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Stock Market & Financial Investment News

News Breaks
July 28, 2014
10:30 EDTHYMLFHyundai issues recall for 2015 Sonatas due to potential brake defect
Hyundai is recalling certain model year 2015 Sonata vehicles manufactured April 25 through June 16. Due to a manufacturing error, one or both of the front brake calipers may fracture. If a brake caliper fractures, brake effectiveness would be reduced, lengthening to distance required to stop the vehicle, increasing the risk of a crash. Hyundai contacted the affected owners on June 19 and instructed them not to drive their vehicles. Hyundai dealers will replace the affected brake calipers, free of charge. Reference Link
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April 16, 2015
19:04 EDTHYMLFHyundai looks to institute merit-based pay, Reuters says
Hyundai is looking to overhaul its wage policy, basing pay on merit rather than seniority, reports Reuters, citing a letter by CEO Yoon Gap-han to company employees. "Our wages have reached a critical limit as a manufacturing company... I am concerned that Hyundai may face a situation where it is impossible to produce vehicles at domestic factories anymore," said the CEO. The proposed policy changes would not reduce current wages or yield immediate savings, said the company. Reference Link

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