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AP Business NewsBrief at 3:39 a.m. EST(Associated Press Via Acquire Media NewsEdge) Toyota's biggest problem: Aging lineupDETROIT (AP) _ It would be easy to think Toyota's biggest problem is its damaged reputation caused by sudden acceleration recalls, millions in government fines and massive lawsuits and settlements. But what's hurting the company most is an aging lineup of boring cars. Over the past decade, Toyota and its U.S. dealers had it easy. Cutting edge design wasn't required because the cars sold themselves on reputation. Everyone knew Toyotas held their value, were safe and got drivers from point A to point B with little drama. Then came the recalls, which called all of that into question. Asian stocks mostly lower on Portugal debt fearsBANGKOK (AP) _ Asian stock markets were mostly lower Tuesday, weighed down by worries that debt-ridden Portugal would have to seek a bailout even as Japan pledged help to ease Europe's financial crisis. Oil prices hovered above $89 a barrel in Asia as traders eyed repairs on a shutdown Alaskan pipeline which has cut crude production from the biggest U.S. state. In currencies, the dollar strengthened against the yen and the euro. Japan, American Airlines alliance being boostedTOKYO (AP) _ The heads of American Airlines and Japan Airlines said Tuesday their beefed up alliance will give travelers cheaper fares, more routes and easier connections on flights across the Pacific. U.S. and Japanese regulators gave approval to the strengthened alliance late last year, which followed the two nations signing an "open skies" deal to encourage air travel. American Airlines and Japan Airlines have cooperated for the past 15 years. Job bias claims set new record on disability surgeWASHINGTON (AP) _ Federal job bias complaints climbed to record levels last year, led by a surge in workers claiming discrimination based on disability. The Equal Employment Opportunity Commission says charges of disability discrimination rose by about 17 percent to 25,165 claims. Overall, the agency received nearly 100,000 claims during the 2010 fiscal year, a 7 percent increase and the highest number in its 45-year history. Oil hovers above $89 as traders eye Alaska leakSINGAPORE (AP) _ Oil prices hovered above $89 a barrel Tuesday in Asia as traders eyed repairs on a shutdown Alaskan pipeline that has cut crude production from the biggest U.S. state. Benchmark oil for February delivery fell 4 cents to $89.21 a barrel late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. Intel's truce with Nvidia shows industry's shiftsSAN FRANCISCO (AP) _ Intel Corp.'s decision to pay Nvidia Corp. $1.5 billion for the right to its patents highlights the seismic shifts the semiconductor industry is undergoing. The licensing deal announced Monday comes as both companies are adapting to the new rules of the consumer electronics world, as mobile devices are changing the way chips are made. Prius ranks as Japan's top-selling car in 2010TOKYO (AP) _ Toyota's Prius hybrid ranked as Japan's top-selling car in 2010 with annual sales hitting an all-time high, bucking the fallout from a series of massive global recalls, an auto industry group said Tuesday. Toyota Motor Corp. sold a record 315,669 Prius cars in its home market last year, up 51 percent from 2009, the Japan Automobile Dealers Association said. Qantas to resume A380 flights to Los AngelesADELAIDE, Australia (AP) _ Qantas said Tuesday it will resume A380 flights from Australia to Los Angeles this weekend after a more than two-month stoppage because of engine problems. The flights to the U.S. West Coast have been grounded since an engine on one of the airline's superjumbo jets disintegrated shortly after the plane took off from Singapore on Nov. 4, 2010. Flights to Singapore and London were reinstated in late November. HK stock exchange chief: Yuan IPO in 2011 likelyHONG KONG (AP) _ The head of Hong Kong's stock exchange said Tuesday he expects the city will have its first-ever initial public offering in yuan this year, as the exchange seeks to develop products denominated in China's currency to capture growing investor demand. Hong Kong Exchanges and Clearing's Chief Executive Officer Charles Li couldn't say when it would happen and wouldn't comment on whether any companies had applied to sell shares denominated in yuan, also known as renminbi. Orkla sells most of Elkem unit to China for $2BOSLO, Norway (AP) _ Norwegian conglomerate Orkla ASA announced Tuesday it will sell almost all its Elkem unit to chemical group China National BlueStar Corp. for nearly $2 billion. The deal, which also covers a major power contract that Orkla bought last year, includes Elkem Silicon Materials, Elkem Foundry Products, Elkem Carbon and Elkem Solar. However, Orkla said it will continue to own Elkem Energi AS. (c) 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. |