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90 seconds at 9am: Tobin Tax call; Greek debt woes; Massive Toyota recall
Watch on our video page here. 
Watch on YouTube here. Bernard Hickey details the key news overnight in 90 seconds at 9am in association with BNZ, including news that Sanford MD Eric Barratt has called for a tax on foreign exchange transactions that aren't linked to real trade flows. He says all the speculative trades in the New Zealand dollar are distorting the currency. This 'Tobin Tax' is supported by the British, but without the Americans it won't happen. Have your say here. Meanwhile Greek bond yields spiked overnight after the government there said it would not sell bonds to the Chinese. There are growing concerns that heavy sovereign debt will derail the global recovery. Meanwhile Toyota has announced a massive recall of its top selling cars in the United States because of a problem with accelerator cables. It is shutting factories there. Meanwhile Telecom's XT network went down yesterday and Telecom said it would launch an independent inquiry into XT.
4 Comments
Toyota recall, bit of bad
Toyota recall, bit of bad reporting there BH
You give the impression all toyotas are effected..
It is not, it is US made toyotas that use the CT (US manfactured) pedal/assebly. Japanese import cars are not effected...
At the moment toyota have stopped all sales of new and 2nd hand models in the US, which dealerships now have the compenents to fix...then on 2 Feb starting on recalls.
gas pedals assy's will be modified
insulation under the carpet will be reduced
floor mats will be replaced and secured
computers will be reflashed and a program for safety will be added(when cruising down the road above 45mph if the gas pedal and the brake pedal is touched at the same time it will kill the fuel to and idle for safety) you can pull off to the side and shut the car down and restart and go.
toyota USA is stopping sales of all new and used
2009-2010 corolla
2009-2010 matrix
2007-2010 camry
2005-2010 avalon
2009-2010 rav 4
2010 highlander
2007-2010 tundra
2008-2010 sequoia
GM Pontiac are also recalling 2009/10 Pontiac Vibe which is basically a relabeled Toyota Matrix
Also to note the CTS
Also to note the CTS Corporation also produce similar compments for US made Ford Escape and Mazda Tribute which are currently being access
CTS Corp has just made a press release on the subject
http://www.ctscorp.com/publications/press_releases/nr100127.htm
Capital flow controls are far
Capital flow controls are far easier to implement than Tobin Tax and far less reliant upon the goodwill of many financial institutions to play their part.
http://news.bbc.co.uk/2/hi/business/600227.stm
Jeez Iain, just two lines...well
Jeez Iain, just two lines...well done. And said capital flow controls would be reliant on the politicians instead. Oh yeah...like that would be soooo good.