Archive for the ‘Business News’ Category

Toyota Motor Corp. and federal investigators probed the latest report of sudden acceleration Tuesday, a dramatic incident on a California highway that ricocheted around the Internet. A California man called 911 for help on Monday and said his blue 2008 Toyota Prius sped up to more than 90 miles per hour on Interstate 8 near San Diego before a California Highway Patrolman helped him slow the ... Full story

What recalls? Looks like the Japanese auto industry wants to get back in the game. The Toyota Motor Corp. has announced a slew of new incentives for 2010 Toyotas to get back a slice of their American market share. The new Toyota incentives came just as Ford announced a stellar sales month. Ford's February sales rocketed 43%, helping it to surpass General Motors Co. ... Full story

Lloyds Banking Group has reported an operating loss of £6.3bn for 2009, after it continued to struggle with billions of pounds of bad loans. This was a slightly smaller loss than analysts had expected and less than the £6.7bn operating loss the group made in the previous year. On a pre-tax profit basis, the group made a profit of £1bn. The group lost £24bn on bad loans, most ... Full story

On Wednesday the Bloom Energy fuel cell company unveiled their plans for Bloom Box mass production and it was praised by representatives from major companies. Gov. Arnold Schwarzenegger also praised it. They also said that it’s “almost too good to be true.” After days of speculation and hype the much anticipated Bloom Energy product launch. They are claiming that it is a major breakthrough in ... Full story

BONN—Deutsche Telekom AG said Thursday it reduced its net loss in the fourth quarter on lower charges and write-downs but gave a weaker outlook for 2010 compared with the prior year, citing current economic uncertainty. The net loss for the quarter ended Dec. 31 was €3 million ($4.1 million) compared with a net loss of €730 million in the prior year. Deutsche Telekom's fourth-quarter bottom line ... Full story

LONDON (AP) -- Government-controlled Royal Bank of Scotland Group PLC reported Thursday a loss of 3.6 billion pounds ($5.5 billion) for 2009, ahead of market forecasts, as income rose by 34 percent. The loss compared to a 24.3 billion pounds loss, a British corporate record, racked up by RBS in 2008 following the disastrous takeover of the Dutch Bank ABN Amro. Income was 31.7 billion pounds, up ... Full story

Dow Gains Over 90 After Bernanke Testimony U.S. stocks rallied Wednesday as the dollar pulled back and Fed Chairman Ben Bernanke pledged to keep rates low for a long time in his semi-annual testimony before Congress. Financials were among the top gainers. The Dow gained more than 90 points, or 0.9%, clawing back most of the 100 points it lost in the prior session's selloff. Traders shrugged off ... Full story

Plaintiffs' lawyers say the congressional hearings on Toyota Motor Corp.'s safety issues are giving them more ammunition to use in suits against the auto maker. Several lawyers who represent Toyota drivers traveled to Washington on Tuesday to watch as committee members grilled company executives about what they knew and did about complaints of sudden acceleration involving thousands of Toyota and Lexus vehicles. "Toyota all but ignored complaints ... Full story

Wal-Mart is getting into the digital video business, announcing Monday that it has agreed to acquire Santa Clara-based Vudu. The move positions Wal-Mart to compete in the emerging market to deliver movies and television shows directly to consumers' televisions via the Internet. The digital download business is poised to replace purchases and rentals of DVDs in much the same way that digital music downloads are replacing ... Full story

New York City’s Lincoln Tunnel has reopened to traffic after a crew completed emergency repairs to a pothole on a road leading from the tunnel to the New Jersey Turnpike. Emergency repairs in a bridge deck near exit 15E began around noon and were completed by about 6 p.m., said Joe Orlando, a spokesman for the New Jersey Turnpike Authority. Delays of up to a half ... Full story