INSIGHT-After bruising safety crisis, US car watchdog shows its bite Having taken the helm of the National Highway Traffic Safety Administration in January, Mark Rosekind has wasted no time in forcing reluctant companies into recalling millions of defective vehicles. In the past week alone, the agency announced the biggest recall in history, involving nearly 34 million vehicles with potentially deadly Takata Corp air bags.
| By: David Morgan
Pacific free-trade talks "in the end-game" - US trade official BORACAY, Philippines, May 24- The United States is optimistic a deal to set up a free trade zone across the Pacific will be concluded soon, with sensitive issues likely to be ironed out when its Congress resumes sessions, the top U.S. trade official said on Sunday. The 12- nation Trans-Pacific Partnership, which will cover about 40 percent of the world's economies,...
| By: Rosemarie Francisco
Automakers to reveal models covered by wider air bag recall DETROIT- Eleven automakers are expected next week to reveal which models are being added to a massive recall of air bags made by Takata Corp.. On Tuesday, the U.S. National Highway Traffic Safety Administration announced a deal with Takata to declare millions of its air bag inflators defective and expand the recall from 17 million to 33.8 million.
Source: The Associated Press
| By: By TOM KRISHER, AP Auto Writer
IMF to BOJ: You are too optimistic on Japan The International Monetary Fund warned the Bank of Japan will take longer than it expects to hit its inflation target even with more monetary easing, and said "bolder" reforms are required.
Japan pledges climate change aid to Pacific island nations TOKYO- Japan pledged Saturday 55 billion yen in aid to Pacific island nations that are battling rising sea levels and natural calamities as a result of global warming. Prime Minister Shinzo Abe made the pledge at a two-day meeting with the island nations' leaders in Iwaki in northern Japan. Japan will also help with expert exchanges and training.
Source: The Associated Press
DIARY- Top Economic Events to June 4 SINTRA, Portugal- European Central Bank board member Vitor Constancio chairs session 2 on "Structural Perspectives on European Employment, Productivity, and Growth in a Global Context" at an ECB forum on Central Banking "Inflation and Unemployment in Europe"- 0800 GMT. SINTRA, Portugal- Federal Reserve Vice Chair Stanley Fischer participates in a panel...
As ethanol boom fades, ADM sees bright future for corn in grocery aisle CHICAGO, May 22- The world's largest corn processor, Archer Daniels Midland Co, is shifting focus from its long-standing cash generator ethanol into developing new food ingredients as the biofuel boom that underpinned its financial success has cooled. "Coming up with new products is really what keeps us up at night," said Chris Cuddy, president of corn processing.
| By: Karl Plume
Apple's new plans for TV Apple is reportedly working on getting live programming from local TV stations onto its Apple TV. Insight, with Dawn Chmielewski, Re/code senior editor.