GM, Ford, Toyota Back New U.S. Mileage Goals to Stave Off Stricter Rules

(Bloomberg) -- Automakers are embracing legislation
in the U.S. House that would raise fuel-economy standards,
abandoning years of resistance because of concerns they might
otherwise be forced to accept even tougher measures.

An industry group representing General Motors Corp., Ford
Motor Co., Toyota Motor Corp. and six other auto companies is
backing a bill that would require a more than one-quarter
increase in average vehicle mileage by 2022. Competing measures
in the House and Senate mandate stricter requirements that would
compel earlier compliance and probably cost the industry more.


Read more at Bloomberg Energy News

Japan's Stocks May Drop on U.S. Subprime Concern, Stronger Yen, LDP Defeat

(Bloomberg) -- Japanese stocks may drop after a
report on economic growth in the U.S. showed residential
investment slumping as the subprime problem worsens, pointing to a
weaker outlook for Japan's largest overseas market.

Toyota Motor Corp. and Sony Corp. may lead exporters lower
after the yen advanced to the highest against the dollar in more
than three months, reducing the value of their overseas sales.


Read more at Bloomberg Stocks News

Chrysler says closing of Cerberus deal very close

(Reuters) - LaSorda also said Chrysler, now the No. 4 automaker in the U.S. market, needs to close a gap in hourly labor costs with Japanese rivals making vehicles in the U.S. market.




Chrysler says its U.S. hourly labor costs, including health care, are some $30 per hour higher than equivalent costs for Japanese automakers led by Toyota Motor Corp. .


Read more at Reuters.com Mergers News

Japan's Nikkei 225 Stock Average, Topix Fall; Toyota, Canon Lead Decline

(Bloomberg) -- Japan's Nikkei 225 Stock Average
fell 103.87, or 0.6 percent, to 18,107.81 at 9:02 a.m. in Tokyo.
The broader Topix index dropped 8.97, or 0.5 percent, to
1774.75.

Toyota Motor Corp. and Canon Inc. led the declines.


Read more at Bloomberg Stocks News

Asian Stocks Rise for Third Day on U.S. Inflation; Toyota, Samsung Gain

(Bloomberg) -- Asian stocks rose for a third day
after a measure of U.S. inflation cooled and the yen weakened
against the dollar and euro, helping improve earnings prospects
for the region's exporters.

Samsung Electronics Co. and Toyota Motor Corp. led
technology companies and automakers higher. BHP Billiton Ltd.
climbed to a third straight record after metals prices advanced.


Read more at Bloomberg Stocks News

Japanese Stocks Rise; Nikkei Closes Above 18,000 for First Time Since Feb.

(Bloomberg) -- Japanese stocks rose, with the Nikkei
225 Stock Average closing above 18,000 for the first time since
February. Automakers such as Toyota Motor Corp. led gains as
concern eased a slowdown in the U.S. economy will drag on the
companies' profit growth.

Energy producers advanced after the price of crude oil
climbed above $66 a barrel in New York.


Read more at Bloomberg Stocks News

Japan's Shares Fall on Concern China Slump Will Spread; Toyota Leads Drop

(Bloomberg) -- Japanese stocks fell on concern a
plunge by Chinese stocks, triggered by a tripling of the tax on
securities transactions on the mainland, will spread to equities
throughout Asia.

Chugai Pharmaceutical Co. fell the most since January 2003
after saying the price of its cancer drug will be about 40
percent less in Japan than the U.S. Toyota Motor Corp. declined
for the first time in three days.


Read more at Bloomberg Stocks News