TODAY'S BUSINESS HEADLINES

For 3rd time, bidding for MRT3 maintenance contract deferred

Maynilad, First Pacific scouting for possible projects in Southeast Asia

PSEi slips to 7,268.91 after weak imports data, concern over global economy

1Q imports contract as electronics fail to pick up

Battle heats up in postpaid business, as top 2 telcos launch new plans

Toyota expands controversial recall to two new models

InterAksyon.com means BUSINESS

CHICAGO - Toyota on Friday added two models to a controversial 2009 recall launched after floor mats became trapped under the accelerator and were linked to dozens of deaths.

Toyota's mishandling of the initial problem and other reports of sudden, unintended acceleration led to the recall of more than 12 million vehicles worldwide, a US congressional probe, more than $50 million in fines from US regulators and public apologies by its chief.

Toyota has worked hard since then to regain its once-stellar reputation for safety, even as the Japanese giant faced the impact of the economic crisis, a strong yen and the devastating 2011 quake and tsunami which shattered supply lines.

Toyota managed to regain its position as the world's No. 1 automaker in the first quarter of 2012, stealing back the lead from US giant General Motors.

Friday's recall affects 154,000 vehicles in the United States: 2010 models of the Lexus Rx 350 and the Lexus RX 450h.

"Owners of the involved vehicles will receive a safety recall notification by first class mail in early August 2012," Toyota said in a statement.

"Lexus dealers will remedy the involved vehicles at no cost to the customers."

 

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