10 things you need to know today: May 17, 2014

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(Image credit: (AP Photo/Marko Drobnjakovic))

1. GM to pay record $35 million fine following ignition switch recalls

General Motors' 10-year delay in recalling vehicles with faulty ignition switches cost the company $35 million in a record settlement, the Department of Transportation announced on Friday. GM employees knew about the defect as early as 2004, but the company failed to recall nearly 2.6 million vehicles until February of this year. The faulty ignition switches could shut off while driving, disabling airbags and even anti-lock brakes and power steering; the problem reportedly led to the deaths of at least 13 people.

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Sarah Eberspacher is an associate editor at TheWeek.com. She has previously worked as a sports reporter at The Livingston County Daily Press & Argus and The Arizona Republic. She graduated from Northwestern University's Medill School of Journalism.