Markets: Eerie calm

Markets: Eerie calm

it is not clear when market sentiment can change; as in the past, it can be quite sudden.
At a turn and yet not

At a turn and yet not

RBI could be tempted to cut policy rate to support growth at its bi-monthly review.

Toyota fined $17.35 mn for delay in announcing recall

Dec 19 2012, 01:32 IST
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SummaryToyota Motor Corp has agreed to a record fine of $17.35 million for failing to report a safety defect to the US government in a timely manner. Toyota announced a recall of 1,54,036 2010 Lexus RX 350 and RX 450h vehicles in June

Toyota Motor Corp has agreed to a record fine of $17.35 million for failing to report a safety defect to the US government in a timely manner. Toyota announced a recall of 1,54,036 2010 Lexus RX 350 and RX 450h vehicles in June.

“We agreed to this settlement in order to avoid a time-consuming dispute and to focus fully on our shared commitment with NHTSA to keep drivers safe,” Ray Tanguay, chief quality officer of Toyota North America, said .

Federal law requires automakers to notify the safety agency within five business days of determining safety defect. Toyota notified a month after it acknowledged the defects.

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