S&P 500, Nasdaq Slip as Oil Jumps on Iran Tensions 
Goldman Sachs Sees US Stock Buybacks Outpacing Equity Issuance as AI Funding Rises 
US Judge Dismisses Gautam Adani Criminal Charges 
S&P 500, Nasdaq Futures Rise as Iran Risks and CPI Loom 
Anthropic Signs $9.1B AI Data Center Deal With Riot Platforms 
Meta Ordered to Pay $567M Over Child Safety Violations in New Mexico 
Singapore Raises 2026 GDP Growth Forecast as AI Demand Fuels Economy 
Hanwha Offers Up to $1.2 Billion for Austal US Business 
ASX Faces Legal Action Over Failed Blockchain CHESS Project 
Dollar Steady as Markets Await U.S. Inflation Data 
Asian Currencies Steady as Markets Await U.S. Inflation Data 
Sanrio Shares Plunge as Q1 Profit Miss Overshadows Strong Sales 
Canada, US Hold Fresh Trade Talks as August 19 Tariff Deadline Nears 
Nvidia Secures $500 Billion AI Infrastructure Push With Wall Street Giants 
Natura Q2 Profit Plunges 92% as Financial Expenses Weigh on Earnings 
Oil Prices Rise as Hormuz Tensions Threaten Global Supply 
Asian Currencies Steady Ahead of US CPI as Oil Prices Rise 
Jeep issued a recall for new automobile models that include the Grand Cherokee L, Grand Wagoneer, and Wagoneer. The brand that is owned by Stellantis is recalling almost 100,000 vehicles of the said models' latest units.
For its voluntary recall, Jeep cited faulty airbags as the reason. The company explained that the knee airbags may suddenly get disabled without any warning. Jeep further stated that the issue was caused by a software glitch.
Fox Business reported that the airbags installed on the Grand Cherokee L, Wagoneer, and Grand Wagoneer that were released in the second half of 2021 could turn off by themselves. Thus, in case of mishaps, they will not work as they should.
Moreover, based on the documents forwarded to the US National Highway Traffic Safety Administration (NHTSA), the problem was summarized, and it reads: "The Occupant Restraint Controller (ORC) may have incorrect software which can disable the driver, passenger, and knee airbags without warning."
It was stated that the issue could be fixed through the simple updating of the software. However, the Jeep units must still be brought to authorized service centers for a check-up and to complete the update. The recall notice mentioned that the frontal and side curtain airbags are not affected by the issue.
Authorized Jeep dealers will reprogram the vehicle's ORC, and this service will be free of charge. Chrysler is expected to send out recall notification letters to owners of the Grand Cherokee 2021 model year, Grand Wagoneer, and Wagoneer 2022 model year on Dec. 30, 2021. Owners can also directly contact Fiat Chrysler Automobiles US' customer service hotline or the NHTSA for more details and vehicle safety.
It should be noted that the FCA US, LLC's number for this specific Jeep recall is Y79. The company's customer service number is 1-800-853-1403.
Finally, Jeep said that it had not received any reports of accidents or injuries related to the airbag issue yet. The recall also serves as a warning after engineers discovered the glitch during the production process.
