05 Aug Qualcomm Offers $4.6 Billion for Veoneer, Topping Magna Bid Qualcomm Inc. offered to buy automotive technology company Veoneer Inc. for $4.6 billion, muscling in on a bid Magna International Inc. made for the supplier last month. Read more...
05 Aug Uber’s Do-It-All Approach Stalls Pursuit of Profit Another quarter passed, and Uber Technologies Inc. is a little further from its goal of posting an adjusted profit by the end of the year. Read more...
05 Aug Yellow Narrows Year-Over-Year Loss to $9.4 Million in Q2 Yellow Corp. reported an increase in net revenue and a narrower net loss for the second quarter. Read more...
05 Aug Inspectors Remove 6,710 CMVs, 2,080 Drivers During Roadcheck Inspectors removed 6,710 commercial motor vehicles and 2,080 drivers from roadways — a 16.5% vehicle and 5.3% driver out-of-service rate — over the May 4-6 International Roadcheck, the Commercial Vehicle Safety Alliance announced. Read more...
05 Aug CVG Reaches Record Quarterly Revenue in Q2 Commercial vehicle supplier CVG reported higher second-quarter net income and record quarterly revenue as it continued to diversify its customer base and emphasize secular growth. Read more...
05 Aug Continental Sees Chips, Inflation Dragging on Auto Industry Continental AG, Europe’s second-biggest supplier of car parts, warned the global bottleneck in chip supply and raw material cost inflation will drag on the auto industry through the rest of the year. Read more...
05 Aug Trade Deficit Hits Record $75.7 Billion in June WASHINGTON — The U.S. trade deficit increased to a record $75.7 billion in June as a rebounding American economy sent demand for imports surging. Read more...
05 Aug Driverless Semi Reaches Milestone in Test, Plus Says Silicon Valley startup Plus says the global race to develop fully autonomous trucks reached a milestone when a semi used its technology to navigate traffic on a Chinese highway with no driver, even as a safety backup. Read more...
05 Aug Jobless Claims Down 14,000 to 385,000 as Economy Rebounds WASHINGTON — The number of Americans applying for unemployment benefits fell last week by 14,000 to 385,000, more evidence that the economy and the job market are rebounding briskly from the coronavirus recession. Read more...
05 Aug Automakers Join Biden in Pledge to Boost EV Sales DETROIT — The Biden administration wants automakers to raise gas mileage and cut tailpipe pollution between now and model year 2026, and it has won a voluntary commitment Aug. 5 from the industry that electric vehicles will comprise up to half of U.S. sales by the end of the decade. Read more...