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Audi: Water can enter computer, affect engine
Volkswagen's Audi luxury brand is recalling 289,000 SUVs in the U.S. because water can get into a control computer under the back seats. The recall covers certain 2021 and 2022 Q5 and SQ5 Sportback models and some 2018 through 2022 Q5 and SQ5 models.
The company said in documents posted by U.S. safety regulators that water can get to the computer through liquid spilled onto the back seat, or from a leaky body seam. That can cause the computer to shut down and reduce engine power, increasing the risk of a crash.VW says in documents that it is not aware of any crashes or injuries. Dealers will install a cover to protect the computers and seal an underbody seam at no cost to owners. Notification letters will be mailed starting Feb. 24.
Subaru chains can break, cause power loss
Subaru is recalling nearly 200,000 vehicles in the U.S. because a chain in the transmission can break, causing a loss of power. The recall covers certain 2020 Legacy and Outback vehicles, as well as some 2019 and 2020 Ascent SUVs. Subaru said in documents posted Wednesday by U.S. safety regulators that a programming error in the transmission control computer can let the clutch engage before the drive chain is clamped down.
If that happens, the chain can slip and break, increasing the risk of a crash. Documents posted by the National Highway Traffic Safety Administration say Subaru has no reports of crashes or injuries. Dealers will reprogram the transmission computer and inspect the chain guide. If they find evidence of slippage or damage, the transmission will be replaced at no cost to owners. Owners will be notified by mail starting Feb. 7. The remedy is expected to be ready in April. The recall covers Ascents included included in a 2019 recall that covered a hydraulic sensor in the transmission.
Fed will tighten credit faster, sees rate hikes
The Federal Reserve will quicken the pace at which it's pulling back its support for the post-pandemic U.S. economy as inflation surges, and it expects to raise interest rates three times next year. In an abrupt policy shift, the Fed announced that it will shrink its monthly bond purchases at twice the pace it previously announced, likely ending them in March.
The bond purchases were intended to hold down long-term rates to aid the economy but are no longer needed with unemployment falling and inflation at a near 40-year high. The accelerated timetable puts the Fed on a path to start raising rates in the first half of next year.
UK COVID cases hit record; more coming
The U.K. recorded the highest number of confirmed new COVID-19 infections Wednesday since the pandemic began, and England's chief medical officer warned the situation is likely to get worse as the omicron variant drives a new wave of illness during the Christmas holidays.
Professor Chris Whitty described the current situation as two epidemics in one, with omicron infections rising rapidly even as the country continues to grapple with the older delta variant, which is still causing a large number of infections. Public health officials expect omicron to become the dominant variant across the U.K. by Christmas and in London much sooner. The U.K. recorded 78,610 new infections on Wednesday, 16% higher than the previous record set in January.