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Business

  • Non-bank ATM fees jump
    LOS ANGELES – The penalty for using an ATM that is not affiliated with your bank rose 5 percent over the past year.The average fee for using an out-of-network ATM climbed to a new high of $4.
  • Apprentice slots open with union
    Plumbers & Steamfitters Local 166 will host an “Industry Advancement and Apprenticeship Promotion” event from today through Friday at the union’s offices, 2930 W. Ludwig Road.
  • Intel to buy stakein Chinese venture
    SANTA CLARA, Calif. – Intel will pay up to $1.5 billion for a 20 percent stake in a Chinese venture that will design and make Intel-branded chips for mobile phones and other electronics.
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Toyota to pay $16 million in recall settlement

LOS ANGELES – A California district attorney has reached a $16 million settlement with Toyota Motor Corp. over a safety recall of vehicles that were at risk for unintended acceleration.

Orange County District Attorney Tony Rackauckas on Friday announced the settlement of a suit against the carmaker that claimed deceptive business practices and sought $2,500 per violation under the state’s Unfair Business Practices Act.

Numerous lawsuits were filed against Toyota after the carmaker’s 2009 and 2010 recalls in the United States because of acceleration problems and braking issues.

The automaker has blamed driver error, faulty floor mats and stuck accelerator pedals for the problems.

In a statement released Friday, Toyota general counsel Christopher P. Reynolds says the company is turning the page on the recalls to restore its reputation for safety and reliability.

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