25 Feb '11, 5am

Market shrugs off latest Toyota recall

Market shrugs off latest Toyota recall

TOKYO: Shares in Toyota rose more than two per cent on Friday as investors shrugged off the automaker's latest recall of 2.3 million vehicles for a defect that could cause accelerator pedals to stick. The world's largest automaker gained in Tokyo trading after investment bank Credit Suisse upgraded the firm to "outperform" from "neutral", predicting it would manage to cut costs and boost operating profits. Toyota shares were up 2.04 per cent at 3,750 yen on the Tokyo Stock Exchange at 0419 GMT. The Japanese company on Thursday recalled 2.3 million vehicles in North America to fix floor mat and carpet defects that could jam the accelerator -- bringing its worldwide recalls to more than 12 million since late 2009. The US National Highway Traffic Safety Administration said it had asked Toyota to carry out the call-back, after a 10-month probe that ruled out problems with the ...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

Tweets

Click for the latest in beauty and fashion!

Click for the latest in beauty and fashion!

cozycot.com 24 Feb '11, 10am

In this week’s issue, we show you how a Bobbi Brown Workshop turned four of our interns into beauty maestros in a day. Aft...