The Presidential Daily Brief

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    Embattled Airbag Manufacturer Takata Files for Bankruptcy

    It’s been a long, slow fall. Nine years after the Japanese company began to recall its defective airbags from tens of millions of vehicles in markets around the world, the 84-year-old firm has finally announced it’ll declare bankruptcy in the U.S. and at home. Takata’s liabilities are estimated to be between $10 billion and $50 billion, and its defective products have been linked to 17 deaths and 180 injuries across 13 automakers. Chinese-owned rival Key Safety Systems is now expected to make a $1.6 billion takeover.

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