Netflix Declines to Raise Bid for Warner Bros. Discovery Amid Competing Paramount Skydance Offer 
Coupang Reports Q4 Loss After Data Breach, Revenue Misses Estimates 
Lynas Rare Earths Shares Surge 7% After Malaysia Renews Processing Plant Licence for 10 Years 
Australia Housing Market Hits Record High Despite RBA Rate Hike 
PBOC Scraps FX Risk Reserves to Curb Rapid Yuan Appreciation 
Tokyo Core Inflation Slows Below 2%, Complicating BOJ Rate Hike Outlook 
Panama Investigates CK Hutchison’s Port Unit After Court Voids Canal Contracts 
FedEx Faces Class Action Lawsuit Over Tariff Refunds After Supreme Court Ruling 
Gold Prices Steady in Asia, Set for Strong February Gains on Safe-Haven Demand 
Stock Market Movers: Dell, Block, Duolingo, Zscaler, CoreWeave, Autodesk, Rocket, MARA 
Strait of Hormuz Oil and LNG Shipments Disrupted After U.S.-Israel Strikes on Iran 
Asian Currencies Slide as US-Israel Strikes on Iran Trigger Oil Surge and Risk-Off Rally 
Strait of Hormuz LNG Crisis Triggers Global Energy Market Shock 
MOEX Russia Index Hits 3-Month High as Energy Stocks Lead Gains 
Trump Warns Iran as Gulf Conflict Disrupts Oil Markets and Global Trade 
Flare, Xaman Roll Out One-Click DeFi Vault for XRP Yield via XRPL Wallets 
Ferrari, the Italian luxury sports car maker headquartered in Maranello, Italy, announced that it would be recalling most of the units it sold since 2005. This is 17 years' worth of luxury vehicles, so the number will reach thousands.
According to Fox Business, Ferrari is recalling the vehicles due to leaky brake fluid, which could lead to possible brake failure. While it may seem that this will be a lot of vehicles, the company estimated that just one percent of the recalled cars are actually affected by the flaw.
In all of the company’s vehicles, 19 of the models that were sold in the last 17 years are at risk of brake failure and this information was based on a report that was filed in July with the National High Traffic Safety Administration. In the report, it was stated that the cars were fitted with ineffective brake fluid reservoir caps that may not efficiently prompt vent pressure.
The defective caps can produce a vacuum "that could potentially leak brake fluid,” and this may cause partial or total loss of braking capability. To solve the problem, Ferrari will be replacing the existing reservoir caps on the cars. In addition, it will also place new software in the vehicles to give warnings to drivers in case a brake fluid leak occurs.
Ferrari also informed car owners who may experience low brake warnings to immediately get off the road. The next thing to do is to call the Ferrari Roadside Assistance so that the vehicle could be towed to the nearest authorized dealer.
The company will be notifying owners and all of its authorized dealers about the recall by Sept. 24. It was noted that Ferrari already had a recall due to a similar issue in October of last year. At that time, the company recalled more than 10,000 car units for brake failure and affected models that were sold between 2010 -2015 and 2016 - 2019.
Meanwhile, the New York Post mentioned that the Italian automaker is recalling more than 23,000 vehicles this time. Some of the Ferrari models that were sold since 2005 are not included in the recall and these are the 575M Maranello, SF90, 599 GTB, and 296.
