Latest news with #NathanGomes
CTV News
5 days ago
- Automotive
- CTV News
Ford recalls over 694,000 SUVs in U.S. after year-long fuel leak probe
Ford is recalling 694,271 crossover SUVs in the United States due to a fuel leak issue that could increase the risk of a fire, the U.S. National Highway Traffic Safety Administration said on Wednesday, following a year-long investigation. The NHTSA said fuel injectors in affected vehicles may crack, causing fuel to leak into the engine compartment and potentially ignite. Drivers may notice a strong fuel smell inside or outside the vehicle, dashboard warnings, smoke, or visible flames. The recall covers certain 2021 to 2024 Bronco Sport and 2020 to 2022 Escape models equipped with 1.5-liter engines. The NHTSA estimates that 0.3 per cent of recalled vehicles may have the defect. 'We estimate the aggregate cost of the action, based on the remedy options we are evaluating, to be about US$570 million and will be reflected in our second quarter 2025 results,' Ford said. Wednesday's action expands on previous recalls from 2022 and 2024, which provided software updates but did not replace the potentially faulty injectors. The fuel injectors were supplied by Italy-based Dumarey Flowmotion Technologies, according to the recall report. Ford's interim fix includes a software update designed to detect a leaking injector, reduce engine power, and shut off fuel delivery. The company is still developing a final mechanical remedy. An internal committee initially recommended the software update and an additional drain tube to redirect fuel away from ignition sources. At that time, about 42,000 vehicles were covered. In 2024, the NHTSA opened a recall query to evaluate the adequacy of Ford's remedy, adding that the proposed fix did not address the root cause of the issue. After reassessment, Ford reported this month that it found cracked fuel injectors in eight vehicles that experienced under-hood fires, despite having undergone repairs. Six of these vehicles did not have the updated engine software the company previously recommended. The latest recall includes vehicles previously repaired under earlier campaigns, as well as newer models built with the same engine and updated software. (Reporting by Aishwarya Jain and Nathan Gomes in Bengaluru, Additional reporting by Kanjyik Ghosh; Editing by Sherry Jacob-Phillips)
Zawya
04-07-2025
- Business
- Zawya
Boeing secures $2.8bln US satellite contract
Boeing Co said on Thursday it had secured a $2.8 billion U.S. contract to develop and produce two satellites with options for two more. The Evolved Strategic Satellite Communications (ESS) program will deliver space-based nuclear, command, control, and communications for the U.S. president and joint strategic global forces. Boeing is set to deliver the first of two space vehicles by 2031. When deployed in geostationary orbit, the ESS will provide persistent coverage to strategic warfighters worldwide. (Reporting by Nathan Gomes in Bengaluru; Editing by Maju Samuel)
Hans India
17-06-2025
- Business
- Hans India
OpenAI executives weigh antitrust accusation against Microsoft, WSJ reports
OpenAI executives have considered accusing Microsoft (MSFT.O), opens new tab, the company's major backer, of anticompetitive behavior in their partnership, the Wall Street Journal reported on Monday, citing people familiar with the matter. OpenAI's effort could involve seeking a federal regulatory review of the terms of its contract with Microsoft for potential violations of antitrust law, as well as a public campaign, the report said. Such a move could unravel one of the most pivotal tech partnerships in the fast-growing field of artificial intelligence. OpenAI needs Microsoft's approval to complete its transition into a public-benefit corporation. But the two have not been able to agree on details even after months of negotiations, sources said. The companies are discussing revising the terms of Microsoft's investment, including the future equity stake it will hold in OpenAI, according to the sources. Separately, The Information reported that OpenAI wants Microsoft to hold a 33% stake in a restructured unit in exchange for foregoing rights to future profits, citing a person who spoke to OpenAI executives. The ChatGPT owner wants to modify existing clauses that give Microsoft exclusive rights to host OpenAI models in its cloud, the report added. Microsoft has not agreed to OpenAI's proposed terms and is reportedly seeking additional concessions from the startup, according to The Information. "Talks are ongoing and we are optimistic we will continue to build together for years to come," the companies told Reuters in a joint statement. Microsoft invested $1 billion in OpenAI in 2019 to support the startup's development of AI technologies on its Azure cloud platform. Since then, however, OpenAI has been looking for ways to reduce its reliance on the tech heavyweight. The company plans to add Alphabet's (GOOGL.O), opens new tab Google Cloud service to meet its growing needs for computing capacity, Reuters reported earlier this month. Reporting by Niket Nishant, Nathan Gomes and Gursimran Kaur in Bengaluru and Krystal Hu in New York; additional reporting by Rishabh Jaiswal; Editing by Alan Barona and Sherry Jacob-Phillips
Yahoo
04-06-2025
- Automotive
- Yahoo
Ford, Hyundai post higher US sales in May on strong SUV, truck demand
By Nathan Gomes and Kalea Hall (Reuters) -U.S. auto sales for Ford Motor and South Korea's Hyundai Motor rose in May, the companies reported on Tuesday, as concerns over potential tariff-related price hikes prompted buyers to act fast on their purchases of cars and SUVs. U.S. President Donald Trump's tariff policies have fueled uncertainty across the auto industry, driving up supply costs, pressuring margins and pushing some automakers to pass the expenses on to consumers. The sales also got a boost from offers and trade-in deals for affordable pickups and crossovers. Ford's overall sales rose to 220,959 units in May from 190,014 units a year ago. The Detroit automaker's F-Series truck sales climbed 15% to 79,817 vehicles during the month. Ford in April extended discounted rates to its customers that are generally reserved for its workers to keep sales moving, although the automaker also hiked prices on three of its Mexico-made products in May. Hyundai also reported an 8% year-on-year rise in U.S. auto sales to 84,521 vehicles in May. The company noticed a pick up in demand in March and April with a "little bit of a rush" from consumers coming in to purchase because they were concerned about potential tariff price increases, Randy Parker, CEO of Hyundai Motor America, said in an interview on Tuesday. But no decisions were made on changing sticker prices for the brand's vehicles as a result of tariffs, Parker added. A price protection program instituted by the automaker in early April ended on June 2 and was not extended. The program guarantees no hikes to sticker prices on new vehicles sold through the period. "This period really marks our regular annual pricing review," Parker said. "We take a look at market dynamics, consumer demand, independent of tariffs." Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
02-05-2025
- Automotive
- Yahoo
GM to reduce shifts at Canadian truck assembly plant amid demand, trade pressures
By Nathan Gomes and Kalea Hall (Reuters) -General Motors' Oshawa Assembly plant in Canada, which builds pickup trucks, will cut back to a two-shift schedule from three due to softening demand and trade-related challenges, the company and the union representing workers said on Friday. U.S. President Donald Trump's tariff policies have rattled the automotive industry, forcing them to rethink where they source their parts from as well as production output. The Oshawa plant assembles light and heavy-duty Chevrolet Silverado pickup trucks for the North American market. These vehicles are also assembled at factories in the U.S. and Mexico. Unifor, which represents about 3,000 members at the Detroit automaker's Oshawa assembly plant, said GM's decision to reduce operations was "reckless". GM is increasing production output at its light-duty truck plant in Fort Wayne, Indiana, which Reuters first reported. It intends to reduce Oshawa truck exports to the U.S. and recalibrate the plant for Canadian sales, starting in the fall. The automaker said the move would impact around 700 employees but did not provide any further details. GM said it would work with partners to support employees through the transition. Ontario Premier Doug Ford on Friday called the announcement "extremely tough" for impacted employees. Last month, GM said it would temporarily halt production of electric commercial vans at its assembly plant in Ontario and temporarily lay off some workers over slow sales. Sign in to access your portfolio
