adplus-dvertising
Connect with us

Business

Tesla to recall nearly 54,000 vehicles that may disobey stop signs

Published

 on

Tesla Inc will recall 53,822 U.S. vehicles with the company’s Full Self-Driving (Beta) software that may allow some models to conduct “rolling stops” and not come to a complete stop at some intersections posing a safety risk.

The National Highway Traffic Safety Administration (NHTSA) said the recall covers some 2016-2022 Model S and Model X, 2017-2022 Model 3, and 2020-2022 Model Y vehicles. NHTSA said the feature also known as FSD Beta may allow vehicles to travel through an all-way stop intersection without first coming to a stop.

Tesla will perform an over-the-air software update that disables the “rolling stop” functionality, NHTSA said. Tesla did not immediately respond to a rquest comment.

Last week, Tesla said the number of FSD beta vehicles in the United States increased to nearly 60,000 from a few thousand at the end of September. Tesla has been testing the improved version of its automated driving software on public roads, but the carmaker and the regulator have said the features do not make the cars autonomous.

Tesla said as of Jan. 27 it was not aware of any warranty claims, crashes, injuries or fatalities related to the recall.

STATE LAWS

Tesla told the auto safety agency it released on Oct. 20 an updated version to introduce the “rolling stop” functionality. The automaker said to use the feature vehicles must be traveling below 5.6 miles (9 km) per hour and no relevant moving cars, pedestrians or bicyclists are detected near the intersection.

The feature, which appeared to violate state laws that require vehicles to come to a complete stop and required drivers to opt-in for what it dubbed “Assertive” mode, drew attention on social media and prompted NHTSA to raise questions with Tesla.

According to a defect report https://static.nhtsa.gov/odi/rcl/2022/RCLRPT-22V037-4462.PDF filed with the auto safety agency, Tesla said it met with NHTSA staff on Jan. 10 and Jan. 19 “to discuss the functionality, including operating parameters” and the automaker on Jan. 20 agreed to the recall.

In November, Tesla recalled nearly 12,000 U.S. vehicles sold since 2017 for another software update because a communication error could a cause a false forward-collision warning or unexpected activation of the emergency brakes.

NHTSA said last week it had sought additional information from Tesla in its probe into 580,000 vehicles over the automaker’s decision to allow games to be played by passengers on the front center touchscreen.

In December, NHTSA opened a preliminary evaluation into 2017-2022 Tesla Model 3, S, X, and Y vehicles over the vehicle’s “Passenger Play” feature the agency said “may distract the driver and increase the risk of a crash.”

In August, NHTSA opened a formal safety probe into Tesla’s Autopilot driver assistance system in 765,000 U.S. vehicles after about a dozen crashes involving Tesla models and emergency vehicles. That investigation also remains open.

(Reporting by David Shepardson, Editing by Louise Heavens and Tomasz Janowski)

Business

TC Energy cuts cost estimate for Southeast Gateway pipeline project in Mexico

Published

 on

 

CALGARY – TC Energy Corp. has lowered the estimated cost of its Southeast Gateway pipeline project in Mexico.

It says it now expects the project to cost between US$3.9 billion and US$4.1 billion compared with its original estimate of US$4.5 billion.

The change came as the company reported a third-quarter profit attributable to common shareholders of C$1.46 billion or $1.40 per share compared with a loss of C$197 million or 19 cents per share in the same quarter last year.

Revenue for the quarter ended Sept. 30 totalled C$4.08 billion, up from C$3.94 billion in the third quarter of 2023.

TC Energy says its comparable earnings for its latest quarter amounted to C$1.03 per share compared with C$1.00 per share a year earlier.

The average analyst estimate had been for a profit of 95 cents per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Nov. 7, 2024.

Companies in this story: (TSX:TRP)

The Canadian Press. All rights reserved.

Source link

Continue Reading

Business

BCE reports Q3 loss on asset impairment charge, cuts revenue guidance

Published

 on

 

BCE Inc. reported a loss in its latest quarter as it recorded $2.11 billion in asset impairment charges, mainly related to Bell Media’s TV and radio properties.

The company says its net loss attributable to common shareholders amounted to $1.24 billion or $1.36 per share for the quarter ended Sept. 30 compared with a profit of $640 million or 70 cents per share a year earlier.

On an adjusted basis, BCE says it earned 75 cents per share in its latest quarter compared with an adjusted profit of 81 cents per share in the same quarter last year.

“Bell’s results for the third quarter demonstrate that we are disciplined in our pursuit of profitable growth in an intensely competitive environment,” BCE chief executive Mirko Bibic said in a statement.

“Our focus this quarter, and throughout 2024, has been to attract higher-margin subscribers and reduce costs to help offset short-term revenue impacts from sustained competitive pricing pressures, slow economic growth and a media advertising market that is in transition.”

Operating revenue for the quarter totalled $5.97 billion, down from $6.08 billion in its third quarter of 2023.

BCE also said it now expects its revenue for 2024 to fall about 1.5 per cent compared with earlier guidance for an increase of zero to four per cent.

The company says the change comes as it faces lower-than-anticipated wireless product revenue and sustained pressure on wireless prices.

BCE added 33,111 net postpaid mobile phone subscribers, down 76.8 per cent from the same period last year, which was the company’s second-best performance on the metric since 2010.

It says the drop was driven by higher customer churn — a measure of subscribers who cancelled their service — amid greater competitive activity and promotional offer intensity. BCE’s monthly churn rate for the category was 1.28 per cent, up from 1.1 per cent during its previous third quarter.

The company also saw 11.6 per cent fewer gross subscriber activations “due to more targeted promotional offers and mobile device discounting compared to last year.”

Bell’s wireless mobile phone average revenue per user was $58.26, down 3.4 per cent from $60.28 in the third quarter of the prior year.

This report by The Canadian Press was first published Nov. 7, 2024.

Companies in this story: (TSX:BCE)

The Canadian Press. All rights reserved.

Source link

Continue Reading

Business

Canada Goose reports Q2 revenue down from year ago, trims full-year guidance

Published

 on

 

TORONTO – Canada Goose Holdings Inc. trimmed its financial guidance as it reported its second-quarter revenue fell compared with a year ago.

The luxury clothing company says revenue for the quarter ended Sept. 29 totalled $267.8 million, down from $281.1 million in the same quarter last year.

Net income attributable to shareholders amounted to $5.4 million or six cents per diluted share, up from $3.9 million or four cents per diluted share a year earlier.

On an adjusted basis, Canada Goose says it earned five cents per diluted share in its latest quarter compared with an adjusted profit of 16 cents per diluted share a year earlier.

In its outlook, Canada Goose says it now expects total revenue for its full financial year to show a low-single-digit percentage decrease to low-single-digit percentage increase compared with earlier guidance for a low-single-digit increase.

It also says it now expects its adjusted net income per diluted share to show a mid-single-digit percentage increase compared with earlier guidance for a percentage increase in the mid-teens.

This report by The Canadian Press was first published Nov. 7, 2024.

Companies in this story: (TSX:GOOS)

The Canadian Press. All rights reserved.

Source link

Continue Reading

Trending