In brief: McGraw-Hill Education files $100 million IPO

NEW YORK – Educational content maker McGraw-Hill Education plans to go public.

Best known as a publisher of textbooks and instructional materials, the company is now investing heavily in developing digital content and technology like its “Reading Wonders” and “Economics: Principles, Problems, and Policies” programs.

It filed for an IPO that was valued at up to $100 million, according to a form filed Friday with the Securities and Exchange Commission. The $100 million figure is an estimate used for the purpose of calculating a filing fee.

The New York-based company says its programs are used by 250,000 higher education instructors and in 13,000 kindergarten to 12th-grade school districts. It also makes products for companies, academic institutions, libraries and hospitals.

The company reported $1.86 billion in revenue in 2014, and said 38 percent of revenue from its U.S. higher education business, its largest, came from digital materials. That’s up from 15 percent in 2010. Digital revenue accounted for only 21 percent of its K-12 revenue.

Toyota investing in car-tech research at Stanford, MIT

EAST PALO ALTO, Calif. – Toyota is investing $50 million with Stanford University and the Massachusetts Institute of Technology in hopes of gaining an edge in an accelerating race to phase out human drivers.

The financial commitment announced Friday will be made over the next five years at joint research centers at the schools located in Silicon Valley and another technology hub in Cambridge, Massachusetts.

Egg board may have misused power on rival

WASHINGTON – The Agriculture Department says it is looking into documents that show that an egg industry organization under government oversight tried to harm sales of an imitation mayonnaise.

According to email documents provided to the Associated Press, the American Egg Board tried to prevent Whole Foods retailers from selling Hampton Creek’s eggless Just Mayo spread.

The egg board is one of many industry promotional boards overseen by USDA but paid for by the industries themselves. By law, the boards cannot disparage other commodities.

A USDA spokesman said the department is looking into the documents but declined to say if it would take action.

The egg industry board is only the latest to draw scrutiny. In 2012, USDA’s inspector general issued a report saying the department needed to improve oversight of the programs.

Mixed employment report extends stocks’ losing streak

NEW YORK – Stocks closed lower after the latest jobs report gave investors few clues about the Federal Reserve’s next move.

It was the second-worst week for the market so far this year.

The Dow Jones industrial average lost 272 points, or 1.7 percent, to 16,102 Friday. It had been down as much as 348 earlier.

The Standard & Poor’s 500 index gave up 29 points, or 1.5 percent, to 1,921. The Nasdaq composite slipped 49 points, or 1.1 percent, to 4,683.

The government reported that the unemployment rate fell to a seven-year low in August, but also that employers added fewer jobs than forecast.

Gap fell 2 percent after reporting a drop in sales.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.13 percent.