Toyota ( TM) is trending as the automaker has agreed to pay $1.1 billion to settle a class-action lawsuit over allegations that its cars accelerate unintentionally. The sum will go towards compensating customers for losses they incurred due to the safety defect. About 16 million Toyota, Lexus and Scion vehicles sold in the U.S. are covered by the settlement. Toyota admitted to no fault, despite settling. The company said it would take a one-time pretax charge of $1.1 billion to cover the costs. Toyota said it will create a fund for retrofitting 3.2 million vehicles with technology that helps them stop in a panic situation. Toyota recalled millions of vehicles in 2009 and 2010 due to concerns that throttles could jam in the open position, causing the car to speed up unintentionally and without warning.
Ford ( F) is another popular search. The car manufacturer said it plans to spend $773 million on expanding its manufacturing facilities in 2013. The move will create 2,350 new jobs in southeast Michigan. The move is part of a greater plan to invest $6.2 billion and add 12,000 new jobs by 2015. Ford said the investment will also allow it to save an additional 3,240 jobs. Facilities will also be revamped, as several of Ford's plants are currently running above 100% capacity.
The chatter on Main Street (a.k.a. Google, Yahoo! and other search sites) is always of interest to investors on Wall Street. Thus, each day, TheStreet compiles the stories that are trending on the Web, and highlights the news that could make stocks move. -- Written by Brittany Umar.