A House panel on Thursday planned to examine the National Highway Traffic Safety Administrations oversight of the auto industry in the latest congressional hearing linked to Toyotas recall of more than 8 million vehicles worldwide. Safety groups have accused NHTSA of being too cozy with the Japanese automaker while lacking the resources to test for vehicle problems that could be electronic, not mechanical.
“NHTSA has been viewed by the motor vehicle industry for years as a lapdog, not a watchdog,” Joan Claybrook, a former NHTSA administrator under President Jimmy Carter, said in prepared testimony.
Congress is considering new auto industry reforms following - - - - >

Toyoda was due to speak at a news conference Monday evening in Beijing, the company said, in his second foreign appearance following last weeks visit to Washington where he was grilled by angry lawmakers. Japanese news reports said he would meet with Chinese officials.
“The fact that he is going to China second, after the United States, tells you the importance they place on China relative to other markets,” said John Bonnell, a J.D. Power analyst. “Toyota wants to make sure it puts its best foot forward, not only with its best products but in instilling confidence.”
The number of Toyota vehicles - - - - >

The bailed-out bank made a pretax loss of 6.3 billion pounds, however, worse than analysts consensus forecast of 6.1 billion pounds.
For the year ending Dec. 31, the pretax loss narrowed from 6.7 billion pounds in 2008 before Lloyds TSB took over Halifax/Bank of Scotland in January 2009. All the comparisons assume that the businesses were combined in 2008.
Total impairments, largely inherited from HBOS, rose from 14.9 billion pounds to 24 billion pounds.
“We believe the groups overall impairment charge has now peaked, with a significant reduction expected in 2010,” said Group Finance Director Tim Tookey.
Total income, net of insurance claims, rose - - - - >

Lloydss pretax loss narrowed to 6.3 billion pounds ($9.6 billion) from 6.7 billion pounds in 2008, the London-based bank said in a statement today. That missed the 6.1 billion-pound median loss estimated by 22 analysts surveyed by Bloomberg. Lloyds fell in London trading.
Bad loan losses were “significantly higher” at 24 billion pounds, the lender said today. They declined 21 percent in the second half compared with the first six months.
“The HBOS legacy - - - - >

That was in 2003.
The years since have seen hundreds of drivers complaints about unwanted acceleration of their Toyotas, six inconclusive federal investigations, multiple reports of deaths and repeated denials from the automaker that it had a major problem on its hands.
Thats just the sort of bureaucratic inertia Barack Obama pointedly criticized as a presidential candidate. Yet his administration was without a federal highway safety chief for most of its first year and, like the Bush administration before it, missed signals in the Toyota case.
After several investigations, it was only last week that Toyota owners learned federal regulators, concerned that the - - - - >

Transportation Secretary Ray LaHood told The Associated Press that federal safety officials had to “wake them up” to the seriousness of the safety issues that eventually led Toyota to recall millions of popular brands like Camry and Corolla. That included a visit to Toyotas offices in Japan to convince them to take action.
“They should have taken it seriously from the very beginning when we first started discussing it with them,” LaHood told AP. “Maybe they were a little safety deaf.”
LaHood also said the government was considering civil penalties for Toyota over its handling of the recalls but declined to elaborate. - - - - >

“I am deeply sorry that were giving cause for concern to customers,” Toyoda said in an interview yesterday with Japans NHK television network in Davos, Switzerland, posted to U.S. broadcaster ABC News Web site. “Were preparing to explain the facts to our customers as soon as we can so that we can remove that anxiety.”
The worlds largest automaker, founded by Toyodas grandfather in 1937, has discussed its strategy with the National Highway Traffic Safety Administration, said Brian Lyons, a Toyota spokesman. He didnt have details on - - - - >

Rosenfeld is in her fifth month of pursuing an 11 billion- pound ($18 billion) hostile takeover offer, which Cadbury has rejected as “derisory.” Stitzer has predicted increased growth as an independent company. Rosenfeld says Kraft can achieve “top-tier” performance regardless of the outcome.
“If this Cadbury deal does not happen, I think shes certainly lost some credibility,” Christopher Growe, an analyst at Stifel Nicolaus & Co. in St. Louis, said in a phone interview. “Shes going to be held to a very high standard.” - - - - >

That relationship is over now.
Accenture ended its association with Woods on Sunday, marking the first major sponsor to cut ties altogether with the golfer since his alleged infidelities surfaced and he announced an indefinite leave from the sport to work on his marriage.
In its first statement since the Woods scandal erupted, Accenture said the golfer is “no longer the right representative” after the “circumstances of the last two weeks.” The move ends a relationship during which the firm credited its “Go on, be a Tiger” campaign with boosting its image significantly.
“After careful consideration and analysis, the company has determined that - - - - >

The shares will be sold at 37 pence each compared with yesterdays closing price of 91.47 pence a share, the London- based lender said in a statement today. Lloyds will offer 1.34 new shares for every one held in an issue of 36.5 billion shares, it said.
Lloyds announced its intention to raise the money in a fully underwritten rights offering on Nov. 3. The share sale will surpass that of HSBC Holdings Plc which raised 12.5 billion pounds in Britains biggest sale in March. - - - - >