Business Headlines
Stocks climb on hopes for Greece debt assistance
AP - TUESDAY, FEBRUARY 9, 2010 11:23 A.M.
NEW YORK (AP) -- The Dow Jones industrial average jumped back above 10,000 on hope that the European Union will help Greece manage its growing debt burden....
Can Toyota Recover Its Reputation For Quality?
NPR - TUESDAY, FEBRUARY 9, 2010 11:20 A.M.
The Japanese automaker has stumbled badly in managing its current recall crisis. It's been accused of withholding information, changing its story and being less than aggressive in dealing with the various problems. Assuming the automaker can solve its problems, regaining public trust could take years.
Obama speaks hopefully of movement on jobs bill
AP - TUESDAY, FEBRUARY 9, 2010 11:07 A.M.
WASHINGTON (AP) -- President Barack Obama says he doesn't think it's necessary to get an ideal jobs package out of Congress, but that passing something quickly could build momentum toward greater achievements....
Google's e-mail gets social in Facebook face-off
AP - TUESDAY, FEBRUARY 9, 2010 11:01 A.M.
MOUNTAIN VIEW, Calif. (AP) -- Google is making it easier to socialize on its e-mail service. It's unveiling a new "Google Buzz" feature that sets up a face-off with Facebook....
Obama: GOP and Dems together can spur job growth
AP - TUESDAY, FEBRUARY 9, 2010 10:57 A.M.
WASHINGTON (AP) -- Appealing for bipartisanship in a town where it's lacking, President Barack Obama sat down with Democrats and Republicans Tuesday to spur cooperation on job creation, deficit reduction and health care overhaul. He promised to do his part - but warned he would take Republicans to task if they don't do the same....
Obama says energy policy must some old, some new
AP - TUESDAY, FEBRUARY 9, 2010 10:55 A.M.
WASHINGTON (AP) -- President Barack Obama says the country must develop cleaner energy technologies while at the same time still relying upon traditional power sources like nuclear and coal....
Job openings plunged by one-quarter last year
AP - TUESDAY, FEBRUARY 9, 2010 10:36 A.M.
WASHINGTON (AP) -- Finding a job got much tougher last year, as the number of available openings fell by nearly one quarter....
GOP wary of pitfalls in Obama's health care summit
AP - TUESDAY, FEBRUARY 9, 2010 10:28 A.M.
WASHINGTON (AP) -- Republican leaders expressed renewed skepticism Tuesday about President Barack Obama's call for a bipartisan forum on health care, raising questions about how much can be achieved at the televised event later this month....
State Farm says it warned NHTSA on Toyota in 2007
AP - TUESDAY, FEBRUARY 9, 2010 10:13 A.M.
WASHINGTON (AP) -- The nation's largest auto insurer said Tuesday it alerted federal safety regulators in late 2007 about a rise in reports of unexpected acceleration in Toyota vehicles, the latest warning sign to emerge about the massive recall....
McDonald's sales figure rises 2.6 percent in Jan.
AP - TUESDAY, FEBRUARY 9, 2010 10:11 A.M.
NEW YORK (AP) -- McDonald's Inc., the world's largest fast-food chain, said Tuesday a key sales comparison rose 2.6 percent in January, as strong overseas sales more than offset a decline in the U.S....
Japan Airlines rejects Delta, stays with American
AP - TUESDAY, FEBRUARY 9, 2010 9:26 A.M.
TOKYO (AP) -- Japan Airlines, wooed for months by Delta Air Lines with promises of cash and global reach, spurned the world's biggest carrier and opted to keep its alliance with American Airlines....
Germany loses top exporter crown to China
AP - TUESDAY, FEBRUARY 9, 2010 9:16 A.M.
BERLIN (AP) -- Germany's multi-year reign as the world's No. 1 exporter is officially over, with the crown formally passing to rising Asian power China after new figures showed that German exports slid by nearly a fifth in 2009, the biggest decline in 60 years....
Another winter blast helps boost heating oil price
AP - TUESDAY, FEBRUARY 9, 2010 9:03 A.M.
Heating oil prices got a boost Tuesday as the second powerful storm in four days threatened to dump more than a foot of snow on the East Coast....
Europe searches for way out of debt crisis
AP - TUESDAY, FEBRUARY 9, 2010 8:45 A.M.
BRUSSELS (AP) -- The euro is under siege - and the next few days will be crucial....
Toyota recalls 437,000 Priuses, hybrids globally
AP - TUESDAY, FEBRUARY 9, 2010 8:41 A.M.
TOKYO (AP) -- Toyota is recalling 437,000 Prius and other hybrid vehicles worldwide to fix brake problems - the latest embarrassing safety lapse at the world's largest automaker....
FDA aims to rein in radiation-based medical scans
AP - TUESDAY, FEBRUARY 9, 2010 8:29 A.M.
WASHINGTON (AP) -- The Food and Drug Administration said Tuesday it will work with doctors and manufacturers to reduce unnecessary radiation exposure from medical scans, a problem that has been growing for decades....
SAS to raise cash, cut 700 jobs after Q4 loss
AP - TUESDAY, FEBRUARY 9, 2010 8:21 A.M.
STOCKHOLM (AP) -- SAS stocks nosedived Tuesday after the Scandinavian airline group posted a fourth-quarter loss and asked shareholders for 5 billion kronor ($670 million) to help repair its ailing finances....
India halts genetically modified eggplant release
AP - TUESDAY, FEBRUARY 9, 2010 8:08 A.M.
MUMBAI, India (AP) -- India halted the release of the world's first genetically modified eggplant Tuesday, saying further study needed to be done to guarantee consumer safety before it could be cultivated in the country....
Greece vows pension, wage reform as strike looms
AP - TUESDAY, FEBRUARY 9, 2010 7:54 A.M.
ATHENS, Greece (AP) -- Greek officials pledged Tuesday to increase the retirement age, raise fuel taxes and accelerate reforms, trying to calm financial markets a day before a nationwide strike against the government's new austerity measures....
Online ad improvement seen in IAC's 4Q loss
AP - TUESDAY, FEBRUARY 9, 2010 7:40 A.M.
SAN FRANCISCO (AP) -- Internet company IAC/InterActiveCorp lost $1 billion in the fourth quarter because it wrote down the value of its search business, but the results beat expectations and offered the latest indication that the online advertising market is improving....
Wholesale inventories cut 0.8 percent in December
AP - TUESDAY, FEBRUARY 9, 2010 7:38 A.M.
WASHINGTON (AP) -- Businesses slashed wholesale inventories sharply in December, a much weaker showing than expected and a troubling sign that companies are still too pessimistic about the economy to begin restocking shelves on a sustained basis....
With Nelson, GOP blocks Obama labor board nominee
AP - TUESDAY, FEBRUARY 9, 2010 7:17 A.M.
WASHINGTON (AP) -- Senate Democrats are unable to muscle through President Barack Obama's choice of a union attorney for the National Labor Relations Board, because one of their own has joined the Republicans to block the nomination....
UBS makes Q4 profit, but withdrawals continue
AP - TUESDAY, FEBRUARY 9, 2010 7:02 A.M.
GENEVA (AP) -- Swiss bank UBS AG posted a fourth-quarter profit of 1.205 billion Swiss francs ($1.12 billion) Tuesday, beating analysts' expectations partly thanks to a tax credit, but said earnings suffered from rich clients withdrawing more money....
Strong overseas sales put fizz in Coca-Cola's 4Q
AP - TUESDAY, FEBRUARY 9, 2010 6:52 A.M.
NEW YORK (AP) -- Coca-Cola's strong overseas growth more than made up for a weak North American market in the fourth quarter, sending profit up 55 percent for the world's largest beverage maker....
IMF, Serbia discuss access to loan
AP - TUESDAY, FEBRUARY 9, 2010 5:57 A.M.
BELGRADE, Serbia (AP) -- An International Monetary Fund delegation opened talks with Serbia Tuesday to review whether the crisis-stricken country is adhering to the terms of a euro2.9 billion ($3.97 billion) standby loan....
Pulte Homes posts loss for Q4
AP - TUESDAY, FEBRUARY 9, 2010 5:43 A.M.
BLOOMFIELD HILLS, Mich. (AP) -- Pulte Homes Inc. said Tuesday its loss narrowed in its fourth quarter, as the homebuilder reported heavy charges that were partly offset by a tax gain....
Faulty elevator to blame for Dubai tower shutdown
AP - TUESDAY, FEBRUARY 9, 2010 5:35 A.M.
DUBAI, United Arab Emirates (AP) -- A faulty elevator was behind the shutdown of the observation deck on the world's tallest tower that effectively closed the half-mile-high Burj Khalifa to the public, witnesses and a Dubai rescue official said Tuesday....
Opel asks for billions in restructuring plan
AP - TUESDAY, FEBRUARY 9, 2010 5:25 A.M.
FRANKFURT (AP) -- General Motors Co.'s Opel unit asked European governments for billions of euros (dollars) in aid on Tuesday as it formally presented a restructuring plan that will result in some 8,300 job cuts....
Nissan Returns To Profit In 3rd Quarter
NPR - TUESDAY, FEBRUARY 9, 2010 4 A.M.
Nissan announced that it had turned a profit during the last fiscal quarter. That news has improved Nissan's financial outlook for the rest of the year. The company had projected that it would lose money.
Super Bowl Beer Ad Benefits Chicago Business
NPR - TUESDAY, FEBRUARY 9, 2010 4 A.M.
Miller High Life used its Super Bowl ad-buy this past Sunday to shine a light on some small businesses across the U.S. Tim's Baseball Card Shop on Chicago's North Side was one of them. The response has been overwhelming.
Mortgage Bankers Assoc. Renting Office Space
NPR - TUESDAY, FEBRUARY 9, 2010 4 A.M.
The Mortgage Bankers Association paid nearly $80 million for a building in Washington D.C. That was at the top of the market. Last week, the association agreed to sell the building for about half that. The Wall Street Journal reports that the trade group is now looking to rent office space.
Nissan returns to profit in Oct-Dec quarter
AP - TUESDAY, FEBRUARY 9, 2010 3:34 A.M.
TOKYO (AP) -- Japanese carmaker Nissan Motor Co. said Tuesday it booked a profit in the October-December quarter after a deep loss a year earlier, and now expects to be in the black for the full fiscal year....
NYSE Euronext returns to profit in 4th quarter
AP - TUESDAY, FEBRUARY 9, 2010 3:01 A.M.
PARIS (AP) -- NYSE Euronext, the trans-Atlantic stock exchange operator, said Tuesday it returned to profit in the fourth quarter as cost-cutting helped offset a drop in revenue amid falling global share trading volumes....
Ryanair to put $140 million in Lithuanian hub
AP - TUESDAY, FEBRUARY 9, 2010 2:48 A.M.
VILNIUS, Lithuania (AP) -- Budget airline Ryanair will establish a major hub in the Lithuanian city of Kaunas, its first in Central and Eastern Europe, the company's chief executive announced Tuesday....
European stocks up cautiously on hopes for Greece
AP - TUESDAY, FEBRUARY 9, 2010 2:47 A.M.
LONDON (AP) -- European stocks rose cautiously Tuesday on hopes that EU officials will provide Greece with some form of support to handle its mountain of debt and keep the market crisis from spreading to other vulnerable countries....
UK retail sales rise 1.2 pct in January
AP - TUESDAY, FEBRUARY 9, 2010 2:26 A.M.
LONDON (AP) -- Britain's struggling economy showed more lackluster indicators Tuesday, with imports rising faster than exports in December despite the falling value of its currency and retailers reporting a slow start to the year....
Officials ask Anthem to justify rate hike in Calif
AP - TUESDAY, FEBRUARY 9, 2010 1:19 A.M.
LOS ANGELES (AP) -- Over the past 12 years, Josh Libresco's health insurance premium has increased almost eight-fold for his family of four....
Toyota to recall over 50,000 Prius in Europe
AP - TUESDAY, FEBRUARY 9, 2010 12:03 A.M.
BRUSSELS (AP) -- Toyota Motor Corp. said Tuesday it is recalling some 50,000 Prius cars in Europe to modify the software for the anti-lock brake system, part of a wider global recall and the latest in a string of embarrassing safety lapses at the world's largest automaker....
For Telecommuters, It's Not About Going To Work
NPR - TUESDAY, FEBRUARY 9, 2010 MIDNIGHT
Some companies have no traditional office at all — and they like it that way. At one multimillion-dollar company, all 40 employees telecommute. The firm weeds out job applicants who look down on working from home.
Safety Risks At Regional Airlines Detailed By PBS
NPR - TUESDAY, FEBRUARY 9, 2010 MIDNIGHT
The crash of Continental Flight 3407 last February — in which 50 deaths were attributed to pilot error — sparked an inquiry that found safety problems. Among them: long hours and low pay at regional carriers, where some pilots become captains with less than a year of experience.
Boeing's 747-8 freighter completes first flight
AP - MONDAY, FEBRUARY 8, 2010 8:03 P.M.
EVERETT, Wash. (AP) -- Boeing Co.'s giant 747-8 freighter - the biggest plane the company has ever built - successfully completed its first flight Monday, a year later than originally planned....
Criminal probe is launched in Conn. plant blast
AP - MONDAY, FEBRUARY 8, 2010 6:22 P.M.
MIDDLETOWN, Conn. (AP) -- Authorities launched a criminal investigation Monday into the cause of an explosion that killed five people at a power plant under construction, saying they couldn't rule out negligence....
Super Bowl is most watched TV show ever
AP - MONDAY, FEBRUARY 8, 2010 6:06 P.M.
NEW YORK (AP) -- The New Orleans Saints' victory over Indianapolis in the Super Bowl was watched by more than 106 million people, surpassing the 1983 finale of "M-A-S-H" to become the most-watched program in U.S. television history, the Nielsen Co. said Monday....
Still no word from Toyota on Prius recall
AP - MONDAY, FEBRUARY 8, 2010 5:26 P.M.
TOKYO (AP) -- Toyota is close to recalling as many as 300,000 of its popular Prius hybrids over brake problems, according to Japanese media - a decision that would further embarrass a trusted brand suddenly beset by safety problems....
Electronic Arts shares dive on weak outlook
AP - MONDAY, FEBRUARY 8, 2010 4:05 P.M.
NEW YORK (AP) -- A disappointing outlook from Electronic Arts Inc. sent shares of the video game publisher sharply lower Monday, a sign that significant cost-cuts and layoffs have not ended the company's slump....
AstraZeneca gets OK for expanded Crestor use
AP - MONDAY, FEBRUARY 8, 2010 4:02 P.M.
WASHINGTON (AP) -- Federal regulators have granted AstraZeneca approval to market its cholesterol pill Crestor as a preventive measure against heart attack and stroke in patients with healthy cholesterol levels....
Judge promises to rule on SEC, BofA settlement
AP - MONDAY, FEBRUARY 8, 2010 3:34 P.M.
NEW YORK (AP) -- A judge promised Monday to decide by the end of next week whether to approve a $150 million settlement between the Securities and Exchange Commission and Bank of America over civil charges alleging the bank misled shareholders when it acquired Merrill Lynch....
Ex-Intel executive pleads guilty in NYC to fraud
AP - MONDAY, FEBRUARY 8, 2010 1:55 P.M.
NEW YORK (AP) -- A former Intel executive pleaded guilty Monday to charges he fed confidential information about the computer-chip maker to wealthy hedge fund manager Raj Rajaratnam, his old friend and central figure in a massive insider trading case....
CIT names ex-Merrill CEO Thain as chairman, CEO
AP - MONDAY, FEBRUARY 8, 2010 1:34 P.M.
NEW YORK (AP) -- John Thain is getting a second chance....
Transformers drive Hasbro 4Q profit increase
AP - MONDAY, FEBRUARY 8, 2010 1:01 P.M.
NEW YORK (AP) -- Strength in its boys' brands like Transformers and Nerf, along with its core game brands including Scrabble and Monopoly, should boost Hasbro's results in 2010, the company said Monday....
Chinese spy gets more than 15 years in prison
AP - MONDAY, FEBRUARY 8, 2010 12:45 P.M.
SANTA ANA, Calif. (AP) -- A Chinese-born engineer was sentenced Monday to more than 15 years in prison for hoarding sensitive information about the U.S. space shuttle that prosecutors say he intended to share with China....
SAP shares slip on CEO's ouster, questions
AP - MONDAY, FEBRUARY 8, 2010 11:21 A.M.
FRANKFURT (AP) -- German software maker SAP AG's stock slid 2.5 percent Monday, the day after CEO Leo Apotheker unexpectedly resigned and was replaced with a pair of co-chief executives....
Toyota counting on veteran at Congress hearing
AP - MONDAY, FEBRUARY 8, 2010 11:15 A.M.
Spain's Telefonica considers charging Google
AP - MONDAY, FEBRUARY 8, 2010 10:33 A.M.
MADRID (AP) -- Spanish telecoms operator Telefonica says it is considering charging Internet search companies like Google and Yahoo for network use....
GOP cool to Obama call for two-party health talks
AP - MONDAY, FEBRUARY 8, 2010 10:30 A.M.
WASHINGTON (AP) -- Republicans gave a chilly reception Monday to President Barack Obama's invitation to discuss health care in a bipartisan, televised setting later this month, part of the White House effort to revive the stalled legislation....
CVS Caremark 4Q profit grows 11 percent
AP - MONDAY, FEBRUARY 8, 2010 9:29 A.M.
NEW YORK (AP) -- CVS Caremark Corp., one of the nation's biggest drugstore operators, said Monday its profit rose 11 percent in the fourth quarter as results improved for its pharmacy benefits management business....
US magazine circulation falls 9 pct at newsstands
AP - MONDAY, FEBRUARY 8, 2010 9:03 A.M.
NEW YORK (AP) -- U.S. consumers showed less willingness to spend money for magazines at newsstands and other retail outlets as single-copy sales fell more than 9 percent in the second half of 2009....
UN patent filings dropped for 1st time since 1978
AP - MONDAY, FEBRUARY 8, 2010 7:52 A.M.
GENEVA (AP) -- The number of international patent filings dropped last year for the first time since 1978 as companies hit by the global economic downturn sought fewer new protections on their intellectual property, the U.N. said Monday....
AP analysis: US economic stress hit a peak in Dec.
AP - MONDAY, FEBRUARY 8, 2010 4:38 A.M.
Weakness in Western energy-producing states helped raise the average U.S. county's economic stress in December to its highest point since the recession began in December 2007, according to The Associated Press' monthly analysis of conditions in more than 3,100 U.S. counties....
German tax cheat gets $10M in damages from bank
AP - MONDAY, FEBRUARY 8, 2010 4:21 A.M.
VADUZ, Liechtenstein (AP) -- A court has ordered a former subsidiary of Liechtenstein's LGT bank to pay over euro7.3 million ($10 million) to a client for failing to inform him that his confidential details had been stolen and handed to authorities, thereby harming his chances of escaping criminal penalties for tax evasion....
Nokia to ax 285 jobs in Finland
AP - MONDAY, FEBRUARY 8, 2010 4:07 A.M.
HELSINKI (AP) -- Nokia Corp. said Monday it will lay off 285 people in Finland, as the world's largest mobile phone maker strives to cut costs and streamline operations....
CIT Group Names Ex-Merrill CEO Thain As Chairman
NPR - MONDAY, FEBRUARY 8, 2010 4 A.M.
CIT Group has chosen former Merrill Lynch CEO John Thain to lead the company as chairman and CEO as the commercial lender continues to restructure its business following a brief stay in bankruptcy protection last year. Thain served as chairman and CEO of Merrill Lynch until its sale to Bank of America was completed in January 2009.
Dealers Work Overtime On Toyota Recalls
NPR - MONDAY, FEBRUARY 8, 2010 4 A.M.
Toyota dealerships are making their way through a backlog of customers' cars during the massive recall involving the gas pedals on millions of cars. Toyota has said it is working on plans to resolve another possible safety problem — this one involving the anti-lock brakes on the Prius hybrid. So far, Toyota has not announced a recall on the Prius.
Businesses Reluctant To Hire New Workers
NPR - MONDAY, FEBRUARY 8, 2010 4 A.M.
The economy looks better this year than it did in 2009 but despite positive economic reports, businesses remain reluctant to hire and financial markets are still jittery. David Wessel of The Wall Street Journal tells Renee Montagne that the economy isn't growing fast enough to create enough businesses that need new workers.
Hasbro Plans 75th Anniversary Edition Of Monopoly
NPR - MONDAY, FEBRUARY 8, 2010 4 A.M.
Since the game was invented during the Great Depression, its makers have put out variations: from Sponge Bob Square Pants Monopoly to iPhone Monopoly. One big change this year, the board will be round instead of square. There will be no paper money, and instead, funds will be stored electronically.
Chinese police shut down hacker training business
AP - MONDAY, FEBRUARY 8, 2010 12:26 A.M.
BEIJING (AP) -- Police in central China have shut down a hacker training operation that openly recruited thousands of members online and provided them with cyberattack lessons and malicious software, state media said Monday....
Gas blast at Conn. power plant kills at least 5
AP - SUNDAY, FEBRUARY 7, 2010 9:57 P.M.
MIDDLETOWN, Conn. (AP) -- An explosion that sounded like a sonic boom blew out walls of an unfinished power plant and set off a fire during a test of natural gas lines Sunday, killing at least five workers and injuring a dozen or more....
Super Bowl ads: Betty White, Bud Light, big laughs
AP - SUNDAY, FEBRUARY 7, 2010 8:49 P.M.
NEW YORK (AP) -- Betty White plays football, babies talk about "milkaholics" and a house made of Bud Light cans falls slowly apart....
Toyota loses some luster in hometown over recalls
AP - SUNDAY, FEBRUARY 7, 2010 8:44 P.M.
TOYOTA, Japan (AP) -- Even in its hometown, the great automaker has lost some of its mystique....
SAP CEO resigns, replaced by 2 co-chief executives
AP - SUNDAY, FEBRUARY 7, 2010 5:01 P.M.
FRANKFURT (AP) -- The chief executive of German software company SAP AG, Leo Apotheker, has resigned after his contract was not renewed and will be succeeded by two co-CEOs, the company said Sunday....
Stock investors see threats from all directions
AP - SUNDAY, FEBRUARY 7, 2010 3:13 P.M.
NEW YORK (AP) -- The threats seem to be coming from all directions....
Financial Toll On Toyota May Get Higher
NPR - SUNDAY, FEBRUARY 7, 2010 3 P.M.
The mounting financial toll on Toyota and the recall of millions of its vehicles may get higher. Insurance companies and regulators are preparing for an onslaught of rate revisions from consumers who were in accidents and now pay higher rates.
Toyota Only Part Of Japan's Economic Woes
NPR - SUNDAY, FEBRUARY 7, 2010 3 P.M.
Toyota's problems are just a blip compared to the more systemic issues Japan's economy faces — that's what economist Robert Madsen argues. He joins host Guy Raz for a conversation about Japan's troubled economy.
Autoworkers, Analysts Weigh In From Toyota City
NPR - SUNDAY, FEBRUARY 7, 2010 3 P.M.
After recalling 8 million cars already, Toyota is expected to issue a recall notice this week for its crown jewel, the Prius. NPR's Louisa Lim went to Toyota City, the home of the Japanese auto giant, to see how autoworkers and analysts there are viewing the spate of problems. She fills in host Guy Raz on the latest.
Arctic meeting a turning point for G-7
AP - SUNDAY, FEBRUARY 7, 2010 2:37 P.M.
IQALUIT, Nunavut (AP) -- A meeting of finance officials from the Group of Seven leading industrialized countries in this tiny Arctic outpost certainly lived up to host Canada's billing as a gathering with a difference....
Geithner says US credit rating safe despite debt
AP - SUNDAY, FEBRUARY 7, 2010 12:55 P.M.
WASHINGTON (AP) -- Treasury Secretary Timothy Geithner (GYT'-nur) says the U.S. government "will never" lose its sterling credit rating despite big budget deficits and a newly increased debt limit that now tops $14 trillion....
Even if you're careful, drugs can end up in water
AP - SUNDAY, FEBRUARY 7, 2010 12:24 P.M.
PORTLAND, Maine (AP) -- The federal government advises throwing most unused or expired medications into the trash instead of down the drain, but they can end up in the water anyway, a study from Maine suggests....
Average gas prices down 5.76 cents nationwide
AP - SUNDAY, FEBRUARY 7, 2010 11:18 A.M.
CAMARILLO, Calif. (AP) -- The average price of regular gasoline in the United States fell 5.76 cents over a two-week period to $2.67....
'Dear John' bumps 'Avatar' with $32.4M debut
AP - SUNDAY, FEBRUARY 7, 2010 11:05 A.M.
LOS ANGELES (AP) -- A sci-fi love story has given way to an earthbound romance at the box office, livening up typically slow times at theaters over Super Bowl weekend....
Looking For Answers In Japan's Toyota City
NPR - SUNDAY, FEBRUARY 7, 2010 8 A.M.
The ground zero of Toyota's meltdown, a modern glass and steel building, can be found in this quiet city of 420,000. The city was already hit hard by the recession, and the spate of other problems in recent days has only added to the auto manufacturer's woes. Old-timers at Toyota say one reason for the company's current difficulties can be found in the Toyota Way, a philosophy that underpins and unites the entire company.
Finance officials work to stress economic unity
AP - SUNDAY, FEBRUARY 7, 2010 4:22 A.M.
IQALUIT, Nunavut (AP) -- Top international finance officials renewed their commitments to keep spending to support a global rebound while playing down differences over new U.S. approaches on bank reform....
Jury: Bayer must pay $1.5M to AK, MS rice farmers
AP - SUNDAY, FEBRUARY 7, 2010 2:04 A.M.
ST. LOUIS (AP) -- A federal court jury has ordered the German conglomerate Bayer CropScience to pay $1.5 million to farmers in Arkansas and Mississippi whose rice seed was contaminated with a genetically altered strain....
Polishing Toyota's Tarnished Image May Take Time
NPR - SUNDAY, FEBRUARY 7, 2010 MIDNIGHT
It can be tough to win back buyers once they've had a bad car experience. Analysts have been recommending Toyota move quickly, while its competitors are taking advantage of the company's missteps and trying to steal customers.
Toyota drivers pull in for repair; Prius fix looms
AP - SATURDAY, FEBRUARY 6, 2010 3:48 P.M.
DETROIT (AP) -- Responding to two recalls and facing the prospect of another one, Toyota dealers across the country were repairing thousands of cars Saturday, the first weekend day that many drivers had a chance to take action....
Obama, GOP sparring over job creation proposals
AP - SATURDAY, FEBRUARY 6, 2010 3:09 P.M.
WASHINGTON (AP) -- Republicans sparred with President Barack Obama in their Saturday media addresses over proposals to create jobs, further evidence of the difficulty of bipartisan solutions to the nation's pressing problems....
INSIDE WASHINGTON: Missed signs in Toyota recalls
AP - SATURDAY, FEBRUARY 6, 2010 1:21 P.M.
WASHINGTON (AP) -- When Peter Boddeart's Lexus lurched forward and rear-ended another vehicle in Fauquier County, Va., earning him a police citation, he wrote to federal regulators imploring them to look into his case "before someone ends up seriously injured or killed."...
Toyota preparing to announce Prius fix next week
AP - SATURDAY, FEBRUARY 6, 2010 12:43 P.M.
DETROIT (AP) -- Toyota has told dealers it's preparing a plan to repair the brakes on thousands of hybrid Prius cars in the U.S....
Toyota's Troubles Roll On
NPR - SATURDAY, FEBRUARY 6, 2010 8 A.M.
It's been a tough week for Toyota and Toyota owners. The company's president apologized Friday for the recall of more than 2 million of its cars for faulty gas pedals, but there could be more problems. Toyota Prius owners in the U.S. and Japan are now waiting to hear if their hybrids will be recalled for brake problems. Guest host Audie Cornish speaks with New York Times business correspondent Micheline Maynard about Toyota's recall woes.
Small Relief In Job Numbers
NPR - SATURDAY, FEBRUARY 6, 2010 8 A.M.
The January jobs report showed the economy losing 20,000 jobs, but there was some good news. The unemployment rate actually declined last month. Monthly job losses have declined sharply from a year ago, but employers are still very reluctant to hire additional workers.
WA among states weighing sale of liquor business
AP - SATURDAY, FEBRUARY 6, 2010 2:22 A.M.
SEATTLE (AP) -- Thousands of cases of whiskey, vodka and rum zip along three miles of conveyor belts inside a massive distribution center in industrial south Seattle, the sole location for shipping booze to liquor stores across Washington state....
Australian firm strikes $60B coal deal with China
AP - SATURDAY, FEBRUARY 6, 2010 1:51 A.M.
BRISBANE, Australia (AP) -- Australian company Resourcehouse Ltd. said Saturday that it has struck a $60 billion, 20-year agreement to supply coal to China Power International Development Ltd., calling it Australia's biggest export contract....
G-7 NOTEBOOK: Finance chiefs hear different tune
AP - SATURDAY, FEBRUARY 6, 2010 1:49 A.M.
IQALUIT, Nunavut (AP) -- Finance officials are taking a break in talks about the world's economic woes to listen to a different tune....
Judge: Pratt can't move jobs out of US
AP - SATURDAY, FEBRUARY 6, 2010 12:53 A.M.
HARTFORD, Conn. (AP) -- A federal U.S. judge ordered jet engine maker Pratt & Whitney to halt its plans to move 1,000 jobs out of Connecticut and to Japan, Singapore and the state of Georgia....
Macmillan books coming back to Amazon
AP - FRIDAY, FEBRUARY 5, 2010 8:46 P.M.
NEW YORK (AP) -- After a weeklong absence, new copies of Andrew Young's "The Politician," Hilary Mantel's "Wolf Hall" and other books published by Macmillan are available for purchase on Amazon.com....
Paulson Calls For More Financial Regulatory Power
NPR - FRIDAY, FEBRUARY 5, 2010 6:50 P.M.
The economy was on the verge of collapse in 2008 when the federal government stepped in to shore up the financial system. Former Treasury Secretary Henry Paulson, who was at the center of those efforts, says the government still needs better tools to prevent another crisis.
Madoff brother and sons agree to asset freeze
AP - FRIDAY, FEBRUARY 5, 2010 4:37 P.M.
NEW YORK (AP) -- Bernard Madoff's brother, sons and a niece, accused in a lawsuit of using the family finance business like a "piggy bank," have agreed to an asset freeze, according to a document filed in court Friday....
Plant in Alabama stops taking coal ash drainage
AP - FRIDAY, FEBRUARY 5, 2010 4:18 P.M.
CHATTANOOGA, Tenn. (AP) -- The Tennessee Valley Authority's cleanup of a December 2008 coal ash spill at its Kingston plant has hit a snag 500 miles away, just before the treated wastewater reaches Mobile Bay....
Goldman CEO Blankfein gets $9M stock bonus for 09
AP - FRIDAY, FEBRUARY 5, 2010 3:48 P.M.
NEW YORK (AP) -- Goldman Sachs Group Inc. CEO Lloyd Blankfein is getting a $9 million stock bonus for 2009, a modest payday by Wall Street standards that appears aimed at quelling criticism of the bank's compensation practices....
Philanthropist Vilar sentenced in NYC to 9 years
AP - FRIDAY, FEBRUARY 5, 2010 3:41 P.M.
NEW YORK (AP) -- The dramatic rise and fall of opera-loving philanthropist Alberto Vilar culminated Friday in a nine-year prison sentence from a judge who credited his giving spirit but said money managers must learn fraud leads to prison and damages confidence in the economy....
Regulators shut small Minnesota bank, 16th in 2010
AP - FRIDAY, FEBRUARY 5, 2010 3:18 P.M.
WASHINGTON (AP) -- Regulators have shut down a small bank in Minnesota, bringing to 16 the number of bank failures in the U.S. so far in 2010 following the 140 brought down last year by rising loan defaults and the recession....
