Hyundai recalls 2012 Veloster on potential of shattering sunroof

Updated 19 December 2012
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Hyundai recalls 2012 Veloster on potential of shattering sunroof

Hyundai Motor Co. is recalling about 13,500 of its 2012 Veloster models with sunroofs that may shatter while the car is moving, the company and US safety regulators said.
The “panoramic” sunroof may have been weakened during assembly of the cars, which could cause the glass panel to break, said a filing with the US National Highway Traffic Safety Administration.
Veloster is a three-door compact car. Models produced from Nov. 1, 2011 through April 17, 2012 are affected by the recall. The cars are made in Hyundai’s home country of South Korea.
NHTSA said it has received 11 consumer complaints saying that sunroofs have shattered or exploded in their 2012 Veloster models. Seven of them reported that they were driving when the glass shattered, some of them while the Veloster was traveling at highway speeds.
No injuries or crashes were reported to NHTSA.
The safety recall will begin next month. Hyundai will notify customers who will be advised to bring their cars into dealerships for inspection and, if necessary, free replacement of the sunroofs.
Hyundai sold 32,886 Velosters in the first 11 months of this year, according to Autodata Corp.


Saudi minister Al-Falih says Aramco IPO likely in 2019

Updated 32 min 42 sec ago
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Saudi minister Al-Falih says Aramco IPO likely in 2019

  • Energy Minister Khalid Al-Falih: “We are ready, the company (Saudi Aramco) essentially has ticked all the boxes. We’re simply waiting for a market readiness for the IPO.”
  • Khalid Al-Falih: “Most likely it will be in 2019 but we will not know until the announcement has been made. All I could say is stay tuned.”

RIYADH: Saudi Arabia is most likely to hold the initial public offering (IPO) of oil giant Aramco in 2019, Energy Minister Khalid Al-Falih said on Friday, confirming a delay from the initial plan to list the company this year.

“The timing I think will depend on the readiness of the market, rather than the readiness of the company or the readiness of Saudi Arabia,” Khalid Al-Falih, who’s also the company’s chairman, said at the St. Petersburg International Economic Forum in Russia on Friday.

“We are ready, the company essentially has ticked all the boxes,” he said. “We’re simply waiting for a market readiness for the IPO.”

For almost two years, Saudi officials said the IPO was “on track, on time” for the second half of 2018. But for the first time in March they suggested it could be delayed until 2019.

“Most likely it will be in 2019 but we will not know until the announcement has been made,” Al-Falih said. “All I could say is stay tuned.”

The Aramco IPO would be a once-in-a-generation event for financial markets. Saudi officials said they hope to raise a record $100 billion by selling a 5 percent stake, valuing the company at more than $2 trillion and dwarfing the $25 billion raised by Chinese retailer Alibaba Group Holding Ltd. in 2014.