices go out
The first furlough notices for government employees have gone out. The Army has started sending out hundreds of letters to unions -- including on Feb. 28 and March 1 to the Aberdeen Proving Ground in Gunpowder, Md., as well as the Corps of Engineers in Walla Walla, Wash. -- warning that employees will be forced to stay at home without pay one day each week from April 22 through Sept. 21.
U.S. relaxes air travel carry-on prohibitions
The Transportation Security Administration said on Tuesday that it would allow airplane passengers to bring pocketknives, golf clubs and other sports items aboard in carry-on bags, loosening some of the restrictions created after the Sept. 11 terror attacks. The agency said the new rules, which align with international standards, would allow its security agents to "better focus their efforts on finding higher-threat items such as explosives." Box cutters and razor blades are still prohibited in carry-on bags.
VW unveils 'world's most efficient car'
Volkswagen unveiled what it is calling the "world's most fuel-efficient car" at the Geneva Motor Show in Switzerland Tuesday. Called the XL1, the car is a two-seat diesel plug-in hybrid. VW claims the car will get an estimated 261 miles per gallon with an all-electric driving range of of a little over 30 miles. Fuel economy for plug-in hybrids can vary enormously depending on how far past that all-electric range they're driven.