Tokyo - Japan's largest car company, Toyota Motor Corp, was expected to run into the red this fiscal year in its first annual operating loss ever, according to the Japanese financial newspaper Nikkei Friday.
In addition to the worldwide financial crisis, the rapid rise of the value of the Japanese currency, the yen, were named as the main reasons, according to the story, which did not cite sources.
Toyota plans a year-ending press conference Monday at its headquarters in Nagoya, at which is was also expected to substantially sink its earnings forecast for its group, which included Daihatsu and Hino Motors.
Toyota in early November drastically reduced its expectations for its current business year, which ends March 31.
Vienna - Austrian-based car parts supplier Eybl International AG declared bankruptcy Friday and said that the future of its production sites in Central Eastern Europe was still to be determined.
As per the international reports, following a sponsorship deal signed with the Indian automobile giant, the Tata brand name will figure on Formula 1, the world’s most-famed motorsport, which is being considered an ambitious global branding move. 
Tokyo - Japan's largest car company Toyota is expected to run into the red for the year for its first annual operating loss ever, according to the Japanese financial newspaper Nikkei Friday.
San Francisco - Is the US going to switch its dependence on foreign oil for a dependence on foreign battery makers? That's the question posed Thursday by a consortium of US firms who announced their intention to ask the incoming administration of president-elect Barack Obama for a billion-dollar boost.
