Briefs: Toyota exec moves to Ford Motor Co.

DETROIT -- Ford Motor Co. named a veteran executive from rival Toyota to become its new marketing chief, the automaker said Thursday. Jim Farley, 45, will join Ford in mid-November after nearly two decades at Toyota. He was most recently group vice president and general manager of Toyota Motor Sales USA's Lexus luxury division.

Countrywide cuts nearly 5,000 jobs

NEW YORK -- Countrywide Financial Corp. said Thursday it funded 44 percent fewer mortgage loans in September as it tightened lending standards, while delinquencies increased and foreclosures more than doubled. The largest U.S. mortgage lender also said it eliminated 4,935 jobs last month, leaving it with 55,932.

Lawmakers oppose split tanker deal

WASHINGTON -- Fourteen U.S. senators and 52 members of the House this week urged the Air Force to pick just one winner in a $40 billion competition for aerial refueling tankers, rather than splitting the contract. Boeing is locked in a bitter battle with Northrop Grumman and partner Airbus parent EADS to build 179 new tankers. Analysts estimate the program could be worth around $200 billion long term.

U.S. trade deficit falls with dollar

WASHINGTON -- The falling dollar led more foreigners to buy American in August, helping to push the trade deficit down to the lowest point in seven months. The Commerce Department reported the trade deficit declined to $57.6 billion in August, down 2.4 percent from the July imbalance. The improvement reflected a 0.4 percent rise in exports, which climbed to a record $138.3 billion.

BP acknowledges it lags behind peers

LONDON -- BP outlined a plan to streamline its structure, cutting the number of business units and stripping out management layers, as it admitted Thursday its poor financial performance and safety record had left it lagging behind its oil industry peers.