Toyota shares up after US settlement seen smaller than expected

Shares of Toyota Motor gained 1.6 per cent on Thursday on relief that its proposal to pay US$1.1 billion to settle US class-action litigation claims over unintentional acceleration in its vehicles was smaller than expected.

Toyota said it would take a one-time pretax charge of US$1.1 billion to cover the estimated costs of the settlement, court filings showed, as the carmaker looks to turn the page on the biggest safety crisis in its history.

via Business feed http://www.scmp.com/business/money/market-snapshot/article/1113436/toyota-shares-after-us-settlement-seen-smaller