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Stock Market & Financial Investment News

News Breaks
December 27, 2012
05:37 EDTTMToyota announces $1.1B economic loss settlement for recalls
Toyota Motor North America announced an agreement to resolve economic loss litigation in the U.S. related to previous recalls. If this economic loss settlement is approved, Toyota will launch a new customer-support program that will provide prospective supplemental coverage for certain vehicle components and will retrofit additional non-hybrid vehicle models subject to the floor mat recall with a free brake override system to provide an added measure of confidence. Toyota will offer cash payments to eligible customers who sold or turned-in their leased vehicles in a period during 2009-2010, as well as other specified persons, and to eligible current owners and lessees who will not be offered a free brake override system. Toyota announced that it will take a one-time, $1.1B pre-tax charge against earnings to cover the estimated costs of the economic loss settlement and possible resolution costs of civil litigation brought in California by the District Attorney of Orange County and an investigation by a multi-state group of Attorneys General stemming from previous recalls.
News For TM From The Last 14 Days
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December 19, 2014
09:24 EDTTMJohnson Controls Magna could be hurt by Toyota consolidation, says Wells Fargo
Wells Fargo beleives that Johnson Controls (JCI) and Magna (MGA) could be hurt in the intermediate term by Toyota's (TM) decision to merge the seating manufacturing operations of four of its affiliates. Wells thinks Toyota's move should make bidding for seating deals more competitive. It keeps Market Perform ratings on Johnson Controls and Magna.
December 18, 2014
18:27 EDTTMToyota to consolidate seat-making operations, Nikkei reports
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08:07 EDTTMToyota to invest $126M to expand Southeast Michigan R&D campuses
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December 15, 2014
13:16 EDTTMUAW head looking for wage hikes in new contract, Automotive News says
Veteran auto workers should get a wage increase in a new contract, while the compensation of newly hired employees should move closer to that of longer serving workers, UAW President Dennis Williams said today, according to Automotive News. Williams said he is not considering launching a strike when the auto workers' contact ends in September, the website added. Publicly traded companies in the space include Fiat S.p.A. (FIATY), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY).Reference Link
06:55 EDTTMTakata tightening restrictions on suppliers, Reuters reports
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December 11, 2014
06:30 EDTTMNissan recalling 1520,000 cars globally using Takata air bags, Reuters reports
Nissan (NSANY) is recalling 152,000 vehicles around the world that use Takata's (TKTDY) passenger site air bags, Reuters reports. The cars are being recalled after an "unusual deployment" of a Takata air bag in Japan, which also led to recalls by Toyota (TM). Reference Link
December 8, 2014
11:10 EDTTMVolkswagen sees challenging developments continuing for rest of year
Volkswagen (VLKAY) said, “The challenging developments on markets worldwide – above all in Eastern Europe and South America – will continue for the remainder of this year. The Volkswagen Passenger Cars brand handled these challenges successfully during the course of the year, but was not entirely immune to their impact.” Other publicly traded companies in the passenger automotive space include Fiat Chrysler (FCAU), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), and Toyota (TM).

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