Abdel Fattah Al Sisi

Mercedes says recalls 400,000 UK cars on airbag fault

London - Muslimchronicle

Mercedes-Benz is recalling 400,000 UK cars owing to a fault that may deploy an airbag by error, the company said on Monday. A statement issued by the carmaker owned by German giant Daimler said the situation was not related to the airbags crisis at Japanese group Takata. Source:AFPRead more

Honda to start mass recall in China

Beijing - Muslimchronicle

Honda will recall more than 245,000 vehicles in China over concerns about airbags made by troubled Japanese giant Takata, Chinese authorities said Sunday, dealing another blow to Takata's largest client. The Japanese carmaker and its Chinese joint venture partner Guangqi Honda will start withdrawing vehicles fitted with the potentially faulty airbags beginning October 23 and will include Accord, Fit, City,Read more

Honda reaches $605 mn settlement

Washington - Muslimchronicle

Japanese carmaker Honda reached a $605 million settlement in a lawsuit over defective airbags in millions of cars on American roads, the legal team for the victims said Friday. Honda joins Nissan, Toyota, BMW, Mazda and Subaru in agreeing a deal to settle a lawsuit, replace the defective airbags from now-bankrupt Takata, and to compensate car owners. The latest agreementRead more

Japan's airbag giant Takata files for bankruptcy

Tokyo - Muslimchronicle

Japan's crisis-hit car parts maker Takata filed for bankruptcy protection Monday and said its chief executive would quit after a deadly airbag crisis that triggered the auto industry's biggest ever safety recall. The company is facing lawsuits and huge costs over a defect blamed for at least 16 deaths and scores of injuries. The scandal affected almost every major globalRead more

Troubled airbag maker Takata plummets on bankruptcy fears

Tokyo - Muslimchronicle

Takata suffered another crushing collapse on Thursday, plummeting more than 50 percent on fears the airbag maker at the centre of the auto industry's biggest-ever safety recall is headed for bankruptcy. The Tokyo-based car parts giant, facing lawsuits and huge recall-related costs over a bag defect linked to at least 16 deaths globally, has tumbled for four straight days. ItRead more

Airbag maker Takata plummets on bankruptcy fears

Washington - AFP

Takata shares dived again Tuesday, losing one-third of their value in just two days of trading on reports the troubled airbag maker will file for bankruptcy protection and sell its assets to a US company. The embattled stock finished the day at 324 yen, tumbling by nearly 20 percent -- its maximum daily loss limit -- on the Tokyo StockRead more

Takata shares dive 17% on bankruptcy restructuring report

Tokyo - AFP

Takata shares plunged 17 percent on Thursday on a report that two rival suitors are set to propose bankruptcy restructuring plans for the airbag maker at the centre of the biggest-ever auto safety recall. The stock fell by its maximum daily loss limit to close at 717 yen after trading had been suspended in the morning following the rescue plan reportRead more

Tesla and McLaren now included in Takata airbag recall

Washington - AFP

Cars produced by US electric automaker Tesla and Britain's McLaren now are included in the sprawling safety recall for defective Takata airbags, the US Transportation Department said Friday. The two auto brands appeared on a new list issued by the department's National Highway Traffic Safety Administration, bringing the total of brands subject to the recall to 19, including major automakersRead more

Honda profits up on cost-cutting, lifts forecasts

Tokyo - AFP

Japanese automaker Honda said Monday its cost-cutting efforts boosted profits even as overall revenue slumped, allowing it to upgrade annual profit forecasts in the face of a higher yen. Sales dropped on-year for the six months to September owing to the stronger Japanese currency, the company said. But an increase in global vehicle sales and savings from cost-cutting, including accountingRead more

Takata shares dive on bankruptcy buyout report

Tokyo - AFP

Takata shares nosedived on Tuesday after a report said some potential buyers were considering bankruptcy proceedings for the embattled airbag supplier, which has been hit by the global auto industry's biggest-ever safety recall. The Tokyo-listed firm plunged nearly 15 percent after Bloomberg News said private equity firms and auto parts makers were preparing offers for the company, and some wereRead more