| Consumer Reports knocks Honda's new hybrid |
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--(www.FinancialNewsUSA.com)-- 06/30/2009 - Auto Manufacturers industry news provided by Financial News USA. NEW YORK (CNNMoney.com) -- Honda's new hybrid-only Insight, touted as a low-cost competitor to the Toyota Prius was dealt a major blow Monday after it failed to get a thumbs up from the influential magazine Consumer Reports. "The Insight is the most disappointing Honda Consumer Reports has tested in a long time," said David Champion, director of the magazine's auto test center. The magazine roundly pans Honda's (HMC) new hybrid car in its upcoming August issue, criticizing its ride quality, handling, interior noise, acceleration, and rear-seat access. Champion called the car "noisy and stiff-riding," in a statement released by the magazine. Out of 22 currently available hatchbacks and small wagons the magazine has rated, the Insight ranks 21st. Honda defended its car's performance. "Initial feedback from most customers and automotive media regarding the all-new Honda Insight has been very positive," said Honda spokesman Chris Naughton. [Read the full article] CUPERTINO, Calif. -- There was a man in a skirt wearing a red backpack. Another dude was dressed all in black, looking as pale as a vampire and blinking in the sun as he stumbled down the sidewalk. Welcome to the world just on the outskirts of Apple's (Nasdaq: APPL) headquarters. And while Apple spokesman Steve Dowling issued a statement Monday that Jobs is back, kind of, the elusive chief couldn't be glimpsed by anyone wandering around on the sidewalks outside the company's campus Friday. "Steve is back to work. He's currently at Apple a few days a week and working from home the remaining days," Dowling wrote in a statement. "We are very glad to have him back." Jobs had been out on a six-month medical leave, announced in January. Jobs, who was treated for pancreatic cancer in 2004, has said little publicly about his health. [Read the full article] 1 The judge, imposing the maximum prison term allowed, called the convicted swind-ler's crimes "extraordinarily evil" and said Bernard Madoff hasn't told the full story. Before sentencing, some victims of the $65 bil fraud gave emotional statements about losing their life savings. Madoff apologized, telling his victims: "I know that doesn't help you." 2 The Supreme Court overturned a decision that justice nominee Sonia Sotomayor endorsed as an appeals judge, ruling white firefighters were unfairly denied promotion. The 5-4 ruling found New Haven, Conn., was wrong to drop a test's results after no blacks made the cut. It limits employers' scope to use affirmative action to avoid adverse impact suits by minorities. 3 The Supreme Court ruled 5-4 that states can apply some of their laws to big nat'l banks operating within their borders. Lower courts had ruled that only federal agencies could subpoena nat'l regulated banks. [Read the full article] NEW YORK (CNNMoney.com) -- Toyota has teamed up with British ultra-luxury carmaker Aston Martin to sell a version of the iQ city car, a car that is more than two feet shorter than a Mini Cooper. The nearly finished Toyotas (TM) will be shipped to Aston Martin's assembly plant in Gaydon, England. There, the cars' interiors will be trimmed in leather. Aston Martin will make no mechanical changes to the cars, but some cosmetic changes will be made to make them look like little Aston Martins. This version of Toyota's iQ city car will be called the Aston Martin Cygnet. It will cost about $32,000, according to Aston Martin spokeswoman Francesca Smith. That's $85,000 less than the company's least expensive model today, the 420-horsepower V8 Vantage, which starts at about $117,000. It would, however, be about twice the price of the current Toyota iQ on which it's based. [Read the full article] About Financial News USA Financial News USA is a Next Generation Financial Communications firm focused on the distribution of market moving news. Financial News USA has developed leading edge e-publishing tools including programming proprietary RSS feeds and enabling open source press release publishing across its network. Financial News USA has been aggressively expanding its news distribution network by targeting direct feeds to financial news and data providers such as FinancialContent, Yahoo (NASDAQ: YHOO), among others. Financial News USA offers a free news feed available online (www.financialnewsusa.com) to websites and financial services looking for content and for individual investors looking to stay informed on the financial markets. Financial News USA and its affiliates charge each client cash for news distribution and may take an equity position in the companies mentioned herein, please visit the disclaimer at www.financialnewsusa.com. 
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