Tesla is recalling 7,600 vehicles in the United States because the driver’s air bag cushion may tear during deployment, the National Highway Traffic Safety Administration said Thursday. The recall covers some 2021 Model X and Model S vehicles, the auto safety agency said. Owner notification letters are expected to be mailed on Jan. 7.
Tesla Recalls 7,600 US Vehicles for Potential Air Bag Issue
November 18, 2021
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Obama-Era Economic Adviser Tears Into Biden Spending Plans, Warns about ‘Embedded’ Inflation
Steven Rattner, head of the Auto Industry Task Force under former President Barack Obama, is the latest Obama-era economic aide to sound the alarm on inflation, asking how the Biden administration could have gotten “this critical issue so wrong,” warning the Build Back Better plan could exacerbate inflationary pressures. Rattner made the remarks in an…
US Confident on Developing Business Framework With Indo-Pacific Partners: Commerce Chief
November 18, 2021
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KUALA LUMPUR—The United States is confident about developing a framework with Indo-Pacific partners to strengthen business and workforce, U.S. Commerce secretary Gina Raimondo said on Thursday. Raimondo said in a teleconference call that the framework was not envisioned as a typical free trade deal, and must be inclusive, flexible so many countries can participate.
S&P Says It Believes China Evergrande Default Still ‘Highly Likely’
November 18, 2021
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HONG KONG—S&P Global Ratings said on Thursday a default is still “highly likely” for China Evergrande Group despite its recent bond coupon payments because it has a bigger test in March and April next year, facing a total of $3.5 billion maturities in dollar bonds. “The firm has lost the capacity to sell new homes,…
Dollar Dips From 16-Month Highs as Rally Takes a Pause
November 18, 2021
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LONDON—The dollar slipped back from a 16-month peak on Thursday, losing ground on the euro and Australian and New Zealand dollars as traders assessed whether the U.S. currency’s recent surge was starting to stall. The dollar has rallied in recent weeks as traders bet on tighter U.S. monetary policy. Stronger-than-expected inflation numbers in the United…
Global Shares Mixed After US Stocks Fall Back
November 18, 2021
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TOKYO—Global shares were mixed Thursday after stock indexes shuffled lower on Wall Street. France’s CAC 40 edged up nearly 0.2 percent in early trading to 7,167.47. Germany’s DAX gained 0.2 percent to 16,275.17. Britain’s FTSE 100 fell 0.2 percent to 7,277.41. The future for the Dow industrials was trading 0.2 percent higher, while the future…
ECB Sees Rising Risk That Housing Bubble Will Burst
FRANKFURT—The eurozone housing market is heating up, increasing the chances of a correction in both the residential and commercial segments, the European Central Bank said in a stability report on Wednesday. With families building up savings during pandemic and increasingly working from home, demand for property is on the rise, pushing house price growth to…
Canadian Shippers Find Few Easy Alternatives for Grain, Oil Cut Off by Flood
WINNIPEG, Manitoba—Canadian exporters of commodities from grain to fertilizer and oil scrambled on Wednesday to divert shipments away from Port of Vancouver, which floods have isolated, but they found few easy alternatives. The disaster, which has killed at least one person, has caused the latest blockage in the congested global supply chain, driving up inflation…
Americans Splurge on Holiday Shopping, Retail Sales Beat Expectations
The fourth quarter started off with a healthy surge of retail sales, giving the economy a much-needed boost, as Americans eagerly started their holiday shopping early on to avoid empty retail shelves amidst supply chain bottlenecks and resulting shortages. The Commerce Department reported Tuesday that retail sales, a measure taken to calculate consumer spending at…
Canada’s Climate Finance Record a Hint at Global Initiative’s Challenges
Climate finance, one of the pillars of the UN climate conference, has a number of shortcomings for which Canada’s experience in the arena can provide some lessons.
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