Honda is recalling 600,000 Accord midsize cars in the U.S. and Canada to fix a faulty power steering hose that can leak fluid and cause a fire.
The recall affects Accords with V-6 engines from the 2003 through 2007 model years. Honda has a report of one fire but no injuries or crashes.
The five-passenger Accord is consistently among the top-selling vehicles in the United States, mainly because of its reputation for reliability and fuel economy. For years it has been the nation’s second-best-selling car, beaten only by the Toyota Camry.
The National Highway Traffic Safety Administration, the government agency that monitors vehicle safety, said the Accord’s power steering hose can deteriorate with prolonged exposure to engine heat.
The hoses can crack and leak, possibly causing a fire or loss of power-assisted steering, the documents said.
Honda will replace the hoses for free, but it won’t have the parts available until early next year. Any owner who suspects a leak should take their car to a dealer for inspection, a Honda spokesman said.
Settlements cost Amex $112.5 million
American Express Co. is paying $112.5 million in refunds and fines to settle regulators’ accusations that it charged unlawful late fees and deceived customers to pressure them to pay off old debts or buy extra credit card services.
The company agreed to the settlements announced Monday by four federal agencies, including the Federal Reserve and the Consumer Financial Protection Bureau, and Utah regulators.
American Express is refunding $85 million to about 250,000 customers and is paying $27.5 million in civil fines.
The violations were said to have occurred from 2003 to this past spring.
Yahoo CEO adds motherhood duties
Yahoo CEO Marissa Mayer gave birth to a boy late Sunday, shining a spotlight on her ability to steer the struggling Internet company in a new direction while adjusting to the challenges of being a first-time mother.
The birth came a week ahead of the Oct. 7 due date that Mayer shared with the public in July. She announced her pregnancy on her social networking accounts just a few hours after Yahoo hired her as its third full-time CEO in less than a year.