Treasury to delay debt limit rise amid fiscal cliff talks
The U S Treasury will use accounting steps starting Friday to delay hitting the 16.4 trillion borrowing cap by about two months by halting certain debt-creating actions. Geithner warns negotiations on tax and spending policies cloud the timeline while Obama seeks a debt limit rise in a budget deal.
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Toyota reaches over billion settlement on unintended acceleration
Toyota Motor Corp settles hundreds of acceleration lawsuits for more than 1 billion dollars. The agreement includes a 1.1 billion pre tax charge, cash payments from a 250 million pool, a 250 million program for 16 million owners, brake override retrofits on 3.2 million vehicles, and new safety research. Court review by U.S. District Judge James Senna is expected.
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Regulators Press San Onofre for Full-Power Tubing Analysis
Federal officials asked Southern California Edison for a full power interaction analysis of the damaged steam generator tubes at San Onofre reactor units. The NRC cites corrosion and structural integrity concerns after a 2009 2010 overhaul and a radiation leak pause.
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