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First Look: 2021 Ford Bronco – Driving

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I haven’t driven it yet, but here’s my early verdict: The new Ford Bronco looks buckin’ cool.

The Bronco was introduced for 1966 as a direct competitor to Jeep. Ford interviewed Jeep owners to see what they didn’t like about their vehicles, and engineered those improvements into the Bronco. Ford says it did the same this time, once again to try and out-wrangle the Wrangler.

The original Bronco was later joined by the smaller Bronco II, and now alongside it is the milder Bronco Sport. The first Bronco also came as a pickup truck, but so far, there’s no official announcement of one to tackle Jeep’s Gladiator.

The Sport hits showrooms later this year, while the bigger Bronco arrives in the spring of 2021, in two- or four-door configurations. You can reserve any of them right now for $100.

The Bronco will range from $40,199 to $61,994, ranging from the base two-door to the top-trim four-door. The Sport starts at $32,199 and tops out at $40,199; for that price, will you take a loaded Sport or a base Bronco two-door?

The Bronco sits on a fully-boxed frame and it’s meant to be modular. Ford says with a wrench and an hour, you can “strip it almost to its bare bones” — all the easier to install some of the 200-plus accessories offered at launch. The bumper caps come off for more clearance, the inside grab handles can be moved around, and roof cargo such as a canoe can be tied to the hood loops, which double as trail sights.

The doors are frameless and come off — they average about 21 kilograms each — and unlike the Wrangler, they stow inside the vehicle and the mirrors stay on the body (although Jeep still has that folding windshield in its favour). Depending on the Bronco’s trim, you get a cloth top, or a removable hard roof with smaller, easier-to-handle sections. The crossbar is behind the rear seat, so everyone gets a full view of the sky.

There are six trim levels: Base, Big Bend, Black Diamond, Outer Banks, and the tougher Wildtrak and Badlands. The U.S. also gets a limited “Special Edition” at launch that won’t be offered in Canada.

Every Bronco engine is powered by an EcoBoost engine — that’s Ford-speak for turbocharged. The base 2.3L four-cylinder makes 270 horsepower and 310 pound-feet of torque, but you can upgrade to a twin-turbo 2.7L V6 good for 310 ponies and 400 lb.-ft. of torque — more horsepower than any production Wrangler, and you only get more twist if you opt for Jeep’s diesel.

Four-cylinder Broncos can be ordered with a seven-speed manual — actually a six-speed with a “crawler” gear. A ten-speed automatic is optional on the turbo-four and standard on the V6. Two transfer cases will be available, depending on trim: two-speed with shift-on-the-fly, or an advanced system with an “auto” 4×4 setting that can be used on pavement as well as off-road.

The rest of the greasy bits include an independent front suspension, Dana front and rear axles, available Spicer electronic locking diffs and Bilstein shocks, and a final drive ratio ranging from 3.73:1 to 4.7:1. Up the option ladder, there are 35-inch mud-terrain tires on beadlock-capable rims, and a stabilizer bar that can be disconnected during articulation — for when you’re on the trail and the horizon is sideways through the windshield.

Equipped with 35-inch tires, the gnarliest four-door Bronco gives you 11.5 inches of ground clearance, a 43.2-degree approach angle, 26.3-degree breakover, and 37-degree departure. Maximum towing capacity on all models is 3,500 pounds.

For those new to off-road, selectable drive modes include mud/ruts and rock crawl. There’s Trail Control, which works as low-speed cruise control, and one-pedal drive that operates both brake and throttle for the roughest stuff. You can also attach a dash rack to mount a phone or GoPro, and there are cameras in front of the wheels so you don’t need a spotter.

Once you’re back in base camp, swing open the hatch, slide out the tailgate seat, and open your beverage with the built-in bottle opener. While it still has a retro-style feel to it, the Bronco will offer several higher-tech features, such as Ford’s Sync 4 infotainment system, over-the-air vehicle updates to reduce dealer visits, and off-road navigation that can track and capture where you’ve been so you can share it with fellow off-roaders.

The Bronco Sport will also take you off the pavement, but not quite as deep into the wilds. It’s a unibody, based on the same platform that underpins the Ford Escape. All trims have a four-wheel-drive ystem that prioritizes the front axle and sends more to the rear as required, but the Badlands adds a twin-clutch rear unit with differential lock, and can deliver all rear-axle torque to one wheel if the other loses traction. Ford says it’ll outperform the Trailhawk versions of Jeep’s Cherokee and Compass — and both of those perform surprisingly well on tougher terrain.

The standard Bronco Sport engine is a 1.5-litre EcoBoost three-cylinder engine, making 181 horsepower and 190 lb.-ft. of torque, while a 2.0L EcoBoost engine with 245 horsepower and 275 lb.-ft. — provided you’re running premium fuel — is available. That’s the annoying way some automakers now present their power numbers to make them as high as possible, so expect a little less grunt on the regular-grade gas most people will use. Both engines come with an eight-speed automatic.

Bronco’s target customers prefer to drive into the wilderness, while Sport buyers tend to park at the edge and venture in themselves. So, two mountain bikes can fit standing up in the Sport’s cargo area, and accessories include a tent and ladder for sleeping on the roof. The liftgate includes floodlights, and you can get a slide-out table to go under them.

Like its rougher-tougher sibling, the Bronco Sport will offer the the Trail Control low-speed cruise, front camera, skid plates, drive modes with rock-crawl setting, and a washable rubber floor. Emergency front braking, blind-spot monitoring, lane-keep assist, and automatic high-beam headlights are standard, and adaptive cruise control and lane centering are available.

The Bronco Sport is also meant for those who want comfort during the week and blackflies on the weekend, and will get them there with more off-road capability than Ford’s other compact sport-utes. But it’s that hard-core Bronco that’s the big news here, and I can’t wait to get this thing on a trail to see what it’ll do.

There’s no question the Bronco looks the part. Now we just have to see if Ford really did out-Jeep the Jeep.

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Japan’s SoftBank returns to profit after gains at Vision Fund and other investments

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TOKYO (AP) — Japanese technology group SoftBank swung back to profitability in the July-September quarter, boosted by positive results in its Vision Fund investments.

Tokyo-based SoftBank Group Corp. reported Tuesday a fiscal second quarter profit of nearly 1.18 trillion yen ($7.7 billion), compared with a 931 billion yen loss in the year-earlier period.

Quarterly sales edged up about 6% to nearly 1.77 trillion yen ($11.5 billion).

SoftBank credited income from royalties and licensing related to its holdings in Arm, a computer chip-designing company, whose business spans smartphones, data centers, networking equipment, automotive, consumer electronic devices, and AI applications.

The results were also helped by the absence of losses related to SoftBank’s investment in office-space sharing venture WeWork, which hit the previous fiscal year.

WeWork, which filed for Chapter 11 bankruptcy protection in 2023, emerged from Chapter 11 in June.

SoftBank has benefitted in recent months from rising share prices in some investment, such as U.S.-based e-commerce company Coupang, Chinese mobility provider DiDi Global and Bytedance, the Chinese developer of TikTok.

SoftBank’s financial results tend to swing wildly, partly because of its sprawling investment portfolio that includes search engine Yahoo, Chinese retailer Alibaba, and artificial intelligence company Nvidia.

SoftBank makes investments in a variety of companies that it groups together in a series of Vision Funds.

The company’s founder, Masayoshi Son, is a pioneer in technology investment in Japan. SoftBank Group does not give earnings forecasts.

___

Yuri Kageyama is on X:

The Canadian Press. All rights reserved.

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Trump campaign promises unlikely to harm entrepreneurship: Shopify CFO

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Shopify Inc. executives brushed off concerns that incoming U.S. President Donald Trump will be a major detriment to many of the company’s merchants.

“There’s nothing in what we’ve heard from Trump, nor would there have been anything from (Democratic candidate) Kamala (Harris), which we think impacts the overall state of new business formation and entrepreneurship,” Shopify’s chief financial officer Jeff Hoffmeister told analysts on a call Tuesday.

“We still feel really good about all the merchants out there, all the entrepreneurs that want to start new businesses and that’s obviously not going to change with the administration.”

Hoffmeister’s comments come a week after Trump, a Republican businessman, trounced Harris in an election that will soon return him to the Oval Office.

On the campaign trail, he threatened to impose tariffs of 60 per cent on imports from China and roughly 10 per cent to 20 per cent on goods from all other countries.

If the president-elect makes good on the promise, many worry the cost of operating will soar for companies, including customers of Shopify, which sells e-commerce software to small businesses but also brands as big as Kylie Cosmetics and Victoria’s Secret.

These merchants may feel they have no choice but to pass on the increases to customers, perhaps sparking more inflation.

If Trump’s tariffs do come to fruition, Shopify’s president Harley Finkelstein pointed out China is “not a huge area” for Shopify.

However, “we can’t anticipate what every presidential administration is going to do,” he cautioned.

He likened the uncertainty facing the business community to the COVID-19 pandemic where Shopify had to help companies migrate online.

“Our job is no matter what comes the way of our merchants, we provide them with tools and service and support for them to navigate it really well,” he said.

Finkelstein was questioned about the forthcoming U.S. leadership change on a call meant to delve into Shopify’s latest earnings, which sent shares soaring 27 per cent to $158.63 shortly after Tuesday’s market open.

The Ottawa-based company, which keeps its books in U.S. dollars, reported US$828 million in net income for its third quarter, up from US$718 million in the same quarter last year, as its revenue rose 26 per cent.

Revenue for the period ended Sept. 30 totalled US$2.16 billion, up from US$1.71 billion a year earlier.

Subscription solutions revenue reached US$610 million, up from US$486 million in the same quarter last year.

Merchant solutions revenue amounted to US$1.55 billion, up from US$1.23 billion.

Shopify’s net income excluding the impact of equity investments totalled US$344 million for the quarter, up from US$173 million in the same quarter last year.

Daniel Chan, a TD Cowen analyst, said the results show Shopify has a leadership position in the e-commerce world and “a continued ability to gain market share.”

In its outlook for its fourth quarter of 2024, the company said it expects revenue to grow at a mid-to-high-twenties percentage rate on a year-over-year basis.

“Q4 guidance suggests Shopify will finish the year strong, with better-than-expected revenue growth and operating margin,” Chan pointed out in a note to investors.

This report by The Canadian Press was first published Nov. 12, 2024.

Companies in this story: (TSX:SHOP)

The Canadian Press. All rights reserved.

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RioCan cuts nearly 10 per cent staff in efficiency push as condo market slows

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TORONTO – RioCan Real Estate Investment Trust says it has cut almost 10 per cent of its staff as it deals with a slowdown in the condo market and overall pushes for greater efficiency.

The company says the cuts, which amount to around 60 employees based on its last annual filing, will mean about $9 million in restructuring charges and should translate to about $8 million in annualized cash savings.

The job cuts come as RioCan and others scale back condo development plans as the market softens, but chief executive Jonathan Gitlin says the reductions were from a companywide efficiency effort.

RioCan says it doesn’t plan to start any new construction of mixed-use properties this year and well into 2025 as it adjusts to the shifting market demand.

The company reported a net income of $96.9 million in the third quarter, up from a loss of $73.5 million last year, as it saw a $159 million boost from a favourable change in the fair value of investment properties.

RioCan reported what it says is a record-breaking 97.8 per cent occupancy rate in the quarter including retail committed occupancy of 98.6 per cent.

This report by The Canadian Press was first published Nov. 12, 2024.

Companies in this story: (TSX:REI.UN)

The Canadian Press. All rights reserved.

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