Financial Eyes & Ears

TOKYO (AFP) – Japan’s Toyota Motor plans to boost its global production in 2010 by 17 percent to about 7.5 million units, Japanese media reported Saturday.

Back in February, President Obama penned the Recovery Act, flooding the economy with $787 billion to be spent on the nation’s health, education, energy, and infrastructure needs. Most of that money will be spent in 2010, and many small businesses are eager to get a piece of it. However, the federal contracting system remains daunting [...]

Susan Gregg Koger saw sales at her company, ModCloth, soar to $15 million in 2009. She hopes to build upon that success next year by finding a mentor with experience in fashion and by collaborating with more established businesses in her industry. “I’d like to meet other thought leaders in the e-retail space, and meet [...]

MOSCOW (AFP) – Russia’s biggest bank Sberbank said Friday it has made a proposal to General Motors seeking compensation for losses it incurred after the US auto giant dropped plans to sell its Opel unit.

PARIS (AFP) – Eurotunnel on Friday accused Eurostar staff of not following safety rules when evacuating passengers from high speed trains that broke down in the tunnel under the Channel last weekend.

BEIJING (AFP) – Chinese carmaker Geely will leave Volvo intact if it is successful in buying the Swedish brand from US auto giant Ford, the company’s top executive was quoted Friday by state media as saying.

WASHINGTON (AFP) – The US government has pledged virtually unlimited aid to mortgage finance giants Fannie Mae and Freddie Mac through 2012 to allow the government-sponsored firms to weather any new crisis.

TOKYO (AFP) – Japan’s Toyota Motor Corp. is recalling about 43,000 cars in China due to a defect that may cause engine oil to leak, a company spokesman said Friday.