Business briefing
Published 5:16 pm Tuesday, February 27, 2024
Toyota is recalling about 381,000 Tacoma midsize pickup trucks in the U.S. because a part can separate from the rear axle, increasing the risk of a crash.
The recall covers certain trucks from the 2022 and 2023 model years.
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Toyota said in a statement Tuesday that welding debris left on the ends of the axles can cause some nuts to loosen over time and eventually fall off. That can cause the part to separate from the axle, which can affect stability and brake performance.
Toyota wouldn’t say if there have been any crashes or injuries caused by the problem.
Dealers will inspect the rear axles and tighten retaining nuts at no cost to owners. Any damaged components will be repaired or replaced. Customers will be notified by mail in late April, the company says.
Sony Group Corp. will lay off 900 people across its video-game division worldwide, or about 8% of its employees, and close a group in London.
“After careful consideration and many leadership discussions over several months, it has become clear changes need to be made to continue to grow the business and develop the company,” departing Sony Interactive Entertainment President and Chief Executive Officer Jim Ryan wrote Tuesday in a note to staff, addressing the cuts.
Sony said the layoffs will also impact game makers Insomniac (the studio behind Spider-Man), Naughty Dog (The Last of Us) and Guerrilla (Horizon), three of its most successful subsidiaries.
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Sony shares plunged earlier this month on news that it was cutting projections for its PlayStation 5 console.
More than 6,000 video-game industry workers have lost their jobs this year as budgets have skyrocketed and game companies have faced a post-pandemic spending slowdown and rising interest rates.
American consumers are feeling less confident this month as concerns over a possible recession grew, despite most indicators pointing to a healthy U.S. economy.
The Conference Board, a business research group, said Tuesday that its consumer confidence index fell to 106.7 from a revised 110.9 in January.
Analysts had been forecasting that the index remained steady from January to February.
The index measures both Americans’ assessment of current economic conditions and their outlook for the next six months. The index measuring Americans short-term expectations for income, business and the job market fell to 79.8 from 81.5 in January. A reading under 80 often signals an upcoming recession.