AUTOS

* Ford Motor Co., the world’s No. 2 auto maker, agreed to buy the 18.5% of Hertz Corp. shares it doesn’t already own for $710 million, reacquiring the stake of the largest car-rental company that it sold in an April 1997 initial public offering. The $35.50-per-share offer by Ford bettered its original October offer by 18% and is 46% more than the price of Hertz stock before Ford’s offer. Hertz, meanwhile, said Tuesday that fourth-quarter earnings fell 7.8% on slowing demand for its services and a weaker euro against the U.S. dollar. The acquisition comes as U.S. car and light truck demand slows along with signs of a slowing economy. Ford shares rose 75 cents to close at $27.13 on the New York Stock Exchange. Hertz shares fell 6 cents to close at $34.81, also on the NYSE.