Suspension, software issues cause Ford to issue recalls
Ford is recalling more than 1.3 million vehicles, mainly in North America, to fix rear suspension and transmission control software problems.
The largest recall covers over 1.2 million Explorer SUVS from 2011 through 2017. Ford says a rear suspension toe link can break if the suspension moves a lot. That can limit steering control. One customer reported running into a curb when a link broke, but Ford says it’s unaware of any injuries.
Dealers will replace the left and right toe links, which keep weight on the tires.
Ford also is recalling 123,000 2013 F-150 pickups for a second time to stop transmissions from unintentionally downshifting into first gear. The recall covers pickups with 5-liter and 6.2-liter gas engines. A previous software update didn’t work.
Thoughtwell, a data research business, plans to close within 60 days. Formerly named Community Research Partners, the business at 399 E. Main St. was open for 17 years.
Many of the company’s clients were nonprofit or government agencies who wanted to collect data, Thoughtwell board president Peggy Anderson said.
A closely watched measure of U.S. inflation trailed forecasts in May, reinforcing the case among investors for the Federal Reserve to cut interest rates.
The core consumer price index, which removes energy and food costs, rose 2% from a year earlier, according to a Labor Department report Wednesday. Economists surveyed by Bloomberg had predicted a 2.1% increase. Monthly core price-rises,
The name of the nation’s newest mega bank is Truist Bank.
Southern regional banking giants BB&T and Suntrust said Wednesday that the two would adopt the name for their merged institution.
The two banks announced their merger earlier this year, creating the nation’s sixth-largest bank by assets at $440 billion. The merged banks are poised to geographically dominate the South, where they are based.
The banks also announced Truist will be headquartered in Charlotte, North Carolina, a city already home to Bank of America. San Francisco-based Wells Fargo also has a large presence in the city.