01 Jul Musk Seeking Tesla Deliveries Record Could Be a Double-Edged Sword Analysts’ fear is that even if Tesla does show marked improvement in deliveries this quarter, Musk will achieve this at the expense of profitability. And with a shrinking U.S. tax credit posing a threat to demand in the second half of the year, Tesla’s efforts to hand over more Model 3s overseas could further compromise earnings because of relatively higher shipping expenses. Read more...
01 Jul Factory Gauge Drops Less Than Forecast, but Orders Stall A gauge of U.S. factory activity fell in June by less than forecast as output and jobs improved though new orders stalled, highlighting the repercussions of trade uncertainty and slower growth abroad. Read more...
01 Jul Brookfield Buys Rail Operator Genesee for $8.4 Billion An affiliate of Brookfield Asset Management Inc. agreed to buy railroad company Genesee & Wyoming Inc. for about $6.3 billion, expanding its global portfolio of rail companies with a 120-line network spanning North America, Europe and Australia. Read more...
01 Jul Global Manufacturing Slump Puts Reality Check on Trade Truce Global manufacturing took another knock at the end of the second quarter, signaling a worsening economic growth outlook as U.S.-China trade tensions continue to simmer. Read more...
28 Jun Cummins in Agreement to Acquire Hydrogenics Cummins Inc. has entered into an agreement to acquire fuel cell systems provider Hydrogenics Corp. for about $290 million, or $15 per share, the independent engine maker said. Read more...
28 Jun Roadrunner CFO Terence Rogers to Step Down in August Terence Rogers, Roadrunner Transportation Systems Inc.’s executive vice president and chief financial officer, has resigned from the company effective at the end of August. Read more...
28 Jun Volvo Group to Spend $400 Million on Plant Upgrades, Expansion The Volvo Group on June 28 announced plans to invest nearly $400 million over six years to upgrade its New River Valley, Va., plant that produces all Volvo trucks sold in North America. Read more...
28 Jun Midwest Deluge Spurs Cut in US Estimate for Soybean Acreage The spring deluge in the Midwest and Great Plains spurred a cut in the U.S. forecast for soybean acreage, a bigger reduction than analysts expected. Read more...
28 Jun Trump, Xi to Meet at Trade-War Crossroads Fraught With Risks President Donald Trump and China’s Xi Jinping are set to meet June 29 amid hopes they will hit the pause button in their trade war and resume the search for a longer-term peace. Read more...
28 Jun Secretary Elaine Chao Touts Positive Train Control Installment at Summit The U.S. Department of Transportation has recorded progress with the implementation of positive train control technology, the country’s top transportation official indicated recently. Read more...