Toyota, Honda, Nissan Announce Air Bag Recall
(TOKYO) — Toyota, Honda and Nissan are recalling more than 2 million vehicles globally for an identical problem with air bags on the passenger side whose inflator may burst, sending plastic pieces flying. No injuries have been reported related to the problem. The recall for air bags made by Japan’s Takata Corp. affects other automakers, including non-Japanese manufacturers, Takata spokesman Akiko Watanabe said Thursday. She declined to give details. Toyota Motor Corp. is recalling 1.7 million vehicles, with some 580,000 in North America, another 490,000 in Europe and 320,000 in Japan. Affected models include the Corolla, Tundra, Lexus SC, produced between November 2000 and March 2004. Toyota said it had received five reports of air-bag problems, three in the U.S. and two in Japan, but there have been no injuries. Honda Motor Co. is recalling 1.1 million vehicles. About 680,000 are in North America, 270,000 in Japan and 64,000 in Europe. The models include the Civic, CR-V and Odyssey. ...
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Carnival Returns to Profit in 1st Quarter
MIAMI — The world’s largest cruise line has suffered through a series of high-profile mishaps, yet passengers continue to book vacations, albeit at a slower pace. Carnival Corp., earned $37 million, or 5 cents per share, in its first quarter. That compares with a loss of $139 million, or 18 cents per share, a year earlier. But its forecast for the year came in below analyst’s predictions. Its shares fell more than 3 percent in morning trading. The company had been offering sales to help attract passengers after an engine fire last month crippled the Carnival Triumph, leaving 4,200 people stranded for five days without working toilets or power. This week, two more of its ships had mechanical problems, ruining the vacations of thousands of more travelers. (MORE: Has the Carnival Triumph Episode Hurt Cruise Sales?) On Thursday, the company ended the voyage of the Carnival Dream after the ship’s backup emergency diesel generator failed, causing problems with elevators and toilets. Instead ...
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U.S. Investors Press for a Nortel Trial
As U.S. investors push to go to trial by the fall over how to divide Nortel Networks Corp.'s $7.3 billion pile of money, officials looking out for creditors in Canada and Europe say the international cash clash could take much longer to sort out.
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Liberty’s Virgin Deal Sets Up Media Clash Between Malone and Murdoch
Liberty Global’s $16 billion deal to buy British cable group Virgin Media will create one of the largest broadband companies in the world, and will pit Liberty mogul John Malone in a clash of the media titans against longtime rival Rupert Murdoch and his News Corp. conglomerate. The deal is further evidence that the media and tech mergers and acquisitions market is revving up to levels not seen since the financial crisis. Earlier this week computer giant Dell announced plans to go private in a $24.4 billion deal. Virgin Media is the number two pay-TV company in the U.K. behind BSkyB, which is majority controlled by News Corp., so the merger instantly pits Malone against Murdoch in the European media market. The Financial Times was first to report news of the impending deal, which is worth a total of $23 billion including debt. Virgin Group’s Richard Branson, the colorful billionaire impressario, stands to make about $316 million from the Liberty takeover. Liberty Global already ...
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Whirlpool quarterly profit tops estimates; sales miss
Whirlpool Corp reported a higher-than-expected quarterly profit on Thursday as price increases and cost cuts helped the world's largest appliance maker counter lackluster demand in Europe and North America.
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