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Toyota saw '07 U.S. floormat recall as money-saving win

Toyota Motor Corp believed it had saved over $100 million by convincing U.S. regulators to end a 2007 investigation of sudden acceleration complaints with a relatively cheap floormat recall, according to an internal company document.
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Daily Forecast - 22/2/2010

The Australian Dollar opens on Monday at 0.8995 after a surprise rate raise in the United States last Friday (local time) sent the greenback soaring against several major currencies.
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Bernanke, retailers hold key for stocks

Wall Street could keep rallying after notching its best week this year if Federal Reserve Chairman Ben Bernanke gives a reassuring assessment of the recovery and retail earnings show improvement.
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Reviewers urge Glaxo's Avandia come off market

Two U.S. drug safety reviewers have recommended that GlaxoSmithKline PLC's diabetes drug Avandia be pulled from the market after concluding it is more dangerous to the heart than a rival medicine, according to documents released on Saturday.
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Chinese schools deny link to Google attack

A prestigious Chinese university and a lesser-known vocational school have denied a report they were the source of recent cyber attacks on Internet giant Google and other U.S. corporations, Xinhua news agency said on Saturday.
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General Growth sued by shareholder: report

A General Growth Properties Inc shareholder has filed suit against the company's directors, saying they should not have rejected Simon Property Group Inc's buyout offer of $10 billion, Bloomberg News reported on Saturday.
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Super Sunday fired by grudge matches

Three of international ice hockey's greatest rivalries take center stage for a hat-trick of grudge matches in what is being billed as Olympic Super Sunday at Canada Hockey Place. Sports
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Fischbacher wins super-G as Slovenia protests

Austrian Andrea Fischbacher unleashed the performance of her life on Saturday to win the women's super-G gold medal as organizers of the Vancouver Olympics faced fresh complaints about safety standards.
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French PM: new Iran measures needed if no progress

French Prime Minister Francois Fillon said world powers would have to take new action against Iran in the next few weeks if Tehran continues to reject Western proposals on its disputed nuclear programme.
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India speeds up $11 bln fighter jets purchase

India will narrow down the number of bidders by mid-2010 for its $11 billion fighter jet tender, a minister said, in a closely watched deal where diplomacy and strategic interests will play a big role.
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Karzai renews peace calls to Taliban

Afghan President Hamid Karzai renewed his call on Saturday for the Taliban to accept his peace proposal, after a NATO offensive and the capture of a top Taliban leader raised hopes the group could be more flexible.
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Simon rejects General Growth terms for talks

Simon Property Group Inc said it could not agree to conditions General Growth Properties Inc wanted to impose before talks about Simon's $10 billion bid for the No. 2 U.S. mall owner.
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Canada all fired up by Own the Podium campaign

Canada's stated aim of winning a lion's share of medals in their home Games has led to high excitement in the streets of Vancouver and hopes for a lasting legacy, Canadian Olympics chief Chris Rudge said on Friday.
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Double gold for Norway, Games accusations fly

Aksel Lund Svindal flashed down Whistler mountain to win the men's super-G Friday and deny American Bode Miller an elusive gold medal at the Winter Olympics as Norway stormed up the medals table.
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Government was told of Toyota claims in 2004: insurer

The largest U.S. auto insurer alerted regulators earlier than first believed about a worrying trend of accidents involving Toyota Motor Corp vehicles, while the Obama administration's top transportation official said on Friday he would not relax pressure on the carmaker.

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