Mercedes-Benz has identified a software glitch in a small number of CLE and E-Class models that could disable certain safety features. The affected vehicles, produced between November 2023 and January 2024, have a version of MBUX software that may deactivate parking assistance systems without warning. This could potentially lead to accidents if the driver is unaware of the issue. The automaker has developed a software update to address the problem, which will be delivered to affected vehicles via over the air (OTA) technology. Mercedes-Benz Recalls CLE and E-Class Models Due to Software Glitch (Mercedes) Mercedes has not received any reports…
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(Bloomberg) — Rivian Automotive Inc. shares tumbled after the automaker cut its annual production target, citing a worsening supply crunch at its lone US assembly plant.Most Read from BloombergThe company now expects production to drop as much as 18% this year, due to an ongoing shortage of a component used to make its electric pickups, sport utility vehicles and commercial vans. Third quarter output and deliveries both came up short of analysts estimates.Rivian’s stock fell 3.3% as of 9:37 a.m. in New York, paring an earlier drop of as much as 7.2%. The shares had plunged about 54% already this…
Cupra, a Spanish automotive brand, is a performance oriented offshoot of Seat, a subsidiary of the Volkswagen Group. Originally established as Seat’s motorsport division in 1996, Cupra gained independence in 2018, focusing on sporty and electric models. While initially based on existing Seat vehicles, Cupra has introduced its exclusive models like the Formentor crossover and the Born electric car. The Formentor, a compact crossover SUV, was Cupra’s first independent model, showcasing the brand’s design language and performance capabilities. The Born, on the other hand, marked Cupra’s entry into the electric vehicle market, offering a sporty and efficient driving experience. Both…
Image source: Getty Images With the entire main market to choose from (and a limited amount of cash to put to work), there will always be a few stocks that I haven’t managed to add to my portfolio. Here are just a couple I want to buy, primarily for the passive income they throw off. Rocketing share price I’ve had my eye on Rio Tinto (LSE: RIO) for a while, hoping that a flagging share price wouldn’t rise until I was in a position to buy. And what’s happened? The FTSE 100 behemoth has climbed almost 17% in value in…
The American luxury brand Cadillac seems to be on a roll lately. From the highly anticipated $130,000 Escalade IQ to the compatibility of GM electric vehicles with Tesla superchargers, there’s a buzz surrounding the brand. The revamped 2025 Escalade boasts a sportier look and a heftier price tag, but that’s not all. Cadillac is clearly signaling its commitment to performance with the opulent Velocity concept and the aggressive Track Pack for the CT5-V Blackwing. The refreshed lineup also retains the high-performance Escalade-V and Escalade-V ESV. While the brand is clearly prioritizing its EV strategy, it hasn’t forgotten about traditional car…
By Patrick Wingrove (Reuters) -One of the largest contract drug manufacturing plants in the U.S. owned by Thermo Fisher Scientific (NYSE:) over the past 10 years has repeatedly breached rules meant to ensure drugs are free of contamination, FDA documents show, including twice this year. The most recent U.S. Food and Drug Administration inspection of Thermo Fisher’s Greenville plant in May identified manufacturing issues for the respiratory syncytial virus drug Beyfortus, a preventive antibody therapy from AstraZeneca (NASDAQ:) and Sanofi (NASDAQ:) for infants and toddlers. The issues were resolved to the FDA’s satisfaction, the FDA and Sanofi said. There is…
In the late 1970s, amidst the fuel crisis and tightening regulations, American luxury carmakers were scrambling to maintain their appeal. Cadillac, once synonymous with powerful performance, sought alternative ways to impress potential buyers. One such experiment was the Eldorado Biarritz power T-top, a feature that was so rare only a handful were ever produced. The power T-top was a novel concept at the time, featuring two electrically actuated panels that slid under one another and together under the center section of the car’s roof. This innovative design allowed for an open air driving experience without compromising the car’s structural integrity…
The Ram 1500 TRX, a formidable off roader with its 702-horsepower V8 engine, has recently been discontinued. This marks the end of an era for the TRX, which was highly praised for its exceptional performance and capabilities. However, the decision to discontinue the TRX without much fanfare has left many fans disappointed, especially considering the recent string of questionable decisions made by Stellantis. While some may have hoped for a power upgrade or a new body style to send off the TRX, it seems that the future of Ram’s off road offerings lies with the upcoming 2025 Ram 1500 RHO,…
(Reuters) -U.S. job growth accelerated in September and the unemploymentrate slipped to 4.1% from August’s 4.2%, further reducing theneed for the Federal Reserve to maintain large interest ratecuts at its remaining two meetings this year. <> by 254,000 jobslast month after rising by an upwardly revised 159,000 inAugust, the Labor Department said on Friday. Economists polledby Reuters had forecast payrolls rising by 140,000 positionsafter advancing by a previously reported 142,000 in August. The initial payrolls count for August has typically beenrevised higher over the past decade. MARKET REACTION:STOCKS: E-minis extended 0.73% higherBONDS: The yield on benchmark U.S. 10-year notesrose to…
Mercedes-AMG has taken a surprising turn with its latest models, opting for six-cylinder engines over the traditional V8s in the C 63 and GLE 63. However, the upcoming CLE Coupe and Cabriolet offer a unique twist: two distinct six-cylinder options, including an AMG-enhanced unit. The CLE 53, powered by this AMG-tuned engine, boasts impressive performance thanks to a combination of turbocharging, electric auxiliary compression, and mild hybrid technology. Delivering 443 horsepower and 413 pound feet of torque, the CLE 53 offers a thrilling driving experience. In contrast to the four cylinder C 63 and GLC 63, the forthcoming CLE 63…