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Toyota Matrix likely to be dropped

Toyota will roll out Tundra and Corolla redesigns next year and will revise the RAV4, Avalon and Highlander, but there are some things the division probably won't do. For example, there is a strong possibility that the Corolla-based Matrix hatchback will not be renewed for the United States when the Corolla redesign comes next fall. "If we don't have the Matrix, it won't be the end of the world," said Toyota Division boss Bill Fay at the press introduction of the RAV4 in Phoenix.

Moody's boosts Ford's credit rating

Moody's Investors Service upgraded Ford Motor Co.'s debt to investment grade, culminating the automaker's six-year struggle to win back the Blue Oval and other assets mortgaged in 2006. Moody's is the second agency to upgrade Ford's debt from junk status, paving the way for the company to recover assets it mortgaged in 2006 to stave off bankruptcy. The company raised $23.5 billion in a move that allowed it to avoid government bailouts or bankruptcy when the industry collapsed in 2008.

Met police comissioner nabs taxi 'thief'

BRITAIN'S most senior police officer broke off from a radio interview to make an arrest in north London. Metropolitan Police Commissioner Sir Bernard Hogan-Howe jumped into a police car to pursue a suspect after the driver complained his passengers refused to pay the fare and had stolen cash from him, the BBC reported. Sir Bernard, who was taking part in a pre-recorded interview with BBC London 94.9 Drivetime presenter Eddie Nestor near Bruce Grove station in Tottenham, north London on the issue of budget cuts, jumped into the car in pursuit and later arrested a suspect.