Toyota to boost Subaru stake to more than 20%: sources - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

The deal is due to be approved at a Toyota board meeting on Friday, the people said, declining to be identified because the information has not been made public.

Toyota’s investment is likely to cost more than 70 billion yen based on Subaru’s stock market value, said the Nikkei business daily, which first reported the news. “The plan appears to be to ultimately make Subaru a fully owned subsidiary, to help create a ‘mega Toyota’. This is the first step towards that,” said Takeshi Miyao, managing director of Carnorama, a consultancy.Subaru is particularly strong in sport-utility vehicles and all-wheel-drive technology. The two automakers in June said they planned to jointly develop an electric sport-utility vehicle on a platform produced together, to split costs.

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BREAKING NEWS: Banking strike cancelled by court | IOL Business ReportThe planned banking strike by trade union Cosatu and banking union Sasbo has been stopped in its tracks by a Labour Court ruling on Thursday morning. It is disgusting that the courts sided with those who have their heels on the head of the Workers So much for your ethos Busa You are part of the problem North West or which court? I knew it was not going to happen now, they will probably delay it until next month end.
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