The US CPI will come out on Wednesday, May 11, at 15:30 MT time (GMT+3).
South Korea orders car recalls for Kia and Hyundai reacting to whistleblower report
On Friday, Hyundai Motor Corporation along with Kia Motors Corporation announced that they would intend to recall up to 240,000 cars from South Korea. It’s because the transport ministry released its first compulsory recall order as for safety defects emphasized by a whistleblower.
Additionally, the ministry asked the prosecutor to investigate whether the car makers covered up the five flaws or not, which definitely affect up to 12 models, such as the Elantra, Santa Fe, Genesis and Sonata.
It’s the first time ever that the South Korean ministry ordered a compulsory recall of Kia and Hyundai cars, and arises after the both car makers automakers had rejected an earlier order for a voluntary recall, arguing that the defects didn’t harm driving safety at all.
On Friday, Kia and Hyundai told they fully accept the administrative order. However, they added that there haven’t been any reported accidents or injuries from the cited issues.
Representatives from 15 oil-rich nations attend OPEC meetings. They discuss a range of issues regarding energy markets and, most importantly, agree on how much oil they will produce.
On April 22, 2022, from 10:15 to 11:00 MT time, the Markit will release German and French flash services and manufacturing PMI.
The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.
The US PPI will come out on Thursday, May 12, at 15:30 MT time.