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Thousands of Tesla cars recalled due to safety issues

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Around 12,000 Tesla vehicles have been recalled due to safety issues associated with a software glitch

The car company recalled nearly 12,000 EVs sold in the US since 2017 which are subject to a safety recall because a communication error which may cause a false forward-collision warning or unexpected activation of the emergency brakes.

The National Highway Traffic Safety Administration (NHTSA) stated that owners of impacted models should contact Tesla as soon as possible.

The California automaker stated that the concern was over 11,704 Model S, X, 3 and Y vehicles, and the recall was prompted after a software update on 23 October to vehicles in its limited early access version 10.3 Full-Self Driving (FSD) (Beta) population.

FSD is an advanced driver assistance system that handles some driving tasks but Tesla says does not make vehicles autonomous.

The National Highway Traffic Safety Administration said Tesla “uninstalled FSD 10.3 after receiving reports of inadvertent activation of the automatic emergency braking system” and then “updated the software and released FSD version 10.3.1 to those vehicles affected”.

The agency confirmed it intends to “continue its conversations with Tesla to ensure that any safety defect is promptly acknowledged and addressed”.

The recent recall follows the NHTSA last month questioning the Elon Musk owned company why it hadn’t issued a recall to address software updates made to its autopilot driver-assistance system to improve the vehicles’ ability to detect emergency vehicles.

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Biden is “discussing” support for Israel over Iran oil strike

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The Biden administration believes it’s still “appropriate” for Israel to continue its ground and air attacks on Hezbollah.

The Middle East is a tinder box as Israel retaliates to Iran’s bombing earlier this week as well as fighting Hamas, Hezbollah and the Houthis in Gaza, Lebanon and Yemen. But what are the economic and geo-political implications? #featured #trending

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Defence shares rise to record high following Middle East attacks

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Stocks retreated Tuesday, with rising tensions in the Middle East cooling investor momentum after a strong quarter.

Oil prices eased and stocks recovered some ground after initial reports, as hopes grew that damage from the attack and any Israeli response would remain limited.

This market drop underscores the delicate balance between geopolitical risk and economic optimism. #featured #trending

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U.S. Feds in no ‘hurry’ to cut rates as confidence in economy grows

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Fed Reserve Chair Jerome Powell indicated the U.S. central bank was not “in a hurry” after new data boosted confidence in ongoing economic growth and consumer spending.

Fed Chair Jerome Powell says “disinflation has been broad-based,” and recent data suggests progress towards the Fed’s 2% inflation target.

Powell says the Fed is not rushing to lower rates but will make decisions based on how the economy evolves.

When asked about rate cuts, Powell says it’s a process that will “play out over time,” signalling a steady but cautious approach. #featured #trending

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