Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Firelight Launches as First XRP Staking Platform on Flare, Introduces DeFi Cover Feature 
Dollar Holds Steady as Markets Shift Focus to 2026 Rate Cut Expectations 
OpenAI Moves to Acquire Neptune as It Expands AI Training Capabilities 
Sam Altman Reportedly Explored Funding for Rocket Venture in Potential Challenge to SpaceX 
Tesla Faces 19% Drop in UK Registrations as Competition Intensifies 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
ExxonMobil to Shut Older Singapore Steam Cracker Amid Global Petrochemical Downturn 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
Momenta Quietly Moves Toward Hong Kong IPO Amid Rising China-U.S. Tensions 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
Tesla Expands Affordable Model 3 Lineup in Europe to Boost EV Demand 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
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.
