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☆ Kia recalls more than 400,000 Telluride SUVs that can move while in park
▼ + stars: | 2024-03-28 | by ( Samantha Delouya | ) edition.cnn.com time to read: +1 min

CNN —Kia has recalled 427,407 of its Telluride SUVs because they can roll away while in park. Demand for the Telluride has been so high that in some years, Kia couldn’t produce them fast enough. According to the NHTSA report, though, a main component of the SUV’s steering wheel may have been improperly assembled on the recalled vehicles. The report said affected vehicles could make a grinding noise when the damage occurs. All affected Telluride owners should bring their cars to a Kia dealer to get updated electronic parking brake software installed.

Persons: CNN — Kia, Kia couldn’t Organizations: CNN, Telluride, National, Traffic Safety Administration, Kia, NHTSA Locations: Telluride

☆ I steered ships like the Dali for 13 years. Entering and leaving a port is extremely challenging — here's what should have been done in Baltimore.
▼ + stars: | 2024-03-28 | by ( Claire Turrell | ) www.businessinsider.com time to read: +6 min

Sachin Saxena is a former ship captain who spent 13 years navigating the globe on large ships. AdvertisementThis as-told-to essay is based on a conversation with Sachin Saxena, a 45-year-old former ship captain from Singapore. I captained ships transporting liquid petroleum gas from Asia to the United States for 13 years, from 1997 to 2010. Entering or leaving a port is one of the most challenging parts of any voyage. This will start about 45 seconds after the ship's power has failed.

Persons: Sachin Saxena, —, Dali, Francis Scott Key, aren't, I'd Organizations: Service, Baltimore Locations: Dali, Singapore, Asia, United States, Baltimore

☆ Investing legend Jeremy Grantham sounds the alarm on a stocks bubble, blasts bitcoin, and says the dollar's still king
▼ + stars: | 2024-03-26 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

The stock market "shows every sign of being just as crazy" as it's ever been, the GMO cofounder and long-term investment strategist told the Insightful Investor podcast in a recent conversation. AdvertisementThe veteran investor underscored that prolonged bull markets typically begin when unemployment is high, profit margins are depressed, and stock valuations are beaten down. Current conditions are the polar opposite of that, putting stocks in "double jeopardy" as both profits and valuations may plunge, Grantham said. Related storiesThe stock market has staged big rallies during boom times a couple of times before, including in 1929 and 1999, but those "ended incredibly badly," he said. Grantham also tackled the topic of de-dollarization and whether the dollar might lose its status as the world's reserve currency.

Persons: —, Jeremy Grantham, Grantham Organizations: Service, Business, Kodak, Polaroid, greenback

☆ Elon Musk requires 'FSD' demo for every prospective Tesla buyer in North America
▼ + stars: | 2024-03-25 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +3 min

While all new Tesla vehicles have a standard driver assistance system installed called Autopilot, the company's FSD option costs $199 per month for most customers in North America. Tesla's FSD system does not turn cars into autonomous vehicles. According to the Tesla owners' manuals, drivers must remain attentive to the road and ready to steer or brake at any time when using FSD or FSD Beta. Owners with FSD can also get access to the FSD Beta system, which allows them to test and help debug newer driver assistance features on public roads. Under pressure from the National Highway Traffic Safety Administration, Tesla has implemented voluntary recalls to improve the safety of its Autopilot, FSD and FSD Beta systems in recent years.

Persons: Elon, Elon Musk, Musk, FSD, Tesla, Troy Teslike Organizations: Bloomberg, CNBC, Beta, National, Traffic Safety, Tesla Locations: Gruenheide, Germany, North America

☆ Australian Grand Prix: Carlos Sainz wins as Max Verstappen retires from race
▼ + stars: | 2024-03-24 | by ( Issy Ronald | ) edition.cnn.com time to read: +2 min

CNN —Carlos Sainz claimed an impressive victory at the Australian Grand Prix on Sunday, breaking Max Verstappen’s dominant grip over this F1 season as the Red Bull driver was forced to retire from the race. The Spaniard began the race second on the grid, behind pole-sitter Verstappen, and stuck close to the three-time world champion before easily overtaking him on the second lap to take the lead. For just the first time in two years, he retired from a Grand Prix, citing brake failure. Of course you always want to finish the races but it’s a mechanical sport,” Verstappen said following his first retirement since the 2022 Australian Grand Prix. Mechanics deal with the smoke coming out of Verstappen's car in the pit lane.

Persons: CNN — Carlos Sainz, Max, Red Bull, Oliver Bearman, Verstappen, ” Verstappen, Scott Barbour, Charles Leclerc, “, ” Sainz, Charles, ” Lando Norris, McLaren, Oscar Piastri, Sergio Pérez, Lewis Hamilton, George Russell Organizations: CNN, Prix, Saudi, Spaniard, Getty, Sky Sports Locations: Red

☆ Angela Chao's death comes after years of complaints to federal regulators about Tesla's reverse gear shift
▼ + stars: | 2024-03-13 | by ( Katherine Long | ) www.businessinsider.com time to read: +5 min

She told a friend she often accidentally put the car in reverse instead of drive. But instead of putting the car into drive, she accidentally put it in reverse. Business Insider found 12 complaints related to the Tesla reverse function in a database of automobile consumer complaints kept by the US Department of Transportation. The other five complaints were from people who said their cars appeared to switch between drive and reverse without warning. The federal database where BI located 12 concerns about reverse shifting contained 4,228 total complaints related to Teslas.

Persons: Angela Chao, Tesla, —, Chao, they'd, Teslas, It's Organizations: Service, Street Journal, Business, US Department of Transportation, Regulators, Traffic Safety Administration, Department of Transportation, Tesla, Drivers Locations: Austin, Teslas

☆ I went car-free in the suburbs when my vehicle needed repairs. I'm happier and healthier, and wish I did it sooner.
▼ + stars: | 2024-03-12 | by ( Michael Kavate | ) www.businessinsider.com time to read: +6 min

The 10-minute walk took me past a row of colorful houses and apartments, red-and-yellow nasturtiums poking from their yards. The train ride, too, gave me precious time to read. It turned out swapping the train for two wheels took a bit more sweat, but no more time at all. My route took me under freeways, but most of the streets I took were so quiet that I could hear birds singing. AdvertisementGiving up my car has made me healthier, happier, and more connected to my neighbors than before.

Persons: I'd, California's, I've Organizations: Service, Oakland Locations: Los Angeles, America, South Berkeley, Oakland, Berkeley, Chance

☆ The Fed 'went crazy' with rates and did big damage to the real estate market, billionaire mogul Barry Sternlicht says
▼ + stars: | 2024-03-07 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +5 min

The real estate market is "collateral damage" in the Fed's inflation fight, Barry Sternlicht said. AdvertisementThe commercial real estate market is hurting, and that's largely thanks to the Federal Reserve's aggressive rate hikes which have battered the economy, real estate billionaire Barry Sternlicht said. In an interview on "In Depth with Graham Bensinger," the real estate investor and Starwood Capital CEO sounded off the Fed's policy-tightening campaign since early 2022. AdvertisementLast year, Sternlicht warned of a "Category 5 hurricane" coming for the real estate market, which he believed could be followed by a recession. Still, Sternlicht said he was optimistic about the real estate market going forward, and while property prices have plunged, that creates investment opportunity.

Persons: Barry Sternlicht, I've, Sternlicht, —, Graham Bensinger, Morgan Stanley, Sternlict, Powell, Joe Biden Organizations: Starwood, Service, Starwood Capital CEO, Bloomberg, Fed, Wall, Infrastructure Investment, Investors

☆ Inside the Massive Repair Shops Where Subway Cars Go for a Makeover
▼ + stars: | 2024-03-01 | by ( Christopher Payne | David Waldstein | ) www.nytimes.com time to read: 1 min

Every single wheel, motor, brake, axle, wire and door on every subway car gets completely refurbished every six to 12 years at the Coney Island Overhaul Shop in Brooklyn or its sister facility at 207th Street in Manhattan. The work is part of a scheduled maintenance program, introduced in 1989 and designed to prevent breakdowns before they occur. The system works much like a scheduled tuneup on an automobile. Trains roll into the facilities, where they are disassembled, reconditioned to near-factory specifications, and then sent back out into a railroad that functions as New York’s vascular system, pumping more than a billion riders across 345 million miles each year, 24 hours a day, every day.

Locations: Coney, Brooklyn, Manhattan

☆ Fed Chair Powell and jobs data take center stage next week as Wall Street weighs interest rate outlook
▼ + stars: | 2024-03-01 | by ( Sarah Min | ) www.cnbc.com time to read: +8 min

Next week, the first full trading week of March, macroeconomic concerns will take center stage for investors. Next week, the Fed chief is largely anticipated to stick to the same talking points in testifying before Congress. In fact, the February jobs report, due out next Friday, is expected to show a moderation in payroll gains. Hourly Earnings preliminary (February) 8:30 a.m. Average Workweek preliminary (February) 8:30 a.m. Manufacturing Payrolls (February) 8:30 a.m. Nonfarm Payrolls (February) 8:30 a.m. Private Nonfarm Payrolls (February) 8:30 a.m. Unemployment Rate (February) — CNBC's Michael Bloom, Jeff Cox and Yun Li contributed to this report.

Persons: Jerome Powell, Powell, Shannon Saccocia, Kim Forrest, Webull, Michael Hartnett, CNBC's Yun Li, Melissa Brown, Brown, Wealth's Saccocia, Saccocia, Nonfarm Payrolls, —, Michael Bloom, Jeff Cox, Yun Li Organizations: Federal, Fed, Capitol, Nasdaq, Dow Jones, FactSet, Barclays, Bokeh Capital Partners, Labor Department, Bitcoin, BofA Global Research, Apple, Nvidia, Ross Stores, Costco Wholesale, Kroger, . Semiconductor, Broadcom, PMI, PMI Services, Services PMI, Ross, Target, ADP, Labor, Consumer Credit Locations: U.S, REITs, Japan

For years, Chinese companies and their contractors have been slaughtering millions of donkeys across Africa, coveting gelatin from the animals’ hides that is processed into traditional medicines, popular sweets and beauty products in China. But a growing demand for the gelatin has decimated donkey populations at such alarming rates in African countries that governments are now moving to put a brake on the mostly unregulated trade. The African Union, a body that encompasses the continent’s 55 states, adopted a continentwide ban on donkey skin exports this month in the hope that stocks will recover. Rural households across Africa rely on donkeys for transportation and agriculture. Yet donkeys only breed a foal every couple of years.

Organizations: African Locations: Africa, China, African Union

☆ Wife of Tesla employee who died in what may have been the first 'full self-driving' crash said she and her husband were 'guinea pigs'
▼ + stars: | 2024-02-14 | by ( Katherine Tangalakis-Lippert | Hannah Getahun | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. If what Rossiter said is true, the incident — which Tesla has so far refused to acknowledge publicly — would be the first known fatality linked to the car company's full self-driving technology. Bass and representatives for Tesla did not immediately respond to a request for comment from Business Insider. Tesla's disclaimer for its current self-driving technology reads: "Autopilot, Enhanced Autopilot, and Full Self-Driving Capability are intended for use with a fully attentive driver, who has their hands on the wheel and is prepared to take over at any moment. However, the Full Self-Driving technology — meant to maneuver Tesla vehicles through nearly any scenario — has not been definitively tied to any deaths.

Persons: —, Hans von Ohain, Tesla, Erik Rossiter, Ohain's, Ohain, Rossiter, Robert Madden, Madden, Nora Bass, Hans, Musk, Bass Organizations: Service, The Washington Post, Business, Patrol, San Locations: Colorado, The, San Francisco, Oakland

DETROIT (AP) — General Motors is adding about 350,000 miles (563,000 kilometers) of roadways in the U.S and Canada to the area where drivers can use the company's “Super Cruise” partially automated driving system. Super Cruise also has radar in addition to camera sensors, and uses both to spot obstacles, the company said. Tesla's driver monitoring system relies on detecting torque from hands on the steering wheel to make sure drivers are paying attention. Critics say that's not enough to make sure drivers are staying alert. Before the expansion, Super Cruise was able to work on about 400,000 miles (644,000 kilometers) of roads, largely interstate highways or major roads connecting larger cities.

Persons: Tesla, GM, Cruise, Kelly Funkhouser, ”, Funkhouser, Teslas Organizations: DETROIT, —, GM, Consumer, Drivers Locations: U.S, Canada, Fauquier County , Virginia

☆ Consumer prices rose 0.3% in January, more than expected, as the annual rate moved to 3.1%
▼ + stars: | 2024-02-13 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Inflation rose more than expected in January as stubbornly high shelter prices weighed on consumers, the Labor Department reported Tuesday. Economists surveyed by Dow Jones had been looking for a monthly increase of 0.2% and an annual gain of 2.9%. Shelter prices, which comprise about one-third of the CPI weighting, accounted for much of the increase. The index for that category rose 0.6% on the month, contributing more than two-thirds of the headline increase, the BLS said. Fed officials expect inflation to recede back to their 2% annual target in large part because they think shelter prices will decelerate through the year.

Persons: Dow Jones Organizations: of Labor Statistics, Labor Department, BLS, Energy, Stock, Dow Jones, Federal Reserve

☆ I drove the hottest Chinese EV in Europe — and America is definitely missing out
▼ + stars: | 2024-02-07 | by ( Alex Goy | ) www.businessinsider.com time to read: +7 min

(And in other places, like North America, the MG brand is known for tiny vintage sports cars and little else.) The 2024 MG MG4 XPower. Alex GoyMG decided to send me the MG4 XPower, the fastest one you can get, as I am a hooligan. The interior of the MG MG4 XPower. Driving the MG MG4 XPower on the road.

Persons: It's, MG4 XPower, Alex Goy MG, you'd, there's, XPower, Alex Goy, Apple CarPlay, Uber, MG's, it's Organizations: Service, SAIC, TF, Business, MG4, Audi, EV, MG Locations: North America, United Kingdom, it's, Europe, It's, America, London

☆ Tex McIver — an Atlanta attorney sentenced to life — may walk out of prison after admitting he killed his wife
▼ + stars: | 2024-02-04 | by ( Christina Maxouris | ) edition.cnn.com time to read: +14 min

Behind Diane sat her husband, Claud Lee “Tex” McIver, an attorney with powerful political connections, with a gun in his lap. Claud "Tex" McIver enters the courtroom holding a bible filled with papers before his sentencing at the Fulton County courthouse in Atlanta in May 2018. A family photo of Tex McIver and his wife, Diane. “There is no doubt that Tex McIver depended on his wife’s money,” defense attorney Bruce Harvey said in trial. Tex McIver pleaded guilty to involuntary manslaughter in the death of his wife, Diane, on Friday, January 26, 2024.

Persons: Dani Jo Carter, Carter, Diane McIver, Diane, Claud Lee “ Tex ” McIver, “ Tex, ” Diane muttered, Claud, Tex, McIver, Alyssa Pointer, Fani Willis, retry McIver, Robert McBurney, McIver’s, –, he’s, Don Samuel, Diane chatted, Tex McIver, ” McIver, Seleta Griffin, Tex McIver’s, Griffin, Diane McIver's, Hyosub Shin, Zuma, ”, Clint Rucker, “, ” Prosecutors, ” Griffin, Bruce Harvey, Prosecutors, court’s, codicil, Adam Abbate, Samuel, Amanda Clark Palmer, CNN’s Jamiel Lynch Organizations: CNN, Ford Expedition, Georgia Supreme, WSB, Atlanta, TNS, ”, Prosecutors Locations: Atlanta, Fulton, Georgia, Fulton County, ” Fulton County, Putnam County, Buckhead, “, –

DETROIT (AP) — Tesla is recalling nearly all of the vehicles it has sold in the U.S. because some warning lights on the instrument panel are too small. It covers the 2012 through 2023 Model S, the 2016 through 2023 Model X, the 2017 through 2023 Model 3, the 2019 through 2024 Model Y and the 2024 Cybertruck. Tesla has already started releasing the software update, and owners will be notified by letter starting March 30. The recall comes as the agency steps up scrutiny of Tesla vehicles. The recall is due to problems with the automatic steering assist function and applies to 1.6 million imported Tesla Model S, Model X, Model 3 and Model Ys.

Persons: Tesla, BYD Organizations: DETROIT, NHTSA, Administration, Market, Tesla Motors, Tesla Locations: U.S, China, Beijing, Shanghai, BYD

☆ Tesla Recalls About 2.2 Million Electric Vehicles Over Warning Light Font Size
▼ + stars: | 2024-02-02 | by ( Jenny Gross | More About Jenny Gross | ) www.nytimes.com time to read: +1 min

Tesla is recalling about 2.2 million vehicles because the font on the warning lights panel was too small to comply with safety standards, the National Highway Traffic Safety Administration said in a notice published on Friday. “Warning lights with a smaller font size can make critical safety information on the instrument panel difficult to read, increasing the risk of a crash,” the agency said in the notice. Tesla, the world’s dominant maker of electric vehicles, is releasing a software update that will fix the issue, free of charge, the National Highway Traffic Safety Administration said. The models affected include the 2012 to 2023 Model S, the 2016 to 2024 Model X, the 2017 to 2023 Model 3, 2019 to 2024 Model Y, and 2024 Cybertruck vehicles. That recall covered nearly all cars the company had manufactured in the United States since 2012.

Persons: Tesla Organizations: Traffic Safety Administration, U.S Locations: United States

☆ U.S. auto safety agency upgrades probe into Tesla power steering loss
▼ + stars: | 2024-02-02 | by ( ) www.cnbc.com time to read: +4 min

U.S. safety regulators have upgraded their probe into Tesla vehicles over power steering loss to an engineering analysis - a required step before the agency could demand a potential recall. The National Highway Traffic Safety Administration (NHTSA) on Friday said the investigation covers about 334,000 Model 3 and Model Y vehicles from the 2023 model year. Some drivers reported harrowing tales of sudden power steering outages at speeds that nearly caused accidents. Some Tesla owners reported an inability to turn the steering wheel while others reported an increase in required effort. The latest recall includes vehicles across Tesla's various models, including the Model S, Model X, 2017-2023 Model 3, Model Y and 2024 Cybertruck vehicles, the NHTSA said.

Persons: Tesla, couldn't, NHTSA's, Sophie Shulman, Tesla's Cybertruck Organizations: Tesla, Traffic Safety Administration, Reuters, NHTSA, Consumer Locations: Encinitas , California, U.S, United States

The pilots of the London-bound American Airlines Boeing 777 took a wrong turn on a taxiway alongside two perpendicular runways. Instead, they crossed 4L just as a Delta Boeing 737 began its takeoff roll down the same runway. A controller warned the American crew about a “possible pilot deviation," and gave them a phone number to call, which the captain did. The cockpit voice recording from inside the American plane was taped over during the six-hour flight to London and lost forever. Investigators said they tried several times to interview the American pilots, but the pilots refused on advice of their union, which objected to the NTSB recording the interviews.

Persons: John F, “, Michael Graber, ”, Graber, Traci Gonzalez, Jeffrey Wagner, — Organizations: American Airlines, Delta Air Lines, National Transportation Safety, Kennedy International Airport, U.S, Federal Aviation Administration, American Airlines Boeing, Delta Boeing, Delta, London, NTSB, Allied Pilots Association, FAA Locations: New York, London

MINNEAPOLIS (AP) — A Minnesota state trooper accused in the fatal shooting of motorist Ricky Cobb II can remain free without bail while awaiting trial, a judge ruled Monday during a brief court hearing. Trooper Ryan Londregan must surrender his passport and avoid contact with witnesses and Cobb's relatives, the judge ruled. Seide told Cobb he was under arrest while Londregan reached inside, unlocked the doors and began opening the passenger door. The complaint said Cobb’s car began to slowly move forward. Seide and Trooper Garrett Erickson said they believed lethal force was necessary, according to a court document filed by the defense.

Persons: Ricky Cobb, Ryan Londregan, Londregan, Cobb, “, Rashad Cobb, Chris Madel, Madel, ”, George Floyd, Derek Chauvin, Brett Seide, Seide, Garrett Erickson, ” Seide, Octavia Ruffin, —, “ We’re, ” Ruffin, Jim Salter Organizations: ”, Ford Fusion, “ Locations: MINNEAPOLIS, Minnesota, Minneapolis, Ramsey County, Ramsey, O'Fallon , Missouri

There was no active arrest warrant, but the troopers checked in with Ramsey County officials, who asked that Cobb be arrested. Londregan arrived and went to Cobb’s passenger door while Seide approached the driver’s side of Cobb’s car, according to the complaint. The troopers asked Cobb to get out of the car, which had its doors locked and front windows down, according to the complaint. Seide told Cobb he was under arrest while Londregan reached inside, unlocked the doors and began opening the passenger door. According to the complaint, Cobb’s car began to slowly move forward.

Persons: Ricky Cobb, —, Cobb, Ryan Londregan, Rashad Cobb, Harry Daniels, Daniels, We’ve, Chris Madel, Londregan, Brett Seide, Seide, Garrett Erickson, ” Seide, George Floyd, Derek Chauvin, Daunte Wright, Kim Potter, Potter, ___ Trisha Ahmed, @TrishaAhmed15 Organizations: “, Minnesota Police, Peace Officers Association, Ford Fusion, Seide, State Patrol, Brooklyn Center, Associated Press, America Statehouse News Initiative, America Locations: MINNEAPOLIS, Minnesota, Minneapolis, Ramsey County, Ramsey, Brooklyn

☆ Lightning Round: I want to stay away from bitcoin, says Jim Cramer
▼ + stars: | 2024-01-18 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: I want to stay away from bitcoin, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stock including: Westinghouse Air Brake Technology, Marathon Digital Holdings, Gold, Caterpillar, GE and more.

Persons: Jim Cramer Organizations: Westinghouse, Brake Technology, Marathon Digital Holdings, Caterpillar, GE Locations: bitcoin

☆ Teslas crash more than gas-powered cars. Here’s why
▼ + stars: | 2024-01-18 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +6 min

Hertz CEO Stephen Scherr noted that the costs of repairs of an electric vehicle are also much higher. Scherr’s statements echoed findings by insurance analysts at LexisNexis who found that, when vehicle owners switch from gasoline-powered cars to electric cars, they tend to crash more. Drivers also tend to crash somewhat more when switching to gas-powered vehicles, too, but the increase is more pronounced with EVs. Mostly a Tesla thingIn both cases – with Hertz and with LexisNexis – “electric vehicles” largely means Teslas. That suggests there may be something about Teslas that’s causing people to crash more than other cars.

Persons: CNN — Hertz, Stephen Scherr, Teslas, Xiaohui Lu, Lu, Tesla, ” Organizations: CNN, Hertz, EV, LexisNexis, Drivers, Data, Tesla, BMW Locations: China, US

☆ ‘The Social Contract Has Completely Ruptured’: Ireland’s Housing Crisis
▼ + stars: | 2024-01-15 | by ( Megan Specia | ) www.nytimes.com time to read: 1 min

Before sunrise each day, Aoife Diver, a teacher in Dublin, gets into her car and drives for up to 90 minutes from her uncle’s house to the opposite side of the Irish capital. After school, it is back in the car for the reverse commute. On a recent evening, Ms. Diver, 25, sat in stop-and-go traffic, the red of the brake lights in front glowing through the windshield, as dusk turned to darkness. She used to share a house with five friends close to the school where she works in South Dublin. But when her rent and bills reached almost half of her monthly salary last year, she knew she had to move back in with family.

Persons: Diver Locations: Dublin, South Dublin

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