Toyota Admits Prius Brake Problems and Reports a Profit

Toyota Motor (TM) reported it swung to a profit in its fiscal third quarter Thursday, but will likely spend the day and weeks to come explaining how it intends to repair the antilock braking system on thousands of newly redesigned Prius models that came on the market in May. The world's largest automaker admitted the latest problem as it reported a profit of 153.8 billion yen ($1.68 billion) profit in its fiscal third quarter.