Nissan and Toyota to Recall Vehicles Video

Nissan and Toyota to Recall Vehicles

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Nissan is recalling 50,000 Trucks and SUVs for a suspension problem; Toyota will recall 4,500 Lexus autos for a steering defect. Plus: New rules to prevent flash trading

Transcript

Nissan and Toyota to Recall Vehicles Good morning! In Asia, market slid with Japan’s Nikkei falling half a percent to an 11- week closing low. Hong Kong’s Hang Seng also dropped slightly more than 1%. On Wall Street yesterday, the Dow closed down a 114 points while the NASDAQ gave back 37. This morning, we’ll get the latest on new home construction. The government will also release its monthly report on inflation. The economists are forecasting prices rose slightly last month. Nissan is planning to recall almost 50,000 trucks and SUVs. The issue is with the lower suspension control link which may not have been welded properly and could cause a rough and noisy ride. Nissan says, no accidents have been reported in connection with the problem. Meanwhile, Toyota is recalling 4500 Lexus’ in Japan to fix a problem with how the steering wheel controls the tires. Toyota says, it has received 12 complaints in Japan but says it is not aware of any accidents. Cars with the same system have also been sold here in the US, Europe and China. Regulators still don’t know exactly what caused May 6th Flash Crash on Wall Street but they have already come up with new rules to hopefully prevent it from happening again. Under the new proposed rules, US Stock Exchanges went briefly halt trading of some stocks that have big price swings. If approved to the rules, it would take effect by mid- June under a six month trial program. And Best Buy is getting into the online video rental business. The electronics retailer says it will start renting and selling DVDs online by the end of the month. Rivals in the market include Netflix, Apple and Blockbuster. Best Buy’s rentals are expected to go for $4.00 each. If you want to buy a movie, it will cost about $15.00. That’s your Money Watch. For more, stay with CBS MoneyWatch.com. In New York, I’m Ashley Morrison.

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