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Toyota Expands Controversial Recall to Two New Models

Toyota on Friday added two models to a controversial 2009 recall launched after floor mats became trapped under the accelerator and were linked to dozens of deaths.

Toyota's mishandling of the initial problem and other reports of sudden, unintended acceleration led to the recall of more than 12 million vehicles worldwide, a U.S. congressional probe, more than $50 million in fines from U.S. regulators and public apologies by its chief.

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World Bank Cancels $1.2 bn Loan for Bangladesh Bridge

The World Bank on Friday cancelled a $1.2 billion loan for Bangladesh's Padma bridge project, saying the government had not cooperated in investigating "high level" corruption in the project.

"The World Bank cannot, should not, and will not turn a blind eye to evidence of corruption," it said, announcing the loan was being cancelled immediately.

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German Parliament Approves Euro Crisis-Fighting Tools

The German parliament overwhelmingly approved two euro-crisis fighting tools Friday rallying to a call by Chancellor Angela Merkel to show the world Germany's commitment to the single currency.

Hard on the heels of a "breakthrough" EU summit, Merkel dashed back from Brussels to address lawmakers before the Bundestag lower house and Bundesrat upper chamber voted by a two-thirds majority to back new budget rules and a permanent bailout fund.

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Bristol-Myers Squibb to Buy Amylin for $7 Bln

Pharmaceutical giant Bristol-Myers Squibb announced late Friday that it will purchase diabetes drug maker Amylin Pharmaceuticals, Inc. for about $7 billion.

Under the deal, unanimously approved by the boards of directors of both companies, Bristol-Myers Squibb will pay $31 in cash per Amylin share and assume Amylin's debt and a contractual payment obligation totaling about $1.7 billion, the announcement said.

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British Banks Rocked by Fresh Mis-Selling Scandal

Britain's financial regulator on Friday said it had ordered the country's major banks, including HSBC and Barclays, to compensate businesses for "serious failings" over the sale of complex products.

The Financial Services Authority (FSA) said it had reached agreement with Barclays, HSBC, Lloyds and Royal Bank of Scotland "to provide appropriate redress" for mis-selling interest rate hedging products.

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Moody's Cuts Brazil Bank Ratings

Moody's on Thursday cut its credit grades for eight Brazilian banks, saying they should not be rated significantly higher than the government in a global environment that has governments backstopping financial institutions.

The banks' "standalone financial strength ratings" fell by one to three notches, mostly to line up at or just one level above Moody's Baa2 rating for Brazil.

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Nissan to Hire 1,000 More Workers for U.S. Plant

Nissan will hire another 1,000 workers at its Mississippi plant as it expands production in the United States, the Japanese automaker said Thursday.

The new hires will bring the plant's workforce to 4,500 people by the end of the year as Nissan adds its Sentra compact car, Frontier pickup truck and Xterra sport utility vehicle to the assembly line.

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Euro Jumps on EU Summit Deals

The euro surged in Asian trade on Friday after European leaders struck a deal on a $150-billion growth pact to shore up the Eurozone, and opened the door to wider use of rescue funds.

The single currency hit $1.2594 in afternoon trade, climbing from $1.2449 in morning Tokyo trade, while it also rose against the Japanese currency to 99.96 yen from 98.60 earlier Friday.

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Eurozone Seals Grand Bargain to Help Italy and Spain

Leaders from the 17 countries that share the embattled euro sealed a dramatic deal Friday to allow emergency measures to aid crisis-hit Italy and Spain, as well as provide billions to boost the economy.

Following tense talks that stretched into the early hours, EU president Herman Van Rompuy told reporters a "real breakthrough" had been struck to calm financial markets and reshape the Eurozone to prevent the crisis recurring.

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Blast Halts Iran Gas Shipments to Turkey

An explosion targeting a pipeline in eastern Turkey has cut off Iranian natural gas shipments to the country, Anatolia news agency reported on Thursday citing sources from the energy ministry.

The blast occurred at 2300 GMT Wednesday in an area between villages of Hidirli and Kalender in the eastern province of Agri, said Anatolia.

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