The news is by your side.


Takata to pay $1 billion to settle US air bag probe: sources

NEW YORK: Japan's Takata Corp is expected to plead guilty to criminal wrongdoing as early as Friday as part of a $1 billion settlement with the U.S. Justice Department over its handling of air bag ruptures linked to 16 deaths worldwide, sources said. The settlement includes a $25 million criminal fine, $125 million in victim compensation and $850 million to compensate automakers who have suffered losses from massive recalls, the sources said. The settlement also calls for an independent monitor of the Japanese auto parts…