Automotive manufacturing company, the Volkswagen Group will have to recall about 227,000 VW and Porsche cars.
Reasons explained: The German Company gave this order after citing possible problems with seatbelt pre-tensioners and airbags in some of them, adding that new software needed to be installed. The supposed cars with these problems were reportedly in need of an update to the software of the airbag control units.
The car models affected are the Tiguan, Sharan and CC models built-in 2015 as well as Porsche 911, Boxter, Cayman and Panamera models from 2015 and 2016.
How this development may affect Volkswagen: It is arguable that if Volkswagen recalls its already circulated cars, it might incur some short term losses.
The seatbelt pre-tensioner helps pull the bodies of the driver and front-seat passenger firmly to their seats in case of accidents. Therefore, if Volkswagen does not recall the cars, it could lead to severe injuries on the customers which is not a good image for the company.
Volkswagen is a multinational company that has been on for years and so can survive the short term loses that come with product recalls as the company can easily compensate customers by replacing the defective auto parts. Nevertheless, the real problem comes when shareholders and customers begin to lose confidence in what the company delivers.
About the Company: Volkswagen AG, known internationally as the Volkswagen Group, is a German multinational automotive manufacturing company headquartered in Lower Saxony, Germany. It sells passenger cars under the Audi, Bentley, Bugatti, Lamborghini, Porsche, SEAT, Škoda and other Volkswagen Commercial Vehicles.
Volkswagen Group is divided into two primary divisions, the Automotive Division and the Financial Services Division, and as of 2008 had approximately 342 subsidiary companies. The company has two major joint-ventures in China and operations in approximately 150 countries and operates 100 production facilities across 27 countries.
US House passes reform bill to decriminalize marijuana
US Congress has passed a sweeping legislation that would decriminalize marijuana at the federal level.
The 116th US Congress passed a reform legislation to decriminalize marijuana and expunge non-violent marijuana-related convictions and prosecution.
The bill, however, moves to legislate H.R. 3884, the Marijuana Opportunity Reinvestment and Expungement (MORE) Act of 2019, under a closed rule.
According to a statement made by the House Judiciary Committee Chairman, Jerry Nadler, the MORE Act is a commonsense bill that will make a tangible difference in the lives of millions of Americans, as it is tied around ideals of racial, economic, and moral justice.
However, the bill still has to pass through the US Senate, but it is likely that the Senate would pass it, given the uncertainties around it and owing to the non-inclusion of a cost estimate in the committee report, according to Clause 3(d) of rule XIII.
However, US representative for the eastern part of Bronx in New York, Alexandria Ocasio Cortez, tweeted that 68% of Americans support marijuana legalization.
This year, South Dakota, Arizona, Montana, and New Jersey joined 11 other states in legalizing it. Yet, the federal government still classifies pot as a dangerous drug. The Senate must listen to the American people and vote on this bill.
Why this matters
The bill, if finally passed by the senate would decriminalize cannabis, and also provide for reinvestment in certain persons adversely impacted by the war on drugs, through the expungement of certain cannabis offenses and for other purposes.
Thus, leading to the delisting of marijuana from the federal list of controlled substances and expunge some marijuana convictions for nonviolent criminals.
The bill would also ban the denial of federal public benefits to a person on the basis of certain cannabis-related conduct or convictions.
What they are saying
The House Judiciary Committee Chairman, Jerry Nadler, representing parts of Manhattan and Brooklyn said:
“There is no reason for cannabis to be classified as a federally scheduled substance under the Controlled Substances Act. The MORE Act deschedules cannabis, allowing states to establish their own marijuana regulations and providing medical marijuana access to veterans in need.”
“The MORE Act is a common-sense bill that will make a tangible, real difference in the lives of millions of Americans. I’m proud of this bill centered around ideals of racial, economic, and moral justice.”
“I’m so proud that the MORE Act passed the House by a bipartisan vote of 228 to 164. I introduced this bill to provide restorative justice, modernize America’s cannabis laws, and deliver meaningful investments to America’s communities & small businesses.”
Co-chair of the Congressional Cannabis Caucus, Earl Blumenauer, representing Oregon’s 3rd Congressional District, while speaking at Capitol Hill during the House session on Friday said:
“We are here because we have failed three generations of Black and Brown young people, whose lives can be ruined or lost, by selective enforcement of these laws.
This Legislation will end that disaster. It’s time for the Congress to step up and do its part”
What you should know
- Recreational marijuana is currently legal in 15 states and Washington DC, while Medical marijuana is legal in 34 states of the 50 States of the USA.
- The MORE Act has seen a lot of criticisms by people who believe the bill is an unserious bill, as there is zero interest in moving this bill in the Senate and zero interest in supporting it in either the current administration or the incoming one.
- Earlier this week, Republican Senate Majority Leader, Mitch McConnell, criticized the House for passing the cannabis bill, instead of focusing on a COVID-19 stimulus bill that both parties reportedly have agreed upon.
Biden to appoint Nigerian-born attorney as Deputy Treasury Secretary
Nigerian-born attorney, Adewale Adeyemo has been selected by US President-elect, Joe Biden as Deputy Treasury Secretary.
United States President-elect, Joe Biden, has selected a Nigerian-born attorney, Adewale Adeyemo, as the Deputy Treasury Secretary.
This was disclosed by Biden on Sunday, according to Wall Street Journal.
Adeyemo, who is a former senior international economic adviser during the Obama administration, will serve under former Federal Reserve Chair Janet Yellen, who Biden plans to appoint to lead the US Treasury Department.
Adeyemo’s appointment is one of many key cabinet positions Biden is expected to announce in the coming days.
What you need to know
Born in Nigeria, Adeyemo was raised in California where he obtained a bachelor’s degree before proceeding to Yale Law School for his legal education.
Before his appointment into the Obama administration, Adeyemo worked as an editor at the Hamilton Project, then served as senior advisor and deputy chief of staff to Jack Lew in the United States Department of Treasury.
He later worked as the chief negotiator for the Trans-Pacific Partnership and also served as the first chief of staff of the Consumer Financial Protection Bureau under Elizabeth Warren.
In 2015, he was appointed to concurrently serve as Deputy National Security Advisor for International Economics and deputy director of the National Economic Council.
He went on to become the first president of the Obama Foundation.
Canada extends travelers’ restrictions to January 2021
The Canadian Government has extended a temporary travel restrictions for all travelers seeking entry into the country.
The Canadian Government has extended the mandatory isolation order and temporary travel restrictions for all travelers seeking entry into the country, except the United States, to January 2021.
This was disclosed by the Minister of Public Safety & Emergency Preparedness, Bill Blair, on Sunday.
In a statement seen by Nairametrics, he explained that the travel restrictions for US citizens and foreign nationals arriving from the US would remain in place until December 21, 2020 and might be extended at that time.
The decision was taken to protect Canadians from COVID-19 and reduce the spread of the disease in Canada. Blair said:
“Protecting the health and safety of Canadians is my most important responsibility. We have introduced a number of policies to keep Canadians safe but must remain flexible and adapt to the evolving COVID-19 situation, while keeping your health as our top priority.
“The ability to align US and international travel extension dates, as well as the Mandatory Isolation Order, beginning on January 21, 2021 will enable the Government to communicate any travel extensions or changes as quickly as possible and provide certainty for Canadians, US and international travelers.
“In addition, the Government is amending its order and creating a framework for considering applications from high-performance amateur sport organizations seeking to hold International Single Sport Events.”
To be considered, applicants are expected to include written commitments of ongoing support from provincial/territorial and local public health authorities and provincial/territorial governments, as well as a robust plan to protect public health and the health of participants.
The authorization would be issued by the Department of Canadian Heritage (Sport Canada) in consultation with the Public Health Agency of Canada (PHAC).
“Anyone experiencing symptoms of COVID-19, or who has recently come into close contact with someone infected with COVID-19, should continue to quarantine or isolate for 14 days. At all Canadian ports of entry, the final determination on a traveler’s admissibility is made by border services officers who base their decision on the information presented and available to them at the time of entry,” he added.
- The Department of Canadian Heritage will determine which foreign nationals can receive accreditation to enter Canada to participate in an International Single Sport Event.
- An International Single Sport Event includes World Championships, Olympic or Paralympic Qualifications, as well as World Cups.
- A high-performance amateur athlete is defined as an athlete competing at the international level and affiliated with his or her country’s national sport federation.
What you need to know
In March, 2020, the Government introduced several measures, including prohibitions and restrictions on discretionary and optional travel from the United States (US) and all other countries, to minimize the introduction and spread of COVID-19 and protect the health and safety of Canadians.
The measures included the requirement for all travelers entering Canada to quarantine or isolate for 14 days.
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