San Francisco economy

 The US Consumer Product Safety Commission on Thursday announced a formal recall of around one million Samsung Galaxy Note 7 smartphones plagued by incidents of batteries bursting into flames.

The South Korean electronics giant has received 92 reports of batteries in the US of overheating, including 26 reports of burns and 55 reports of property damage, including fires in cars and a garage, the commission said in a notice officially announcing a recall of the large-screen devices known as "phablets."