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Month: June 2023

Consumer Reports shows safety concerns in some EV brake lights from Hyundai, Kia

Consumer Reports shows safety concerns in some EV brake lights from Hyundai, Kia

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Consumer Reports tests show brake lights on some electric vehicles from Hyundai, Kia and Genesis do not illuminate when the vehicle is brought to a stop while using aggressive regenerative-braking settings.

This potential safety concern means drivers following these EVs could have no warning that the vehicle is quickly slowing down. The lack of visual aid could lead to potentially hazardous situations.

When particular cars are set in the most aggressive “one-pedal-driving” regenerative-braking mode, the brake light won’t illuminate unless the driver’s foot is completely off the accelerator, even as the vehicle slows to near stop, said Alex Knizek, Consumer Reports’ manager of auto testing and insights.

“Hyundai is aware of the customer concerns regarding EV brake light illumination. Hyundai engineering teams are investigating and reviewing our EV braking strategies. All Hyundai Motor Group electric vehicles meet the FMVSS No. 108 standard that regulates all automotive lighting. Hyundai is committed to vehicle safety and the well-being of our customers,” Hyundai said in a statement. read more

US consumer price growth slowed last month as inflation shows signs of steady decline

US consumer price growth slowed last month as inflation shows signs of steady decline

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By CHRISTOPHER RUGABER (AP Economics Writer)

WASHINGTON (AP) — Consumer prices in the United States cooled last month, rising just 0.1% from April to May and extending the past year’s steady easing of inflation. At the same time, some measures of underlying price pressures remained high.

Measured year over year, inflation slowed to just 4% in May — the lowest 12-month figure in over two years and well below April’s 4.9% annual rise. The pullback was driven by tumbling gas prices, a much smaller rise in grocery prices than in previous months and less expensive furniture, air fares and appliances.

Tuesday’s inflation figures from the government arrived one day before the Federal Reserve is expected to leave interest rates alone after imposing 10 straight rate hikes dating back to March 2022. After a two-day meeting, the Fed will likely announce that it’s skipping a rate hike but may hint that it will resume raising rates as soon as July.

Last month’s drop-off in overall inflation isn’t likely to convince the Fed’s policymakers that they’re close to curbing the high inflation that has gripped the nation for two years. The central bank tends to focus most closely on “core” prices, which exclude volatile food and energy costs and are considered better able to capture underlying inflation trends. These prices remain stubbornly high. read more

How to pick a socially responsible bank

How to pick a socially responsible bank

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It has never been easier to open a bank account, especially with the spread of online services, but there has also never been so much choice about where to put your money. If you’re overwhelmed by your banking options, think about your ability to shape social change with your money. Now is a great time to consider becoming a customer at a socially responsible bank.

What is a socially responsible bank?

Corporate social responsibility is the self-regulation that businesses do to help promote a positive impact on environmental or social issues, such as racial equity.

In the banking industry, social responsibility refers to the ways banks can reduce harm or create opportunities for good. For an eco-conscious bank or credit union, that might mean it doesn’t invest in oil pipelines, deforestation or fossil fuels, or it might invest in alternative energy, plant trees or buy carbon offsets. Other banks or credit unions might be committed to equity goals by providing financial literacy programs to their communities or by giving more loans to minority-owned small businesses. read more