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Latest Business News

Toyota recalls 437,000 Priuses, hybrids globally (AP) -

In this June 5, 2009 photo, workers give the final check on newly assembled new 2010 Prius hybrid vehicles at Toyota Tsutsumi Plant in Toyota, central Japan. Toyota Motor Corp. is recalling nearly 200,000 of its signature Prius green cars in Japan for braking problems, the latest in a string of embarrassing safety lapses at the world's largest automaker. Toyota president Akio Toyoda will hold a news conference at the automaker's Tokyo office later Tuesday, Feb. 9, 2010 to outline details of the braking problem, including plans for a possible recall in the U.S., a company official told The Associated Press. (AP Photo/Shizuo Kambayashi)AP - Toyota says it is recalling about 437,000 Prius and other hybrid vehicles worldwide to fix brake problems — the latest in a string of embarrassing safety lapses at the world's largest automaker.


EU government bank says no bailout for Greece (AP) - AP - The European Union's government-backed lender says it cannot bail out Greece or any other European country that can't pay its debts.
Greece seeks pension, wage reform as strike looms (AP) - AP - Greece's government on Tuesday tackled the thorny issue of pension and wage reform, part of its plan to fight a debt crisis that has alarmed global markets, even as strikes were being planned nationwide.
Japan Airlines rejects Delta, stays with American (AP) - AP - Japan Airlines, wooed for months by Delta Air Lines with promises of cash and a broad global network, spurned the world's biggest carrier and opted to keep its alliance with American Airlines.
UBS makes Q4 profit, but withdrawals continue (AP) - AP - Swiss bank UBS AG posted a fourth-quarter profit of 1.205 billion Swiss francs ($1.12 billion) Tuesday, beating analysts' expectations partly thanks to a tax credit, but said rich clients' withdrawals had continued.
Oil above $72 in Asia amid weakening dollar (AP) -

A map of northern Europe showing the route of the planned South Stream and Nabucco gas pipelines. Serbia's state-run gas company and Russia's Gazprom on Friday founded a joint venture to manage an underground gas storage as a part of future South Stream pipeline through the Balkan republic, Beta news agency reported.(AFP/Graphic)AP - Oil prices rose above $72 a barrel Tuesday in Asia as a weakening U.S. dollar offset concerns about the strength of the global economic recovery.