Iran War Fears Send Oil Prices Surging as U.S. Weighs Ground Troop Deployment 
Elliott Investment Management Takes Multibillion-Dollar Stake in Synopsys 
EA's $15B Debt Offering Draws $25B in Investor Demand Amid Credit Market Turmoil 
Xiaomi Shares Drop After SU7 Launch as Margin Concerns Weigh on Investors 
Iran Threatens Gulf Infrastructure as U.S.-Israel War Enters Critical 48-Hour Window 
Sinopec Posts 36.8% Net Profit Drop in 2025 Amid Weak Petrochemical Margins and Energy Transition Pressures 
Virgin Australia Adjusts Fares Amid Rising Aviation Costs and Middle East Tensions 
Trump Signals End of U.S. Military Campaign Against Iran as Markets Rally 
J.P. Morgan Now Expects Two ECB Rate Hikes Amid Inflation Pressures 
U.S. Markets Post Fourth Straight Weekly Loss Amid Middle East Escalation 
European Stocks Tumble as Iran-Strait of Hormuz Crisis Rattles Global Markets 
Delivery Hero Sells Taiwan Foodpanda to Grab for $600 Million in Debt-Reduction Push 
United Airlines Cuts Flights 5% Amid Soaring Fuel Costs From Iran War 
Global Markets Tumble as US-Iran Tensions Escalate, Oil Surges 
South Korean Stocks Tumble as Hawkish BOK Governor Appointment Rattles Markets 
Goldman Sachs Delays Bank of England Rate Cut Forecast Amid Middle East Inflation Risks 
Hyundai issued a recall for over 390,000 vehicles sold in the U.S. and Canada. The South Korean automaker revealed there are issues on the engine that could cause fires.
Fox Business reported that based on the documents released by the U.S. National Highway Traffic Safety Administration on Tuesday, May 4, Hyundai will recall 203,000 units of its Santa Fe Sport SUVs from 2013 to 2015. This is said to be the largest recall for the company so far.
The issue with the engine
The NHTSA also advised owners of the affected Hyundai cars to park their vehicles outdoors since there are risks of fire. They were also asked to choose a spot far from structures, and they should follow this until the engines are fixed.
It was explained that a fire could break out because the brake fluid can leak into the anti-lock brake computer. When this happens, an electrical short may follow and eventually cause fires.
It was noted that problems with the brake computer already caused at least 18 fires across the United States but fortunately, no injuries were reported.
To address the defect, authorized Hyundai dealers will be replacing the fuse and, if necessary, the computer too. The repairs may begin in June when official notifications from the carmaker are sent to the owners.
Other Hyundai recalls this year
Aside from the Santa Fe SUVs, Hyundai also recalls 187,000 units of Elantra cars from 2019 and 2020, Kona from 2019 to 2021, and Velosters. All of them have 2-liter engines, and they are being recalled for fire and engine failure risks.
The vehicles with 2-0 liter engines are also said to potentially have an issue with the piston rings. It was said that the engines may have been placed in the cars with “inconsistently heat-treated” piston oil rings.
This problem can lead to more oil consumption that may develop into engine troubles, and the car will suddenly stall. Consumer Reports noted that owners may detect this issue if they notice the warning light in the panel followed by a knocking noise from the engine then a burning smell and smoke. Meanwhile, the repairs and parts replacement will be free during the recall period.
