Honda to use Facebook to find owners with defective Takata airbags

Takata’s air bag inflators have been linked to at least 18 deaths and 180 injuries around the world. (Reuters)
Updated 20 November 2017
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Honda to use Facebook to find owners with defective Takata airbags

BENGALURU: Honda said on Monday it will use Facebook’s custom audiences tool to find car owners with defective Takata airbags.
The tool, which allows advertisers to reach a specified list of users, will match encrypted email addresses associated with recalled vehicle identification numbers to Facebook users.
Japan’s Takata’s air bag inflators have been linked to at least 18 deaths and 180 injuries around the world because they can rupture and shoot metal fragments into vehicles.
Honda, whose vehicles account for 17 of the 18 deaths worldwide, has been by far the most aggressive in reaching out to affected customers.
A report issued on Friday by an independent monitor of the Takata recalls said more than 10 million US vehicles and 18.5 million faulty Takata air bag inflators remain unrepaired in the largest ever auto recall.
Automakers have recalled or expect to recall by 2019 about 125 million vehicles worldwide to replace air bag inflators, including more than 60 million in the US.


French state-owned bank drops plan to aid trade with Iran

Updated 14 min 14 sec ago
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French state-owned bank drops plan to aid trade with Iran

PARIS: French state-owned bank Bpifrance has abandoned its plan to set up a mechanism to aid French companies trading with Iran, in the face of US sanctions against Tehran.
Earlier this year, the bank had said it was working on a project to finance French companies that wished to export goods to Iran despite US sanctions.
“It’s put on hold,” said Nicolas Dufourcq, Bpifrance’s chief executive. “Conditions are not met (...) Sanctions are punitive for companies.”
Bpifrance was working on establishing euro-denominated export guarantees to Iranian buyers of French goods and services. By structuring the financing through vehicles without any US link, Bpifrance thought it was possible to avoid the extraterritorial reach of US legislation.
Dufourcq’s latest comments show how the scope of the sanctions is making trade with Iran increasingly difficult for European companies.
The United States is renewing sanctions on Iran after withdrawing from a nuclear deal forged in 2015 between Tehran and world powers. Washington reimposed some of the financial sanctions from Aug. 6, while those affecting Iran’s petroleum sector will come into force from Nov. 4.
Even though several European countries have said they are seeking to protect their companies from the sanctions, several major companies including oil company Total, Air France-KLM and British Airways have announced they would suspend activities in Iran.
German officials have in recent weeks advocated for the creation of an independent system for cross-border payments to make trade with Iran possible even with the US sanctions.
European Union diplomats have said US President Donald Trump’s positions on trade and on Iran were fueling a rethink about the EU’s dependency on the US financial system.
However, European countries appear to be struggling to find or agree on effective options to tackle the issue.