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AP Business NewsBrief at 8:38 p.m. EST
[February 15, 2010]

AP Business NewsBrief at 8:38 p.m. EST


(Associated Press Via Acquire Media NewsEdge) Eurozone tells Greece to ready new cuts, taxesBRUSSELS (AP) _ European finance ministers bluntly told Greece to prepare tougher spending cuts and new taxes in an attempt to snuff out a government debt crisis that has shaken the entire eurozone. The 16 countries that use the euro warned Greece on Monday that it will need to take the extra measures if current cutbacks don't bring its massive deficit down _ from a staggering 12.7 percent of economic output to a still-high 8.7 percent this year.



Small plane crashes at mid-NJ airport, killing 5WALL TOWNSHIP, N.J. (AP) _ A small plane trying to land broke apart and tore through a snowy field next to a runway Monday afternoon, killing all five people aboard, including a teenager and a child, and scattering debris over 200 feet. The crash was reported at 3:45 p.m. at Monmouth Executive Airport, about 35 miles east of Trenton, said Federal Aviation Administration spokesman Jim Peters. The weather was overcast, but no precipitation was falling.

Mexico's Televisa to buy 30 pct of Nextel MexicoMEXICO CITY (AP) _ Mexican media giant Televisa said Monday it has agreed to buy 30 percent of cell phone carrier Nextel de Mexico for $1.44 billion as part of its plan to offer "quadruple play" _ voice, video, Internet and wireless products. The companies plan to bid together on wireless airwaves in a government auction planned for May, and the investment is subject to winning the auction and Nextel getting the spectrum to broaden its services.


Gov't: 34 deaths alleged in Toyotas since 2000WASHINGTON (AP) _ Complaints of deaths connected to sudden acceleration in Toyota vehicles have surged in recent weeks, with the alleged death toll reaching 34 since 2000, according to new consumer data gathered by the government. Complaints to a database maintained by the National Highway Traffic Safety Administration about the popular Toyota Prius hybrid grew by nearly 1,000 in just over a week.

European markets edge up despite Greek debt fearsLONDON (AP) _ European stock markets won some respite Monday ahead of a meeting of eurozone finance ministers in Brussels, where the Greek debt crisis will inevitably top the agenda. Public holidays in Asia as well as the U.S. have kept volumes low. The FTSE 100 index of leading British shares closed up 25.02 points, or 0.5 percent, at 5,167.47 while Germany's DAX rose 10.71 points, or 0.2 percent, at 5,511.10. The CAC-40 in France was 11.27 points, or 0.3 percent, higher at 3,610.34.

Oil industry cautious on futureLONDON (AP) _ The oil industry expects a difficult road ahead as it struggles to recover from the global economic downturn and is forced to juggle rising demand from developing countries against requirements for cleaner energy. Oil executives and analysts meeting in London on Monday said the industry was at a crossroads as it emerges out of a rout that sent crude prices tumbling from a record high of $150 in July 2008 to under $40 a barrel at the peak of the financial turmoil.

Toyota may lengthen warranties to keep customersORLANDO, Fla. (AP) _ Toyota Motor Corp. may offer incentives or increase the length of its warranties as it tries to recover from an embarrassing string of safety-related recalls. The company has not decided exactly what it will do after it gets past the recalls, which include more than 8 million vehicles worldwide, for sticky gas pedals, floor mats that can snag the accelerator and a software glitch in the brakes of its Prius gas-electric hybrid, said Group Vice President Bob Carter.

Saudi Arabia preparing for oil demand to peakJEDDAH, Saudi Arabia (AP) _ A top Saudi energy official expressed serious concern Monday that world oil demand could peak in the next decade and said his country was preparing for that eventuality by diversifying its economic base. Mohammed al-Sabban, lead climate talks negotiator, said the country with the world's largest proven reserves of conventional crude is working to become the top exporter of energy, including alternative forms such as solar power.

Use of temps may no longer signal permanent hiringWASHINGTON (AP) _ It's not the signal it used to be. When employers hire temporary staff after a recession, it's long been seen as a sign they'll soon hire permanent workers.

Microsoft replays Zune design for phone comebackBARCELONA, Spain (AP) _ Apple Inc. rocked the wireless business by combining the functions of a phone and an iPod. Now, more than two years later, Microsoft Corp. has its comeback: phone software that works a lot like its own Zune media player. The software, which was unveiled Monday at the Mobile World Congress, is a dramatic change from previous generations of the software that used to be called Windows Mobile. But Microsoft is, for now, sticking to its model of making the software and selling it to phone manufacturers, rather than making its own phones.

(c) 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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