DETROIT/WASHINGTON (Reuters) – Toyota Motor Corp said on Tuesday it will recall some 3.8 million vehicles because of the risk that a loose floormat could force down the accelerator, a problem suspected of causing crashes that killed five people.

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Toyota plans recall of 3.8 million vehicles

Life insurer The Hartford Financial Services Group Inc. on Tuesday named Liam E. McGee, the former head of consumer banking at Bank of America, as its new chairman and CEO. The 55-year-old McGee succeeds Ramani Ayer, who announced his plans to retire this…

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Bank of America – Chief executive officer – Ramani Ayer – Hartford – Business

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Hartford names former BofA exec as new CEO

SAN FRANCISCO (Reuters) – Nike Inc beat quarterly profit expectations as deep cost cuts and lower taxes more than offset crumbling revenue in key markets like the United States and China, sending its shares up 4.4 percent.

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Nike beats on cost cuts, shares jump

Regular readers, especially those who work for or buy cars from Detroit’s automakers, often bemoan that Toyota’s recalls don’t get enough attention in the media. Well, here’s one hot off the press. Toyota said today that it is launching its largest recall in …

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Toyota recalls 3.8 million vehicles

Regular readers, especially those who work for or buy cars from Detroit’s automakers, often bemoan that Toyota’s recalls don’t get enough attention in the media. Well, here’s one hot off the press. Toyota said today that it is launching its largest recall in …

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Toyota Launches Huge Recall

The Japanese automaker is recalling 3.8 million vehicles because an unsecured floor mat could hit the accelerator, send the car speeding forward and cause accidents, says BW’s David Welch

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Toyota Issues Its Biggest Recall Ever

Nike Inc. on Tuesday reported its profit was practically unchanged in its fiscal first quarter while revenue fell sharply as consumers around the globe limited their spending. The Beaverton-based athletic shoe and clothing company reported it earned $513…

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Nike’s 1Q profit beats estimates, shares rise

NEW YORK (Reuters) – Coca-Cola Co and its largest independent bottler, Coca-Cola Enterprises Inc, are mounting a campaign against a possible U.S. tax on soft drinks.

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Coke, bottler launching campaign against soda tax

Itunes is the most popular music distributor, but Apple can’t get a toehold in the video or TV market. Here’s how to change that

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Why Apple Should Put iTunes Inside Your TV

NEW YORK (Reuters) – Boston Scientific Corp will pay Johnson & Johnson $716 million to settle more than a dozen patent dispute lawsuits involving coronary stents and other heart devices, the companies said on Tuesday.

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Boston Sci to pay J&J $716 million to settle suits

NEW YORK (Reuters) – Hartford Financial Services Group Inc named a former Bank of America Corp executive to replace its chairman and CEO, Ramani Ayer, who had announced plans to retire in June after the 199-year-old insurer struggled with record losses.

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Hartford Financial names ex-BofA exec as CEO

EASTON, Penn. (Reuters) – The Federal Reserve will have to act quickly, and “perhaps aggressively” when the time comes to pull back its extraordinary support for markets in order to avoid stoking inflation, the president of the Federal Reserve Bank of Philadelphia said on Tuesday.

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Fed’s Plosser: Policy shift may need to be aggressive

To prevent inflation from taking off, the Federal Reserve will need to start boosting interest rates quickly and aggressively once the economy is back on firmer footing, Fed officials warned Tuesday. “I expect that when it comes time to tighten monetary…

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Officials: Fed will need to boost rates quickly

NEW YORK (Reuters) – CIT Group Inc is negotiating a new credit facility of up to $10 billion that could help the finance company pay off maturing debt and stave off bankruptcy, people familiar with the situation said.

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CIT in talks for loan of up to $10 billion: sources

President Barack Obama said Tuesday he’ll visit the Hurricane Katrina-damaged Gulf Coast by mid-October. Such a trip would fulfill Obama’s promise to visit the region by the end of his first year in office. Details of the trip will be released at a later…

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Barack Obama – HurricaneKatrina – Gulf Coast of the United States – United States – Gulf Coast

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Obama announces mid-October visit to Gulf Coast