GM, Ford, Toyota Back New U.S. Mileage Goals to Head Off Stricter Rules

(Bloomberg) -- Automakers are embracing legislation
in the U.S. House that would raise fuel-economy standards,
abandoning years of resistance because of concerns they might
otherwise be forced to accept even tougher measures.

An industry group representing General Motors Corp., Ford
Motor Co., Toyota Motor Corp. and six other auto companies is
backing a bill that would require a more than one-quarter
increase in average vehicle mileage by 2022. Competing measures
in the House and Senate mandate stricter requirements that would
compel earlier compliance and probably cost the industry more.


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Honda, Riding `Buzz' From New Accord, May Win Investors as Toyota Stalls

(Bloomberg) -- Shares of Toyota Motor Corp.
outperformed those of Honda Motor Co. in the first half of the
year on rising U.S. sales. Now it may be Honda's turn.

Japan's second-largest carmaker will reap bigger gains than
Toyota from a weaker-than-forecast yen and higher demand for
more fuel-efficient vehicles in the U.S., said Jeffrey Scharf,
president of Scharf Investments, a $660 million fund in Santa
Cruz, California. Honda also predicts sales will rise with the
September release of a new Accord sedan, its top-selling model.


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PRESS DIGEST - Wall Street Journal - July 4

(Reuters) - * Buyout firm KKR & Co. LP [KKR.UL] filed to raise $1.25
billion in an initial public offering, following in the
footsteps of archrival Blackstone Group.




* Detroit's big three auto makers posted weaker June sales
despite fresh incentives, as General Motors Corp. and
Ford Motor Co. continued to slash sales to rental fleets.
Toyota Motor Corp.'s U.S. vehicle sales jumped 10
percent.


Read more at Reuters.com Mergers News

Asian Shares Slide to Two-Week Low on Profit Growth Concern; Toyota Drops

(Bloomberg) -- Asian stocks fell to the lowest in
almost two weeks on concern earnings will be curbed by slowing
consumption in the U.S., the strengthening yen and a drop in
metals and oil prices.

Toyota Motor Corp., Japan's largest automaker, declined
after reports showed home sales and consumer confidence fell in
the world's largest economy and the yen strengthened for a third
day, eroding the value of overseas sales. BHP Billiton Ltd.
tracked a slump in raw-materials prices.


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Asian Stocks Fall for a Third Day on U.S. Spending Concern; Toyota Drops

(Bloomberg) -- Asian stocks fell for a third day on
concern a slump in U.S. housing will curb spending in the
region's biggest export market.

Toyota Motor Corp., which made almost two-thirds of its
sales outside Japan last year, and Hon Hai Precision Industry Co.,
whose customers include Apple Inc., led declines after sales of
previously owned homes fell to the lowest in almost four years.


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Asian Stocks Trading in U.S. Post Worst Weekly Drop in 2 Months; BHP Falls

(Bloomberg) -- Asian stocks trading in the U.S. had
their worst weekly decline in almost two months amid concern
China may boost interest rates to cool economic growth and the
damage from a collapse in U.S. subprime market may be worse than
expected.

Toyota Motor Corp. and BHP Billiton led the retreat.


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Japan Shares Rise to Highest Since February, on Easing U.S. Inflation, Yen

(Bloomberg) -- Japanese stocks advanced, driving
key indexes to the highest since February, after a report showed
U.S. core consumer prices slowed, increasing speculation Japan's
biggest overseas market will expand without adding to inflation.

Toyota Motor Corp., the world's largest automaker by market
value, climbed to the highest since March and Canon Inc., which
made almost one third of its sales in North America last year,
had the biggest gain in a month.


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Japanese Shares Climb to Highest Since Feb., on Easing U.S. Inflation, Yen

(Bloomberg) -- Japanese stocks advanced, driving
key indexes to the highest since February, after a report showed
U.S. core consumer prices slowed, increasing speculation Japan's
biggest overseas market will expand without adding to inflation.

Toyota Motor Corp., the world's largest automaker by market
value, and Honda Motor Co., which made more than half of its
sales in North America last year, led gains.


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Japan Shares Gain on Stronger-Than-Expected U.S. Growth; Kobe Steel Surges

(Bloomberg) -- Japanese shares advanced after
reports showed employment and manufacturing growth in the U.S.,
Japan's largest overseas market, expanded more than expected.

Toyota Motor Corp., the world's No. 1 carmaker by market
value, added 1.2 percent. Kobe Steel Ltd. jumped the most in
three months after the Nikkei newspaper reported the company is
expanding output of aluminum auto parts as demand increases.


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Japan's Nikkei, Topix Rise; Toyota, Mitsubishi Heavy Industries Lead Gain

(Bloomberg) -- Japan's Nikkei 225 Stock Average
rose 94.88, or 0.5 percent, to 17,774.93 at 9:02 a.m. in Tokyo.
The broader Topix index added 8.39, or 0.5 percent, to
1739.93.

Toyota Motor Corp. and Mitsubishi Heavy Industries Ltd. led
the advances.


Read more at Bloomberg Stocks News