Toyota toppled

Ford displaced Toyota as the No. 2 auto maker in the US with 1.97 mil lion vehicles sold in 2010, up 17 percent from 2009, compared with Toyota’s sales of 1.76 million cars and trucks. GM retained the top spot with US sales of 2.22 million vehicles, an increase of 7 percent.

Stanford trial

A 2-year trial post ponement sought by lawyers for accused swindler Allen Stanford is excessive, US prose cutors said.

Morgan COO

Morgan Stanley has named Jim Rosenthal, the bank’s head of tech nology, as COO.

Pay clawback

Wilmington Trust, the recipient of a $330 million bailout, took back about $2 million from CEO Donald Foley because the pay broke Troubled Asset Relief Program rules.

Orders up

American factories un expectedly received more orders in Novem ber. The 0.7 percent in crease in bookings re ported by the Commerce Dept. topped the median forecast by Bloomberg News which called for a 0.1 percent drop.