Recall Financial News

AMSTERDAM (Reuters) -Philips said on Thursday it has reached a settlement to resolve one category of legal claims against it following a major recall of the Dutch medical equipment maker's sleep apnea and respiratory devices.

The U.S. government is taking a big step toward forcing a defiant Tennessee company to recall 52 million air bag inflators that could explode, hurl shrapnel and injure or kill people

Drugs Controller General of India has issued an advisory for patients and healthcare professionals to discontinue the use of popular antacid Digene gel due to safety concerns after drugmaker Abbott initiated a voluntary recall of the impugned product. According to the advisory by the drug regulator, doctors and healthcare professionals should carefully prescribe and inform their patients to «discontinue» its use. It has also asked them to report any adverse drug reaction (ADRs) arising due to its consumption.

By David Shepardson

More than 85,000 highchairs sold at major retailers across North America are being recalled over a fall hazard after a handful of injuries were reported, federal regulators say

Kia is recalling about 320,000 cars in the U.S. to fix a problem that could stop the trunk from being opened from the inside

Peloton managed to beat sales expectations during its fiscal fourth quarter, but the exercise equipment maker reported a bigger loss than anticipated partly due to recall costs and a shift in consumer spending

(Reuters) -Peloton Interactive said it expects to burn cash in the next two quarters due to costs related to bike recall and other expenses, delaying return to a positive cash flow and sending its shares to a record low.

By David Shepardson

More than 1.5 million dehumidifiers are under recall following reports of nearly two dozen fires, the U.S. Consumer Product Safety Commission said Wednesday

Hyundai Motors North America has issued a safety recall of 63,128 cars in Canada and the United States.Of those recalled vehicles, 11,120 are in Canada, Jennifer McCarthy, a spokesperson for the company, told Global News Wednesday.The vehicles are being recalled as a safety measure due to an issue with the transmission electric oil pump for the Idle Stop & Go System (ISG), which poses a potential fire risk.The model year 2023-24 Hyundai Palisade vehicles and model year 2023 Tucson, Sonata, Elantra and Kona vehicles produced for sale in the U.S. and Canada have been affected by the recall.McCarthy said owners can continue to drive the affected vehicles, but they are being advised to park these cars outside and away from structures until the recall remedy is completed.She added that owners of the recalled vehicles will be notified by mail with instructions to bring their vehicles to a Hyundai dealer to inspect and replace the electric oil pump controller if required.“The transmission electric oil pump for the Idle Stop & Go System (‘ISG’) in the subject vehicles might have been assembled with printed circuit boards (‘PCB’) that were damaged during manufacturing by the oil pump controller supplier,” McCarthy said.“A damaged capacitor on the pump controller PCB could impact electrical operation leading to heat damage to the electric oil pump circuit board, connector, and wiring harness.

Nestlé USA has taken swift action to recall specific batches of Nestlé Toll House Chocolate Chip Cookie Dough «break and bake» bars due to reports from consumers regarding the presence of wood fragments in the product.

₹100-crore club in India. The film, starring Sunny Deol, managed to collect over ₹50 crore at the box office on the third day of its release. Meanwhile, Sunny Deol fans are fondly remembering a time when “Iron Man" Robert Downey Jr.

It’s time to check your candle supply again

By David Shepardson

Federal regulators are warning consumers that now-recalled lots of the Tydemy birth control pill “may have reduced effectiveness” due to decreased levels of a key ingredient of the product

Hyundai and Kia are telling the owners of nearly 92,000 vehicles in the U.S. to park them outside because an electronic controller in an oil pump can overheat and cause fires

Around 1,200 airplane engines by Pratt & Whitney have been recalled due to contaminants found in the metals used to make them, which can cause cracks in critical parts. Parent company RTX said last week it recently discovered the contamination, requiring planes that use these engines—built between 2015 and 2021—to be inspected to check whether repairs are needed. The recall is a negative development for RTX’s social credentials associated with the quality and safety of its products.

Trader Joe’s is recalling two cookie products because they may contain rocks, the grocery chain announced Friday

Drugs and Cosmetics Act in the monsoon session of the Parliament that starts this week, a key stakeholder says not enough discussions have been held and it should be recalled. The Association of Indian Medical Device Industry (AiMed), wrote to the Union health minister Mansukh Mandaviya on Tuesday, urging to recall the draft bill. “After the initial invitation of comments we have not been invited for any discussions or the revised draft was not shared with us,” said Rajiv Nath, forum co-ordinator, AiMed. Stating that they are “highly dismayed” that the government has tabled the Draft of New Drugs, Medical Devices and Cosmetics Bill, 2022 for introduction, consideration and passing to the Parliament for the monsoon session to regulate drugs and medical devices without even a single meeting with them as major stakeholders, in a letter to Mandaviya, Nath said that the move has been made in a“strange manner”. “The process was highly flawed with conflict of interest to empower regulators to draft the bill without even seeking inputs from MDTAG (Medical Device Technical Advisory Group) and discussion with AiMeD,” he said. He said that it was strange that the ministry and the CDSCO did not consider the recommendation of the Parliamentary Committee 138th Report released on September 12, 2022 that recommended a separate law for medical devices as was being regularly sought by Indian Manufacturers.

It has been weeks since Bucha was last under Russian control, but the city is still reeling from the war -- and stories of life under occupation keep coming out of the now-infamous site of alleged war crimes by Russian forces.