Papers: Toyota forced to recall another 1.5mln cars


(MENAFN- ProactiveInvestors - UK) Several newspapers reported the gun and bomb attacks at Istanbul''s Ataturk airport yesterday that left 36 people dead and a further 140 injured.

Three attackers are said to have opened fire near the terminal entrance late on Tuesday, detonating their suicide vests when confronted by police.

According to The Guardian, Turkey''s Prime Minister, Binali Yildirim, has claimed that the attacks were carried out by ISIS.

Japanese car maker Toyota Motor Corp has been forced to recall nearly 1.5mln hybrid vehicles worldwide because of a possible airbag fault, writes this morning''s Telegraph.

The recall was announced late yesterday evening and applies to the Prius and Lexus CT200H cars made between 2010 and 2012.

Air bag inflators on these models could have a small crack in the weld, meaning the air bag could partially inflate and the inflator could enter the vehicle interior, increasing the risk of injury.

Toyota said the air bags were not made by Takata, which makes products that have been linked to 11 deaths recently.

This morning''s Financial Times has some bad news for the City of London, as it claims the financial centre will no longer be able to clear euro-denominated trades.

The paper quotes French President Francois Hollande as saying: ''The City, which thanks to the EU was able to handle clearing operations for the Eurozone, will not be able to do them.''

Hollande adds: ''It can serve as an example for those who eek the end of EuropeIt can serve as a lesson.''

The FT says stripping away the City''s right to clear euro-backed trades has been ''a long cherished goal of the European Central Bank in Frankfurt''.

The proposed merger between the London Stock Exchange Group PLC (LON:LSE) and Deutsche Boerse is coming under increasing pressure, writes today''s Times.

The head of the German Financial Supervisory Authority, Felix Hufeld, says that the combined business cannot be based in Britain.

''Without doubtit is hard to imagine that the most important exchange venue in the Eurozone would be steered from a headquarters outside the EU,'' he is quoted as saying.

LSE shareholders are set to vote on the merger on Monday and one of the key items on their agenda is ensuring that the exchanges should have their headquarters in London.

Elsewhere in the City, the boss of Lloyds Banking Group PLC (LON:LLOY) has bought 100,000 shares in what The Telegraph is calling a ''show of strength''.

Antonio Horta-Osario bought the shares for 54,200 to show the market that the bank''s share price tumble is a short-term hit rather than anything more substantial and longer-term.

Shares in Lloyd''s have lost nearly a quarter of their value since last week''s EU referendum result.


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