Action on Unemployment Promised
French Prime Minister Dominique de Villepin vowed the government would devote "all its energy" to fighting unemployment as reports showed the May jobless rate remained at 10.2 percent and June consumer confidence at its lowest point since March 2003.
Toyota to Build Second Canadian Plant
Toyota Motor said it will spend $653 million to build a seventh North American assembly plant to keep up with demand in its most profitable market. The Woodstock, Ontario, plant, set to open in 2008, will employ 1,300 people and build 100,000 vehicles a year when it reaches full capacity, the company said.
KPMG Canada Settles SEC Charges
KPMG International's Canadian unit agreed to pay $73,682 and adopt safeguards to settle a Securities and Exchange Commission claim that it lacked independence in auditing Southwestern Water Exploration. The Toronto-based firm did not admit or deny wrongdoing. Partners Gary Bentham and John Gordon also settled without admitting or denying the findings, the SEC said.
AMD Japan Sues Intel Unit
Advanced Micro Devices' Japan unit said it has filed two lawsuits against Intel's Japanese unit for $55 million in damages. AMD Japan claims Intel violated Japan's antitrust laws and says Intel's trading practices have caused damage to AMD. AMD in Japan said the lawsuit is part of AMD's broader antitrust lawsuit against Intel.
Koizumi Says Mad Cow Case Won't Alter Ban
Prime Minister Junichiro Koizumi said a recent case of mad cow disease detected in a United States-born cow will not affect Japan's decision to resume beef imports from the United States. Washington has been pressuring Tokyo to lift its 17-month ban on U.S. beef.
Compiled from staff and news service reports.