BMW North America is recalling nearly 90,000 vehicles due to an engine starter issue, the U.S. National Highway Traffic Safety Administration (NHTSA) announced Saturday.

The NHTSA said the recall involves 87,394 vehicles in the U.S. and is tied to an engine starter that may overheat, posing a fire risk, according to Reuters.

Dealers will replace the engine starter at no cost to owners, the NHTSA said.

The announcement comes after BMW recalled more than 145,000 vehicles in the U.S. in October over a starter defect that could overheat and spark a fire.

CHINA MOVES TO BAN FEATURE COMMONLY SEEN ON TESLA VEHICLES OVER FEAR OF TRAPPED PASSENGERS

In September, BMW recalled 200,000 vehicles due to a similar issue, bringing the total number of affected vehicles to more than 341,000. Those recalls affected certain 2019–2025 vehicles across six models, including the 2020 340i, X6, 2020–2025 840i, 2020–2022 740Li, and 2019–2020 X7 and X5.

Multiple automakers have issued recalls in recent weeks, including Chrysler, which earlier this week recalled more than 450,000 vehicles and more than 2,000 tow-trailer modules because of a brake light failure that could increase the risk of a crash, the NHTSA said.

Last month, Toyota recalled more than 161,000 pickup trucks in the U.S. due to a software defect that can prevent the rearview camera image from displaying when the vehicle is shifted into reverse.

That recall affected certain 2024 and 2025 Toyota Tundra and Tundra Hybrid models equipped with the automaker’s Panoramic View Monitor (PVM) system, according to the NHTSA.

CHRYSLER RECALLS MORE THAN 450,000 VEHICLES OVER BRAKE LIGHT FAILURE

This week, federal regulators expanded an investigation into 1.27 million Ford F-150 pickup trucks following reports of safety issues related to the vehicles’ transmissions.

The NHTSA said drivers reported unexpected transmission downshifts in the trucks without warning or driver input, often causing temporary rear-wheel lockup or skidding and increasing the risk of a crash.

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The probe covers 2015–2017 Ford F-150 trucks equipped with 6R80 transmissions. The F-150 is the best-selling pickup truck in the U.S.

FOX Business reached out to BMW for comment and to the NHTSA for additional information.

FOX Business’ Bonny Chu and Reuters contributed to this report.

The combined market valuation of eight of the top 10 valued firms jumped by a whopping Rs 4.55 lakh crore last week, with Reliance Industries emerging as the biggest winner, in line with a remarkable rally in equities.

Last week, the BSE benchmark surged by 2,857.46 points or 3.53 per cent.

From the top-10 pack, Reliance Industries, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Bajaj Finance, Life Insurance Corporation of India (LIC), and Hindustan Unilever were the gainers, while Tata Consultancy Services (TCS) and Infosys saw their valuations erode.

The combined market valuation of the eight firms was Rs 4,55,336.36 crore.

Reliance Industries added Rs 1,41,887.97 crore, taking its market valuation to Rs 19,63,358.79 crore.

LIC’s valuation zoomed Rs 64,926.1 crore to Rs 5,70,198.54 crore. The market valuation of Bharti Airtel surged Rs 52,516.39 crore to Rs 11,62,288.64 crore and that of ICICI Bank jumped Rs 52,476.97 crore to Rs 10,06,258.82 crore.
The market capitalisation (mcap) of Bajaj Finance climbed Rs 48,659.83 crore to Rs 6,10,830.20 crore and that of State Bank of India by Rs 45,460.79 crore to Rs 9,84,353.06 crore.HDFC Bank’s valuation advanced by Rs 32,350.28 crore to Rs 14,48,249.63 crore and that of Hindustan Unilever appreciated by Rs 17,058.03 crore to Rs 5,69,482.18 crore.

However, the market valuation of TCS eroded by Rs 88,172.8 crore to Rs 10,64,242.35 crore.

The mcap of Infosys declined by Rs 63,462.66 crore to Rs 6,26,067.95 crore.

IT stocks faced selling last week in-line with weak trends in tech firms globally amid valuation-related worries and concerns around the rapid pace of artificial intelligence advancements.

Reliance Industries remained the most valued firm followed by HDFC Bank, Bharti Airtel, TCS, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, LIC and Hindustan Unilever.

After three consecutive months of heavy selling, foreign portfolio investors (FPIs) turned net buyers in the first week of February, infusing more than Rs 8,100 crore in Indian equities, aided by improving risk sentiment, along with a trade deal with the US.

The inflows follow sustained withdrawals in recent months, with FPIs pulling out Rs 35,962 crore in January, Rs 22,611 crore in December, and Rs 3,765 crore in November, data with the depositories showed.

Overall, in 2025, FPIs pulled out a net Rs 1.66 lakh crore (USD 18.9 billion) from Indian equities, marking one of the worst periods for foreign flows. The selling was driven by volatile currency movements, global trade tensions, concerns over potential US tariffs and stretched equity valuations.

According to the data, FPIs invested Rs 8,129 crore in this month (till February 6).

Himanshu Srivastava, principal manager- research at Morningstar Investment Research India, said the recent buying reflects improving risk appetite and renewed confidence in India’s growth outlook.

“The sentiment was supported by easing global uncertainties, stability in domestic interest rate expectations, and optimism around India-US trade and policy developments,” he added.
The turnaround contrasts sharply with January’s outflows, when FPIs exited Indian markets amid a global risk-off environment and elevated US bond yields.Echoing similar views, Vaqarjaved Khan, senior fundamental analyst at Angel One, said the breakthrough in India-US trade talks helped reduce geopolitical uncertainty and fuel a market rally, alongside stabilising US yields and supportive measures announced in the Union Budget for FY26, including fiscal stimulus and sector-specific incentives.

VK Vijayakumar, chief investment strategist at Geojit Investments, said the appreciation of the rupee also played a key role in improving sentiment. The rupee strengthened from a record low of 90.30 against the dollar, although it later weakened to around 90.70 by the close of February 6.

He said the rupee is expected to stabilise and gradually appreciate to below 90 per dollar by the end of March 2026, which could trigger additional FPI inflows, although outcomes will depend on how global trade and artificial intelligence-related developments unfold.

Market participants remain cautiously optimistic. Further inflows could materialise if corporate earnings momentum continues and global trade tensions remain contained, although lingering rupee weakness, elevated valuations and potential shifts in US policy could limit upside, Khan said.

The successful conclusion of an interim trade framework agreement between India and the US will boost investor confidence, strengthen the foundation for capital flows, and deepen market participation as India integrates further with the world economy–directly advancing the vision of Viksit Bharat, said Sundararaman Ramamurthy, MD and CEO, Bombay Stock Exchange (BSE).

“The successful conclusion of the India-US interim trade agreement framework is another feather in the cap for the Government of India led by the Hon’ble Prime Minister, reflecting their ability to build strong, trusted global business partnerships,” a brief statement from the BSE chief said.

The US and India have on Saturday issued a joint statement that they have reached a framework for an Interim Agreement regarding reciprocal and mutually beneficial trade (interim agreement) and have agreed to a framework.

According to the joint statement, India will eliminate or reduce tariffs on all US industrial goods and a wide range of US food and agricultural products, including dried distillers’ grains (DDGs), red sorghum for animal feed, tree nuts, fresh and processed fruit, soybean oil, wine and spirits, and additional products.

India had reservations about opening the entire US agricultural sector to Indian markets, which is why the interim trade deal apparently missed the initially set timeline – fall of 2025. The Indian side has secured protection for its sensitive sectors, particularly agriculture and dairy, in this deal.

Ishita Mukhopadhyay, Senior Professor, Department of Economics, University of Calcutta, noted that the joint document is still very unclear and non-transparent on the commodities and services included in the BTA.
“US has been trying to increase market access in agricultural sector in India for some years…Market access in agriculture can push away the country’s production away from the market. It has already been doing so anyway,” said Ishita Mukhopadhyay.G. Vijay, Associate Professor, School of Economics, University of Hyderabad asserted that the joint statement seems asymmetrical, with India committing to purchase a definite quantum of value of goods from the US, while US only reduces tariffs to reciprocal rates.

“This seems to be much more on account of geopolitical and security considerations than economic reasons, considering, US is more dependent on Indian imports than, the other way around and it will not be easy for US industry to grapple with the supply chain disruptions,” G Vijay added.

Furthermore, as per the joint statement, both countries decided to address non-tariff barriers affecting bilateral trade. India agrees to address long-standing barriers to trade in US medical devices and to eliminate restrictive import licensing procedures that delay market access for, or impose quantitative restrictions on, US Information and Communication Technology (ICT) goods.

The joint statement also noted that India intends to purchase USD 500 billion of US energy products, aircraft and aircraft parts, precious metals, technology products, and coking coal over the next 5 years. India and the United States will significantly increase trade in technology products, including Graphics Processing Units (GPUs) and other goods used in data centres, and expand joint technology cooperation.

On February 2, a phone call between Prime Minister Narendra Modi and US President Donald Trump led to the announcement of the conclusion of negotiations on the much-awaited trade deal.

The Trump administration had imposed tariffs on major exporters to the US, including India and China. There has been a 50 per cent tariff on goods from India entering the United States since August 2025. The tariffs have now been reduced to 18 per cent following the leaders’ recent phone call.

The BTA, formally proposed in February 2025, seeks to more than double bilateral trade, from the current USD 191 billion to USD 500 billion by 2030.

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