Toyota recalls recent vehicles over air bags
Toyota is recalling nearly 188,000 pickups, SUVs and cars worldwide because the air bags may not inflate in a crash. The recall covers 2018-19 Tundra pickups and Sequoia SUVs as well as 2019 Avalon sedans. Toyota says the air bag control computer can erroneously detect a fault when the vehicles are started. With a fault, air bags may not deploy in a crash. The company wouldn’t say if the problem has caused any injuries.
China trade surplus hits a record $34.1B
Chinese exports to the United States have at least temporarily defied forecasts that they would weaken after being hit by punitive tariffs in a fight over American complaints about Beijing’s technology policy. China’s trade surplus with the US widened to a record $34.1 billion in September as exports to the American market rose by 13 percent over a year earlier. Customs data show that exports to the US rose to $46.7 billion, down from August’s 13.4 percent growth.
Citigroup’s $4.6 billion profit tops expectations
Citigroup said Friday that its third-quarter profits rose 12 percent from a year earlier, as the banking conglomerate was able to cut expenses and benefited from lower taxes. That was more than enough to make up for a small drop in revenue. Most of Citi’s profit growth came because of lower taxes. Like other big companies, Citi got a big tax break from the tax law passed last year. The amount of money the bank set aside for income taxes last quarter was down 21 percent from a year earlier.
Autos watchdog urges Hyundai, Kia recall
A nonprofit auto safety group is demanding Hyundai and Kia recall 2.9 million cars and SUVs in the U.S. due to complaints they can catch fire. The Center For Auto Safety said there have been more than 220 complaints to the U.S. government since
2010 about fires and another 200 complaints about melted wires as well as smoke and burning odors. Complaints involve the 2011-14 Kia Sorento and Optima and Hyundai Sonata and Santa Fe. Also included is the 2010-15 Kia Soul. The National Highway Traffic Safety Administration is investigating as part of a 2017 probe into Hyundai and Kia engine failures.