AP Executive Morning Briefing

The top business news from The Associated Press for the morning of Thursday, June 7, 2007:

Toyota Worldwide Hybrid Sales Top 1M

TOKYO (AP) _ Toyota said Thursday global sales of its hybrid vehicles have topped 1 million, a landmark for the Japanese automaker that leads the world in "green" cars. Toyota Motor Corp.'s cumulative sales of gas-and-electric-powered vehicles totaled 1.047 million as of the end of May. Of those, nearly 345,000 hybrids were sold in Japan, while 702,000 were sold abroad, the company said in a statement.

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Defendants Acquitted in Swissair Trial

BUELACH, Switzerland (AP) _ All 19 managers and consultants accused in the collapse of former national carrier Swissair were acquitted Thursday and will receive compensation totaling more than $2 million, the leading judge said. The defendants in Switzerland's largest corporate trial all had denied charges that included damaging creditors, mismanagement, making false business statements and forging documents. Some have blamed the big Swiss banks and the Sept. 11, 2001, attacks for the airline's downfall.

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Inquirer Owner Interested in Dow Jones

PHILADELPHIA (AP) _ The company that owns The Philadelphia Inquirer would be interested in joining a bid to buy Dow Jones & Co., publisher of The Wall Street Journal, The Inquirer reported Thursday. "If there was a formalized bidding process, it would be our intention to participate," said Brian Tierney, chief executive officer of Philadelphia Media Holdings L.L.C.

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Koreas Debate Mineral Exploration Rights

SEOUL, South Korea (AP) _ North and South Korea opened working-level talks Thursday to work out a deal swapping raw materials for mineral exploration rights, the South's Unification Ministry said. The two-day meeting at the North's border city of Kaesong comes a month after Seoul agreed to give Pyongyang $80 million worth of raw materials for making clothes, shoes and soap in exchange for rights to develop mineral resources in the North, the ministry said.

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Oil Prices Mixed on Worries About Iraq

SINGAPORE (AP) _ Oil prices were mixed Thursday as reports of a Turkish military incursion into northern Iraq raised concerns about possible disruptions to Iraqi oil exports. "Any kind of conflict in this region that can potentially upset oil supply is going to boost prices a little bit," said Tobin Gorey, commodity strategist with the Commonwealth Bank of Australia in Sydney. "It probably won't turn into something huge, but you can't run the risk that it does."

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Tokyo stocks climb 0.07 percent

TOKYO (AP) _ Japanese stocks inched up Thursday, led by shipbuilding and trading company shares, reversing an early decline. The Nikkei 225 index rose 12.45 points, or 0.07 percent, on the Tokyo Stock Exchange to finish at 18,053.38 points.

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Walt Disney World, union strike deal

Union members representing about one-third of Walt Disney World's workers approved a more than three-year contract, the company and union said. The contract, approved late Wednesday, includes an enhanced pension plan, an agreement to cooperate on new scheduling plans and increases in pay, with most ranging from 4 percent to 5 percent annually.

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Ford Wins Most Vehicle Quality Awards

DETROIT (AP) _ Ford Motor Co. supplanted Toyota as leader of the pack in J.D. Power and Associates' annual initial quality rankings released Wednesday, grabbing more individual awards than any other automaker for the first time since 1998, when it tied for the top spot. Ford ranked highest in five of 19 segments in this year's survey. That's two better than in 1998 _ the last time a U.S. automaker was on top _ when Ford tied with Toyota and Honda.

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Prudential closes stock research unit

TRENTON, N.J. (AP) _ Prudential Financial Inc. said Wednesday it would close its small stock research and sales business, which had been described by some analysts as "a distraction" with little value. The Newark-based company said operations at Prudential Equity Group would be "substantially wound down" by the end of June, resulting in the elimination of 420 jobs at 13 locations worldwide.

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Officials Say TD Ameritrade Open to Deal

OMAHA, Neb. (AP) _ TD Ameritrade Holding Corp. officials said Wednesday that the company is ready for a possible merger or acquisition as it finishes integrating TD Waterhouse's U.S. retail securities business, amid a push by two hedge funds for the company to merge with E-Trade Financial Corp. or Charles Schwab Corp. A company spokeswoman said Ameritrade is always in talks with other companies but gave no further comment, citing securities regulations. "It is absolutely accurate to say that we have been and are talking with peers in the industry," said Ameritrade spokeswoman Katrina Becker.

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Gold Prices

LONDON (AP) _ Gold bullion opened Thursday at a bid price of $672.30 a troy ounce, up from $667.40 late Wednesday.

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Dollar-Yen

TOKYO (AP) _ The dollar rose slightly in Asia Thursday amid expectations that Japan's interest rates would remain much lower than those in the U.S. or euro-zone.

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