Money Minute: Toyota, Dow Chemical, GE

BusinessMoney Minute: Toyota, Dow Chemical, GEMoney Minute: Toyota, Dow Chemical, GEThe Associated PressToyota will start producing the hybrid Prius in Mississippi. The AP's Mark Hamrick reports on that and the rest of Thursday's top headlines. (July 10)AP Money MinuteToyota will start producing the hybrid Prius in Mississippi. The move comes as the Japanese automaker adjusts its U.S. manufacturing operations to meet customer demands for smaller, more fuel-efficient vehicles.Toyota already builds a hybrid version of the Camry in Kentucky, but this will be the first time the Prius will be built in the U.S.----------------------------------Dow Chemical has agreed to buy rival Rohm and Haas for more than $15 billion in cash. Dow hopes the deal will fuel its growth in a more lucrative wing of the chemical-making business. The $78 per-share deal includes money from a Kuwaiti sovereign wealth fund and Warren Buffett's Berkshire Hathaway. The price represents a 74 percent premium to Rohm and Haas' closing share price of $44.83 on Wednesday. ------------------------------ ------General Electric has announced that it wants to spin off its iconic lighting business. The news follows a previous announcement that it planned to sell its appliance business. The combined businesses comprise 50,000 of GE's 300,000 employees, sales of more than $13 billion and a profit of slightly more than $1 billion last year. The spinoff would create a separate publicly traded company owned by GE shareholders.I'm Mark Hamrick with AP Money Minute

Channel: News & Politics
Uploaded: July 10, 2008 at 8:31 pm
Author: AssociatedPress

Length: 01:09
Rating: 5.00
Views: 1082

Tags: chemical  dow  ge  minute:  toyota  

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