Latest news with #Michigan-based
Miami Herald
5 hours ago
- Automotive
- Miami Herald
Ford Issues Massive Recall for 1.1 Million Vehicles This Week
Ford is recalling 1,075,299 vehicles in the U.S. over a software error that potentially prevents the rearview camera from displaying a proper live feed. More specifically, the rearview camera's images may delay, freeze, or not display at all when affected vehicles are in reverse, according to the NHTSA's report. The recall applies to Ford's 2021-2024 Bronco, F-150, Edge, and 2023-2024 Escape, Corsair, F-250, F-350, F-450, F-550, and F-600. The 2022-2024 Expedition, 2022-2025 Transit, 2021-2023 Mach-E, Lincoln Nautilus, 2024 Ranger, Mustang, and the 2022-2024 Navigator are also impacted. A dealer or over-the-air software update will soon solve the problem with the vehicles' accessory protocol interface module (APIM) software, which serves as an operating system for a car's dashboard. This operating system helps a vehicle's infotainment system control programs, including but not limited to apps and navigation maps. There are no warning signs before the described rearview camera problem occurs. Documents related to the issue report that Ford is aware of one minor crash associated with the software problem, resulting in property damage, but no injuries or deaths. The automaker was initially contacted by the NHTSA about the issue in January after receiving three dozen complaints for 2021-2023 Ford F-150 models. Potentially affected owners are scheduled to receive a notice of the recall by mail between May 19 and May 23, whereas dealers were informed of the recall on May 12. Those driving impacted models compatible with over-the-air software updates must be connected to Wi-Fi to successfully complete the remote upgrade or visit a dealer. Ford's recall represented this week's largest recall order, with Toyota coming in second place at 443,444 vehicles. The Michigan-based automaker also leads all manufacturers in 2025 recalls at over 50, and the gap between first and second place is significant, according to CarEdge data. Through May 15, the Volkswagen Group has the second-highest number of recalls in 2025, at 14. General Motors and Stellantis North America are tied for the third-most at 11. Mercedes-Benz and Honda are tied for fourth with 9 recalls through May 15. Stellantis had the most recalls last year at 71. Ford models like the Explorer, Aviator, and Expedition have all undergone seatbelt recalls. The Volkswagen Group had one of the most unique recalls this year when its electric van was recalled due to a third-row bench seat that was deemed too wide for the van's number of seatbelts. Volkswagen dealers are responding by installing trim parts that reduce the rear seat's usable width. While Stellantis dethroned Ford's 2023 position as having the most recalls in 2024, the automaker has recaptured this undesirable status, and the competition isn't even close this year. The Michigan-based automaker has also issued the most recalls out of any manufacturer in history, with the F-150 pickup being the model most associated with its recalls. As bad luck would have it, the truck is yet again making an appearance with its inclusion in the NHTSA's list of vehicles potentially impacted by the rearview camera defect. Copyright 2025 The Arena Group, Inc. All Rights Reserved.
Yahoo
2 days ago
- Business
- Yahoo
GPN to Sell Payroll Business for $1.1Bn, Boosts Focus on Core Operations
Global Payments Inc. GPN recently inked a definitive agreement with the Michigan-based fintech Acrisure to sell its Payroll business. The deal is valued at $1.1 billion and is anticipated to be completed in the second half of 2025, subject to regulatory nod and other customary closing conditions. Its shares gained 1.2% on May 29. Once completed, the after-tax proceeds derived from the divestiture will be utilized to return capital to shareholders. Global Payments and Acrisure have entered into a mutual referral and long-term commercial partnership as part of the recent deal. As a result, GPN will continue offering integrated human capital management and payroll solutions to its merchant clients within its broader commerce enablement platform. The latest move aligns with Global Payments' transformation strategy to streamline business operations and boost shareholder value. The transaction is likely to reflect GPN's endeavor to free up capital for increased investments in growing its core areas of operations and reinforce its position as a top-tier commerce solutions provider serving merchants of all sizes. Global Payments seems to be quite active in undertaking divestitures. In April 2025, the company entered into a definitive agreement to sell its Issuer Solutions business to Fidelity National Information Services, Inc. FIS for $13.5 billion. Concurrently, it will purchase Worldpay from GTCR and FIS for a net purchase price of $22.7 billion. Both transactions are likely to close in the first half of 2026, subject to regulatory nod and fulfillment of other customary closing conditions. The company had also divested the software-as-a-service solutions provider, AdvancedMD, in 2024. It formed part of Global Payments' Merchant Solutions segment. GPN sold the consumer part of its Netspend business along with its gaming business in 2023. Global Payments also seems to be quite active in returning capital to shareholders and plans to utilize the divestiture proceeds of its Payroll business, once completed, bear testament to the same. In October 2024, management approved an increase in its existing share repurchase program and the total authorization amount stood at $2.5 billion. It conducted share repurchases of $446.3 million and paid dividends of $61.1 million in the first quarter of 2025. Its dividend yield of 1.3% remains higher than the industry's average of 0.6%. Shares of Global Payments have dipped 1% in the past month against the industry's 3.9% growth. GPN currently carries a Zacks Rank #3 (Hold). Image Source: Zacks Investment Research Some better-ranked stocks in the Business Services space are Limbach Holdings, Inc. LMB and SPX Technologies, Inc. SPXC. While Limbach currently sports a Zacks Rank #1 (Strong Buy), SPX Technologies carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here. Limbach's earnings surpassed estimates in each of the last four quarters, the average surprise being 91.17%. The Zacks Consensus Estimate for LMB's 2025 earnings indicates a rise of 21.9% while the same for revenues implies an improvement of 18.7% from the respective 2024 figures. The consensus mark for LMB's 2025 earnings has moved 27.2% north in the past 30 days. The bottom line of SPX Technologies beat estimates in each of the trailing four quarters, the average surprise being 8.27%. The Zacks Consensus Estimate for SPXC's 2025 earnings indicates a rise of 13.3% while the same for revenues implies an improvement of 11.7% from the respective 2024 figures. The consensus mark for SPXC's 2025 earnings has moved 2.9% north in the past 30 days. Shares of Limbach and SPX Technologies have gained 29.6% and 11.1%, respectively, in the past month. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Fidelity National Information Services, Inc. (FIS) : Free Stock Analysis Report Global Payments Inc. (GPN) : Free Stock Analysis Report SPX Technologies, Inc. (SPXC) : Free Stock Analysis Report Limbach Holdings, Inc. (LMB) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Yahoo
3 days ago
- Business
- Yahoo
Contract awarded for Conneaut dredging
CONNEAUT — The United States Army Corps of Engineers awarded a $4 million contract to Michigan-based Walsh Service Solutions to dredge of federal navigation channel in the city's harbor, according to a release from the agency. Dredging will begin in mid-August and end mid-September, and the contract stipulates a total of around 70,000 cubic yards of material will be removed from the channel, according to the release. 'Dredging of harbors like these ensures accessible depths for large vessels, the continued flow of commodities across the Great Lakes, and the economic viability of United States waterways,' the release said. Conneaut's harbor supports $132 million in business revenue and $41 million in income for transportation labor. The release said the harbor has handled 2.9 million tons of cargo in 2022, 98% of which was iron ore. Conneaut City Manager Nick Sanford said Walsh will work with Kurtz Brothers, the company that oversees the Conneaut Creek Dredge Reclamation Facility. The city will be paid a tipping fee for the dredged material placed in the facility, he said. Dredging operations in Conneaut are generally restricted to the federal shipping channel, Sanford said. Before 2024, the city's harbor was last dredged in 2019, Sanford said. A state ban on open-lake dumping of dredged material became effective July 1, 2020. Sanford said the city developed its own dredging plan in-line with state law. 'The Conneaut plan was designed for implementation in 2023; however unforeseen regulatory delays furrowed the agencies into 2024,' he said. Sanford said, from his understanding, the city's dredge reclamation facility had a great inaugural year. 'The facility performed exactly as designed, dewatering just over 77,000 cubic yards of dredged material from the floor of Conneaut harbor,' he said.
Middle East Eye
3 days ago
- General
- Middle East Eye
Gaza Humanitarian Foundation accused of using charity logo without consent
US-based charity Rahma Worldwide has accused the newly created Gaza Humanitarian Foundation (GHF) of using photos of aid deliveries in Gaza containing its logo as part of its press pack without consent. The charity told The Guardian it had allowed GHF to take "custody" of its aid; however, on its Facebook account, it said GHF "took custody", leading to confusion over whether Rahma had provided consent. Rahma Worldwide is a Michigan-based charity that, according to its website, provides 'aid and assistance to the most vulnerable communities around the world'. Rahma said in a Facebook statement that it had been waiting for four days to transport 4,000 boxes of food and 16 containers of wheat into Gaza, but the logistics organisation that was supposed to transport aid 'did not deliver.' It said that GHF took custody of the aid and asked Rahma to 'assist with distribution', but Rahma refused. Rahma told The Guardian that it had asked for its logo to be removed from aid parcels. New MEE newsletter: Jerusalem Dispatch Sign up to get the latest insights and analysis on Israel-Palestine, alongside Turkey Unpacked and other MEE newsletters Photos of the logo in GHF's press materials include both Rahma and a partner organisation called Heroic Hearts, based in Illinois. The controversial privately-run GHF, which is backed by Tel Aviv and Washington, was formed to oversee aid distribution across Gaza, with the intention of sidelining all existing structures, including the United Nations. Most humanitarian organisations, including the UN, have distanced themselves from GHF, arguing that the group violates humanitarian principles by restricting aid to south and central Gaza, requiring Palestinians to walk long distances to collect aid, and only providing limited aid, among other critiques. A former spokesperson for Unrwa has condemned the initiative as 'aid washing', a strategy meant to obscure the reality that 'people are being starved into submission'. Rahma Worldwide's logo on GHF's press materials implies a formal partnership and lends credibility to GHF, which has no experience with aid distribution and is being shunned by aid agencies. In the Facebook statement released on Thursday, Rahma said that it 'had noticed images of our food boxes with logo being distributed without Rahma's direct involvement". 'Rahma did not authorize such distribution and none of our team was allowed to participate in this process." It also added that it did not 'support or permit the presence' of armed groups during the distribution of aid. Siraj Muhammad, president of Heroic Hearts, told Middle East Eye in a statement that 'we are not in partnership with the Gaza Humanitarian Foundation (GHF) and are not involved in the aid distribution currently circulating in the media that features our branding'. 'These food parcels were part of a one-time shipment prepared in collaboration with Rahma Worldwide. Heroic Hearts and Rahma arranged the shipment to support vulnerable families in Gaza and coordinated the required approvals and logistics to ensure proper delivery,' Muhammad added. Muhammad said he regretted 'any confusion this may have caused'. Chaotic aid roll-out Chaos and violence erupted during GHF's first attempts to roll out aid at its distribution site in Rafah on Tuesday, as thousands of Palestinians, who have been denied food, water, and aid for 11 weeks, overwhelmed the distribution centre. What's inside the boxes of aid being distributed in Gaza? Read More » The Israeli military was accused of killing at least three civilians and injuring almost 50 others after it fired shots at people collecting aid, according to the Office of the High Commissioner for Human Rights. An Israeli military spokesperson said they were just firing 'warning shots'. Aid that has been distributed so far has been considered inadequate, with food boxes containing just a handful of ingredients. Jonathan Whittall, who heads the UN aid coordination office, said in a UN press release that 'People are being starved and then drip-fed in the most undignified way possible.' In addition, the executive director of GHF resigned from his position earlier this week, saying that Israeli restrictions meant that GHF could not adhere to 'humanitarian principles'. Controversy GHF has been rocked with controversy since its inception. Under the group's proposals, more than two million of Gaza's residents will be forced to collect food from one of four 'secure distribution sites'. None of the proposed sites are located in northern Gaza, a region that Israel has attacked and occupied, meaning those still living there will be forced to flee south to access life-saving aid. The deprivation of aid as a means to forcibly transfer a population is recognised as a crime against humanity. GHF's official announcement about its plans made no mention of Israel's repeated attacks on pre-existing food distribution centres, bakeries and aid convoys, in which hundreds of Palestinians have been killed while trying to feed their families, or Israel's obstruction of the pre-existing humanitarian system. Israel banned Unrwa, the primary UN aid agency for Palestinian refugees, from the country in January. The UN's emergency relief coordinator, Tom Fletcher, has described the plans put forward by GHF as a 'fig leaf for further violence and displacement'. Despite the January 2024 ruling by the International Court of Justice, which demanded immediate protection for civilians in Gaza and the widespread provision of humanitarian assistance, the situation has continued to deteriorate precipitously. A January 2025 survey of 35 humanitarian organisations working in Gaza revealed an overwhelming consensus: 100 percent reported that the approach taken by Israel was either ineffective, inadequate or had systematically impeded aid delivery. Rights groups say that warnings about mass malnutrition and the collapse of Gaza's health and social infrastructure have been ignored for years, and the imminent famine now afflicts a population that has been systematically deprived of food.
Miami Herald
3 days ago
- Business
- Miami Herald
SpartanNash's retail sales continue to drive positive results
Dive Brief: SpartanNash's first quarter net sales grew 3.7% during the first quarter of fiscal 2025, to $2.9 billion, with strong retail sales growth offsetting lower volumes in the company's wholesale segment, CFO and Executive Vice President Jason Monaco told investors Thursday morning. The company's retail net sales increased nearly 20% to just over $947 million, driven by incremental sales from acquired stores. Wholesale net sales dropped nearly 3% to just shy of $2 billion. SpartanNash plans to lean into its strong retail performance as it moves forward with growth initiatives, executives told investors. Dive Insight: SpartanNash's first-quarter results mark the fifth consecutive quarter that the grocery solutions company reported an increase in retail sales and the second consecutive quarter that its wholesale sales have dropped. Retail performance was primarily driven by SpartanNash's recent acquisitions as well as a 1.6% increase in comparable-store sales. SpartanNash CEO Tony Sarsam noted that the segment was "up against a tough backdrop" due to an ice storm in late March that impacted nearly 10% of the company's stores for multiple days in its "core market," implying that retail sales could have boomed even more if not for the adverse weather. The next phase of SpartanNash's ongoing strategic plan will put more focus on its retail business. Sarsam noted that the company has already begun onboarding retail-focused executives - like Matt Plum - and said the company will focus on improving the shopper experience with offerings that balance value, low prices and a differentiated offering. SpartanNash plans to continue investing in its retail segment through three growth platforms: expanding capital deployment into "slight conventional and up-market store remodels;" leaning into the convenience store sector; and growing in the Hispanic foods market by expanding its ethnic store footprint, Sarsam said. In late October, SpartanNash acquired three Michigan-based convenience store operator Markham Enterprises. At the time of that acquisition, SpartanNash operated 36 c-stores. Earlier this month, SpartanNash opened its fourth Supermercado Nuestra Familia in Omaha, Nebraska, and plans to open two or three more stores under the banner in the Midwest later this year as well as one or two in the first quarter of 2026, according to Sarsam. During Q1, the company made progress with its "margin-enhancing initiatives," which include supply chain and merchandising transformation, marketing innovation work and its go-to-market plan, Monaco said on the earnings call. The company recently launched a cost leadership program, which will includetapping into its scale to offer more procurement benefits, implementing automated solutions in distribution centers, and establishing new retail processes that are more time-efficient and labor-effective, Sarsam said. "The [cost leadership] program is expected to deliver $50 million of annual benefits with in-year gains this year of approximately $20 million. The program enables us to invest in growth and expand margins, all while offsetting industry headwinds," according to Sarsam. The company reaffirmed its 2025 guidance because "despite the macro environment, our results to date, as well as our expectations for growth programs, give us confidence that we will achieve the 2025 targets we laid out in February," Sarsam said. SpartanNash currently operates nearly 200 grocery stores across 10 states and distributes groceries to more than 2,300 independent retail locations. The company's banners include Family Fare, Martin's Super Markets and D&W Fresh Market. Copyright 2025 Industry Dive. All rights reserved.
