Gearshift probe

THE US National Highway Traffic Safety Administration said on Monday it was expanding a defect investigation of 856,000 Fiat Chrysler SUVs and cars because the vehicles may roll away after drivers exit, thinking they have put the transmission in Park. The government’s investigation covers the 2014-15 Jeep Grand Cherokee SUV, 2012-14 Dodge Charger and Chrysler 300. The vehicles under investigation have “E-shift” gear-shifts that operate electronically. NHTSA says it has reports of 314 complaints, including 121 crashes and 30 injuries after vehicles rolled away, some striking buildings, drivers or other cars.

Stocks dumped

ASIAN share markets were scorched yesterday as stability concerns put a torch to European bank stocks and sent investors stampeding to only the safest of safe haven assets. As fear overwhelmed greed, yields on longer-term US Treasury debt hit one-year lows as bond prices rose, the yen surged to a 15-month peak and gold reached its most precious since June. The jump in the yen piled further pressure on Japan’s Nikkei .N225 which sank 3.4 per cent. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.8 per cent, and would have been lower if not for holidays in many centers.

More Stories