Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains 
Anthropic Eyes $350 Billion Valuation as AI Funding and Share Sale Accelerate 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
Trump Endorses Japan’s Sanae Takaichi Ahead of Crucial Election Amid Market and China Tensions 
FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns 
Dollar Steadies Ahead of ECB and BoE Decisions as Markets Turn Risk-Off 
Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election 
Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
South Korea’s Weak Won Struggles as Retail Investors Pour Money Into U.S. Stocks 
Nintendo Shares Slide After Earnings Miss Raises Switch 2 Margin Concerns 
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Tesla Inc. has recalled a combined total of 40,000 units of its Model S and Model X electric vehicles. The possible loss of power steering assist has been cited for this latest recall.
It was said that owners may experience a sudden loss of power steering assist when they are driving on rough roads. The issue may also occur after hitting bumps or a pothole while on a drive.
According to Reuters, the U.S. National Highway Traffic Safety Administration (NHTSA) said the issue that caused the new Tesla recall may require greater steering effort, especially at low speeds. If this happens, the risk of a crash is heightened.
The Austin, Texas-based EV maker revealed it found 314 alerts for this case involving some Tesla models in the United States. The company said these may be related to the recall, but it has not received any reports of injuries or deaths due to the power steering assist issue.
In any case, Tesla has released a firmware update that will fix the recalled 2017-2021 Model S and Model X EVs. The update is expected to solve the flaw that could be causing the loss of power steering assistance in certain situations.
The NHTSA confirmed that Elon Musk’s automotive company already started rolling out the update on Oct. 11. It also includes new calibration values for the electronic power assist steering system.
The highway traffic and safety agency said that a week after the release of the software update, Tesla received notifications related to the calibration values thus, on Oct. 25, the automaker decided to issue a voluntary recall. As of Nov. 1, about 97% of the recalled units have installed the latest update, and the issue was already resolved.
While Tesla has already addressed the glitch, it has a separate recall for the 2021 Model S vehicles. The company is recalling 53 units of this model as their exterior side rearview mirrors do not comply with the “Rear Visibility” requirements in the U.S.
The side rearview mirrors were said to have been built for the European market. These were said to have been installed during U.S. service visits. Meanwhile, Tesla has recalled a total of 3.4 million EVs this year in 17 separate recall instances.
