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An employee of the Korea Exchange Bank counts one hundred U.S. dollar banknotes at the bank's headquarters in Seoul, August 11, 2011. REUTERS/Jo Yong-Hak

Corporate cash-hoarding continues

Even as the economy improves, corporate America continues to pile up record amounts of unused cash, Bloomberg reports.  Read more at Counterparties 

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Toyota recalls 11,153 Scion iQs

Thu Nov 15, 2012 10:59am EST

(Reuters) - Toyota Motor Corp (7203.T)(TM.N) is recalling 11,153 Scion iQ hatchbacks because the front passenger air bags might not deploy in a crash.

A sensor cable may become damaged when sliding the passenger seat forward or backward on 2012 and 2013 iQs, the National Highway Traffic Safety Administration (NHTSA) said Thursday in its official recall notice.

The defect could cause the passenger-side air bags to become deactivated or improperly activated, which could "increase the risk of injury to an occupant" in a crash, Toyota said in a November 7 letter to NHTSA.

There have been no reports of injuries due to the defect.

Toyota dealers will install a protective cover on the sensor cable, beginning in December.

(Reporting by Paul Lienert in Detroit; Editing by Jeffrey Benkoe)
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