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U.S. probing Honda Accords for air bag problem PDF  | Print |  E-mail
Written by Associated Press   
Tuesday, 04 February 2014 10:54

DETROIT (AP) — U.S. safety regulators are investigating complaints that the side air bags on some Honda Accords can inflate when the front doors are closed.

The probe covers about 363,000 of the popular midsize cars from the 2008 model year.

The National Highway Traffic Safety Administration says 28 drivers have complained about the problem. Two people reported injuries.

Investigators will determine how often the problem happens and whether a recall is needed.

Honda says in a statement that it will cooperate with NHTSA on the probe and will continue its own review.

In many of the complaints, owners reported having to pay thousands of dollars to fix the problem. One owner reported in July that the side air bags inflated when his son closed the passenger door, causing a scrape on his right forearm.

"This is clearly a safety issue," the owner said in the complaint.


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Last Updated on Tuesday, 04 February 2014 10:56
 
Toyota profit up 5-fold on weak yen, good sales PDF  | Print |  E-mail
Written by YURI KAGEYAMA, AP Business Writer   
Tuesday, 04 February 2014 07:32

TOKYO (AP) — Toyota Motor Corp. reported a more than fivefold jump in its quarterly profit Tuesday and raised its earnings forecast, crediting a weak yen and strong sales.

Toyota's profit for the October-December quarter totaled a better-than-expected 525.4 billion yen ($5.2 billion), up dramatically from 99.9 billion yen a year earlier. Quarterly sales jumped 24 percent to 6.585 trillion yen ($64.2 billion).

Analysts polled by FactSet had expected a 437 billion yen ($4.3 billion) quarterly profit.

Toyota, the world's top selling automaker for the last two years straight, raised its profit and sales forecasts for the fiscal year ending March.

The upbeat outlook underlines a continuing recovery at Toyota, whose production was battered by a tsunami and earthquake in March 2011 in northeastern Japan.

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Cable merger future-proofs against Internet's rise PDF  | Print |  E-mail
Written by RYAN NAKASHIMA, AP Business Writer   
Tuesday, 04 February 2014 10:53

LOS ANGELES (AP) — When you buy a TV, sales clerks often pitch you on "future proofing" your set. Turns out, buying a cable TV company relies largely on the same principle.

Charter Communications Inc.'s $38 billion bid to take over the much-larger Time Warner Cable Inc. is an attempt to future-proof its business by getting its foot in the door of millions more homes wired for Internet service.

As people use more mobile devices, watch more online video and connect everything from thermostats to refrigerators to the Internet, delivering those Internet services will become increasingly valuable.

Gone are the days when one's primary reason for hooking up cable was for TV. Now, it's the Internet, which enables countless online services known collectively as the cloud — everything from movies on Netflix to backup files on Dropbox.

"Broadband is the gatekeeper to the cloud," says Tony Wible, an analyst with Janney Capital Markets. "There's insatiable demand for broadband."

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Target data breach pits banks against retailers PDF  | Print |  E-mail
Written by MARCY GORDON, AP Business Writer   
Tuesday, 04 February 2014 07:30

WASHINGTON (AP) — Banks and big retailers are locked in a debate over the breach of consumer data that gripped Target Corp. during the holiday season. At issue: Which industry bears more responsibility for protecting consumers' personal information?

The retailers' argument: Banks must upgrade the security technology for the credit and debit cards they issue.

The banks' counterargument: Newer electronic-chip technology wouldn't have prevented the Target breach. And retailers must tighten their own security systems for processing card payments.

The finger-pointing is coming from two industries with considerable lobbying might. Their trade groups have been bombarding lawmakers with letters arguing why the other industry must do more — and spend more — to protect consumers.

"Nearly every retailer security breach in recent memory has revealed some violation of industry security agreements," the Independent Community Bankers argued last month. "In some cases, retailers haven't even had technology in place to alert them to the breach intrusion, and third parties like banks have had to notify the retailers that their information has been compromised."

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