Toyota agrees to $16.4m fine

Toyota has agreed to pay a $16.4m (£10.7m) fine in America for failing to report problems with accelerator pedals in some of its vehicles.

The Japanese manufacturer admitted it could have handled the issue better, but insisted that it hadn't been attempting to hide the issue.

As many as 2.3m Toyotas were recalled in America thanks to the sticking accelerator pedal problem at the beginning of the year. The brand was blighted with even more misfortune last week as it announced the global recall of 34,000 Lexus GX 460 and Land Cruiser Prado SUVs.