The world’s largest electric vehicle manufacturer is recalling more than 375,000 vehicles due to a power steering issue that could impact driver control, according to the US National Highway Traffic Safety Administration (NHTSA).

The recall affects certain 2023 Model 3 and Model Y vehicles, with the NHTSA reporting that the printed circuit board responsible for electronic power steering assist may become overstressed. This could result in a loss of power steering assistance when the vehicle stops and then accelerates again.

A loss of power steering assistance requires drivers to exert greater effort to steer the vehicle, particularly at low speeds, increasing the risk of accidents.

The EV manufacturer has not disclosed the number of incidents linked to the issue but stated that it is working to address the problem promptly. Owners of affected vehicles will be notified and offered free repairs, including replacement of the faulty circuit board if necessary.

The NHTSA advises vehicle owners to monitor their dashboard warning lights and seek service immediately if they notice any changes in steering performance. The agency is continuing to monitor the situation to ensure compliance and safety.

This recall comes as the electric vehicle industry faces heightened scrutiny over software and hardware reliability. Despite the setback, industry analysts believe the company’s proactive recall could help maintain customer trust and highlight its commitment to safety and product quality.

European aircraft manufacturer Airbus has reported solid financial results for 2024, with strong order intake and increased deliveries, further extending its lead over struggling competitor Boeing.

In its annual earnings update on Thursday, Airbus revealed that revenues rose to €69.23 billion, up from €65.45 billion in the previous year. However, adjusted earnings before interest and tax (EBIT) dropped 8% to €5.35 billion, compared to €5.84 billion in 2023. The decline was attributed to restructuring costs in the company’s space division.

Aviation and tourism expert Anita Mendiratta praised Airbus’ performance, stating that the results highlight the company’s focus on fundamentals. “The strong order intake across all divisions signifies sustained market confidence—critical in 2024, the first full year since the pandemic when trade not only recovered but surged,” she said.

Aircraft Deliveries and Orders

Airbus delivered 766 commercial aircraft in 2024, an increase from 735 in 2023, thanks to a strong year-end push. Gross commercial aircraft orders reached 878, with net orders totaling 826 after cancellations.

Looking ahead, Airbus has set a delivery target of 820 commercial aircraft for 2025—a figure lower than its record 863 deliveries in 2019. While some analysts view this target as conservative, Matt Dorset, equity analyst at Quilter Cheviot, noted that it reflects ongoing supply chain issues. “The company will want to avoid another cut to guidance, as occurred in 2024,” Dorset explained.

Airbus lowered its delivery targets in June 2023 due to supply chain disruptions involving engines, aerostructures, and cabin equipment, as well as additional costs in its space systems division. The company continues to face challenges, particularly with Spirit AeroSystems, which is affecting the production of the A350 and A220 models.

Financial Outlook and Dividends

For 2025, Airbus forecasts adjusted EBIT of approximately €7 billion and free cash flow before customer financing of around €4.5 billion. These projections do not account for potential tariffs that could be imposed by a future Donald Trump administration in the United States.

Despite ongoing challenges, Airbus announced an increased dividend of €2 per share for 2024, up from €1.80 the previous year. Additionally, the company proposed a special dividend of €1 per share, with a payment date set for April 24, 2025.

Airbus Extends Lead Over Boeing

Airbus’ stable financial performance contrasts sharply with the difficulties faced by Boeing, which reported a loss of $11.8 billion (€11.3 billion) in 2024—its worst result since 2020. Boeing’s setbacks include a series of safety incidents, strikes, and challenges within its defense programs, further solidifying Airbus’ position as the world’s leading aircraft manufacturer.

Digital banking giant Revolut has reaffirmed its commitment to flexible working, even as it prepares to open a new headquarters in Canary Wharf, London.

In an internal message to employees, CEO Nikolay Storonsky emphasized that the company will continue supporting hybrid work arrangements. “We care more about what you do than where you do it,” Storonsky wrote in the memo, seen by Euronews. “So long as hybrid work keeps us productive, we will not be making any changes to it.”

New London Headquarters

The statement comes as Revolut finalizes its move into a new office within the YY London building. Spanning four floors and covering 113,000 square feet, the space is part of a 10-year lease and is set to open in May 2024.

The internal memo included design mockups of the space, featuring an auditorium, desk areas, and a canteen. Despite the company’s remote-friendly approach, Storonsky noted that the new headquarters and other global offices will remain vital for those who prefer working on-site.

“In our non-core markets, we encourage more office time to support growth, especially in locations where teams are smaller,” he added.

Revolut employs over 10,000 people across 23 countries, with physical offices in each market. Employees also have the option to work from abroad for up to 120 days per year, reinforcing the company’s emphasis on flexibility.

A Different Approach to Hybrid Work

Revolut’s decision to maintain flexible work contrasts with recent trends among other major corporations pushing for a return to the office.

In the banking sector, JPMorgan Chase, the largest bank in the US, announced in January 2024 that it was ending hybrid work setups. Similarly, Barclays increased its office attendance requirements, asking employees to come in at least three days a week, up from two.

Outside of banking, Amazon made headlines last year by mandating full-time office attendance. CEO Andy Jassy justified the decision by highlighting the benefits of in-person collaboration, stating, “We continue to believe that the advantages of being together in the office are significant.”

Future of Work at Revolut

Despite the broader corporate shift, Revolut remains committed to hybrid working, aligning with its mission to prioritize productivity and employee well-being.

As the company settles into its new London headquarters, the balance between remote and in-office work is expected to remain a key component of its growth strategy, setting it apart from competitors in the evolving landscape of modern work.