UPDATE 6-Japanese airbag maker Takata files for bankruptcy, gets Chinese backing
* Honda says no final agreement on recall liabilities (Adds detail on inflator production, vehicles that remain unrepaired)
BRUSSELS, April 26 The European Commission said on Wednesday it started legal action against Hungary over the country's new higher education law passed on April 4th, saying it was not compatible with the fundamental internal market freedoms.
The Commission, which is the guardian of European Union laws, said that after an in-depth assessment, it concluded that the law is not compatible with the freedom to provide services and the freedom of establishment as well as the right of academic freedom, the right to education and the freedom to conduct a business as provided by the Charter of Fundamental Rights of the European Union.
The Commission therefore sent a letter of formal notice to Budapest, to which the Hungarian authorities have one month to respond.
"A letter of formal notice is a first step towards an infringement procedure but there time for Hungarian authorities to react to the letter of formal notice," EU Commission Vice President Valdis Dombrovskis told a press briefing.
"Following the reactions, the Commission will decide on further steps." (Reporting By Jan Strupczewski; Editing by Alissa de Carbonnel)
NEW YORK, June 26 The U.S. dollar hit a more than one-week low against the euro on Monday after weaker-than-expected economic data fueled doubts about the Federal Reserve's interest rate hike timeline, while caution ahead of speeches from central bank officials limited the move.