6at4 Business Report: Toyota Fires; Amazon Music; Luxury Cars

June 18, 2012 2:46:35 PM PDT
Today's the big day of Microsoft's mystery announcement; An investigation into Toyota fires continues; Better deals on luxury cars.

Toyota Fires Investigation Expands
The government has expanded an investigation into fires that can start in the doors of several Toyota models. Today, federal safety regulators added 600,000 Camrys, Camry Hybrids, RAV 4s and Yaris vehicles from model years 2007 through 2009. 2008 Highlander Hybrids are also being investigated. The problem is electrical fires that can spark in the driver's door armrest when the power window switch overheats. So far, there have been 161 reported fires. Nine people have been hurt.

Greece Stays on Euro
It looks like Greece has averted a bigger financial disaster. Voters went to the polls over the weekend and it looks like Greece will stay in the Euro, at least for now. That has calmed the worst of investor's fears but now there's renewed concern about Spain's loans which is fueling concern that the debt crisis is getting worse in other parts of the Euro zone.

Luxury Car Deals Improve
Consumers are getting better deals on luxury cars and SUVs. Researcher Autodata says Toyota's Lexus has boosted discounts on cars by 54% this year and by as much as 60% on SUVs. Lexus isn't the only brand offering deals: Mercedes-Benz increased incentives by 11%, and BMW by almost 7%. Analysts say Mercedes, BMW and Lexus are using discounts to boost sales and get an edge in the race for market share.

Amazon Music Service
Bloomberg sources say Amazon.com has reached agreements with the four major record companies to start a music service. The service will let you store songs on a remote server and access them online. It will work similarly to Apple's iTunes and Amazon.com plans to start the service in the first week of July.

Microsoft Unveiling Tablet?
In just a few hours, the rumors will come to an end. Microsoft is making a major announcement. The New York Times is reporting that the company is unveiling a new tablet computer. The announcement is expected at 6:30 our time.


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