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Business News

Eurozone readies possible bailout for Greece (AP)

Greek Finance Minister Giorgos Papakonstantinou, right, walks behind Luxembourg's Prime Minister and Chairman of the Eurogroup Jean Claude Juncker, center, and the President of the European Central Bank Jean-Claude Trichet as they arrive for a Eurogroup meeting in Brussels, Monday, March 15, 2010. Eurozone finance ministers meet to check whether Greece's austerity program goes far enough to reduce its massive deficit, amid talk that they are preparing a rescue package for the country if it can't borrow from wary bond markets. (AP Photo/Geert Vanden Wijngaert)AP - Eurozone finance ministers agreed Monday to offer financial help for Greece — likely in the form of bilateral loans — but refused to give details until European Union leaders make a final decision on the potential bailout.


Toyota dismisses account of runaway Prius (AP)

Bob Waltz, Toyota Motor Sales USA Vice President of Product Quality and Service Support, left, speaks as Toyota Motor Sales USA Vice President of Communications Mike Michels looks on during a news conference held Monday, March 15, 2010 in San Diego.  Toyota held the news conference to share preliminary findings of the company's technical investigation into an alleged incident of unintended acceleration involving a 2008 Toyota Prius driven by James Sikes. (AP Photo/Denis Poroy)AP - Toyota dismissed the story of a man who claimed his Prius sped out of control on the California freeway, saying Monday that its own tests found the car's gas pedal and backup safety system were working just fine.


Pay czar limits exec pay at still-struggling GMAC (AP) AP - The Obama administration's pay czar is limiting 2010 compensation for top executives at GMAC Inc. because the auto finance giant continues to lose money and can't yet repay its $16.3 billion taxpayer bailout, according to people familiar with the negotiations.9 bailed-out banks report declines in new lending (AP) AP - The Treasury Department says new lending plummeted in January at the nine largest banks that have yet to repay their taxpayer bailouts.Bipartisan jobs bill advances past GOP filibuster (AP) AP - A bipartisan bill that would provide tax cuts for businesses that hire unemployed workers cleared a GOP filibuster in the Senate Monday, opening the way for final congressional approval.