The Ticker

Toyota to pay $1.2B to settle criminal probe

Toyota agreed to pay $1.2 billion to settle an investigation by the U.S. government, admitting that it hid information about defects that caused Toyota and Lexus vehicles to accelerate unexpectedly and resulted in injuries and deaths.

Attorney General Eric Holder said yesterday that the penalty is the largest of its kind ever imposed on an auto company. The four-year criminal investigation focused on whether Toyota promptly reported the problems related to unintended acceleration.

N.Y. plant fined $12.5M for polluting

An industrial plant that knowingly released hundreds of tons of the carcinogen benzene into the air over a five-year span and improperly handled hazardous sludge on the ground was fined $12.5 million yesterday, and a manager was sentenced to a year in jail.

Tonawanda Coke Corp. and its former environmental manager, Mark Kamholz, were convicted of federal environmental crimes last year. The plant, along the Niagara River, burns coal to produce coke, used in steelmaking.

FAA: Boeing 787 jetliners are safe

Boeing's design and manufacture of its cutting-edge 787 jetliner is safe despite the many problems encountered since the plane's rollout, including a fire that forced a redesign of its batteries, according to a report issued jointly yesterday by the Federal Aviation Administration and the aircraft maker.

The yearlong review concluded "the aircraft was soundly designed, met its intended safety level, and that the manufacturer and the FAA had effective processes in place to identify and correct issues that emerged before and after certification," the agency said in a statement.

TODAY

 Labor Department releases weekly jobless claims.

 National Association of Realtors releases existing home sales for February.

 Nike reports quarterly financial results after the market closes.

TOMORROW

 Tiffany reports quarterly financial results before the market opens.

THE SHUFFLE

NVNA Works, a nonprofit, private-pay home care agency, has named Ellen Allen to its board of directors. She is currently chairwoman of both the Plymouth County Advisory Board and the Norwell Board of Selectmen.

L Kristina Lupo has joined the 451 Marketing search marketing team as account director. With more than 12 years experience in advertising and radio, Lupo will be responsible for managing the development and execution of integrated search campaigns for 451 Marketing's clients.

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