US regulators on Friday fined Japanese auto parts manufacturer Takata Corp US$14,000 a day, accusing it of stonewalling the investigation into the company’s defective airbags.
Takata failed to fully respond to regulator requests to explain about 2.4 million pages of company documents supplied in the probe, or to provide knowledgeable staff a “walk-through” of the papers, the National Highway Traffic Safety Administration (NHTSA) said.
“Takata is neither being forthcoming with the information that it is legally obligated to supply, nor is it being cooperative in aiding NHTSA’s ongoing investigation of a potentially serious safety defect,” the NHTSA said in a letter to Takata.
TOO MUCH POWER
About 20 million vehicles produced by some of the world’s biggest automakers are being recalled due to the risk their Takata-made airbags could deploy with excessive explosive power, spraying potentially fatal shrapnel into the vehicle.
The problem has been linked to at least five deaths globally.
US regulations require Takata to explain documents that are not self-explanatory. Vincent said the company’s failure to provide adequate explanations over several months made a Feb. 4 meeting with the company “a waste of agency time and resources.”
Takata said it was “surprised and disappointed” by the NHTSA’s statement. “We strongly disagree with their characterization that we have not been fully cooperating with them,” it added.
Takata said it has released almost 2.5 million pages of documents to NHTSA in response to the agency’s orders, that it has been “in regular communication” with NHTSA staff on additional documents and that it has met regularly with NHTSA engineers to try to understand the root cause of the airbag program.
“We remain fully committed to cooperating with NHTSA in the interests of advancing auto safety for the driving public,” the company added.
Takata also said it has been working closely with automakers in areas it believes are most vulnerable.
Takata believes the airbag problem surfaces in humid, hotter regions and resisted the NHTSA’s call for a national recall of cars.
Takata will be fined a civil penalty of US$14,000 a day starting on Friday for each day the violations persists, Vincent said.
He warned the company that the NHTSA could force depositions of Takata employees in both the US and in Japan if the company did not cooperate fully in “short order.” He also said it could refer the matter to the US Department of Justice for court action.
In Italy’s storied gold-making hubs, jewelers are reworking their designs to trim gold content as they race to blunt the effect of record prices and appeal to shoppers watching their budgets. Gold prices hit a record high on Thursday, surging near US$5,600 an ounce, more than double a year ago as geopolitical concerns and jitters over trade pushed investors toward the safe-haven asset. The rally is putting undue pressure on small artisans as they face mounting demands from customers, including international brands, to produce cheaper items, from signature pieces to wedding rings, according to interviews with four independent jewelers in Italy’s main
Japanese Prime Minister Sanae Takaichi has talked up the benefits of a weaker yen in a campaign speech, adopting a tone at odds with her finance ministry, which has refused to rule out any options to counter excessive foreign exchange volatility. Takaichi later softened her stance, saying she did not have a preference for the yen’s direction. “People say the weak yen is bad right now, but for export industries, it’s a major opportunity,” Takaichi said on Saturday at a rally for Liberal Democratic Party candidate Daishiro Yamagiwa in Kanagawa Prefecture ahead of a snap election on Sunday. “Whether it’s selling food or
CONCERNS: Tech companies investing in AI businesses that purchase their products have raised questions among investors that they are artificially propping up demand Nvidia Corp chief executive officer Jensen Huang (黃仁勳) on Saturday said that the company would be participating in OpenAI’s latest funding round, describing it as potentially “the largest investment we’ve ever made.” “We will invest a great deal of money,” Huang told reporters while visiting Taipei. “I believe in OpenAI. The work that they do is incredible. They’re one of the most consequential companies of our time.” Huang did not say exactly how much Nvidia might contribute, but described the investment as “huge.” “Let Sam announce how much he’s going to raise — it’s for him to decide,” Huang said, referring to OpenAI
The global server market is expected to grow 12.8 percent annually this year, with artificial intelligence (AI) servers projected to account for 16.5 percent, driven by continued investment in AI infrastructure by major cloud service providers (CSPs), market researcher TrendForce Corp (集邦科技) said yesterday. Global AI server shipments this year are expected to increase 28 percent year-on-year to more than 2.7 million units, driven by sustained demand from CSPs and government sovereign cloud projects, TrendForce analyst Frank Kung (龔明德) told the Taipei Times. Demand for GPU-based AI servers, including Nvidia Corp’s GB and Vera Rubin rack systems, is expected to remain high,