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Toyota to recall 2.7m vehicles worldwide

14 November 2012 Last updated at 10:09 GMT

The Japanese car manufacturer Toyota is recalling 2.7 million vehicles worldwide because of problems with the steering and water pump systems in some cars.

It affects several of their models, including the Avensis, Corolla and Prius.

The company said there have been no reported injuries or accidents, but it has received around four hundred complaints.

Rico Hizon is the BBC's business correspondent in Singapore.