TSMC’s fabrication plant in Phoenix. (Rebecca Noble/Bloomberg) President Donald Trump and Taiwan Semiconductor Manufacturing Co.’s C.C. Wei walked into the Roosevelt Room of the White House this month to unveil one of the largest foreign investments in US history: a $100 billion bet that high-end chips can be made, once again, in the U.S. For ...more
The Volkswagen headquarters and auto plant in Wolfsburg, Germany. (Krisztian Bocsi/Bloomberg News) Volkswagen AG raised about 360 million euros ($393 million) through the sale of a 2.2% stake in Traton SE. The German carmaker offered around 11 million shares in its truck unit through an overnight placement, in a bid to enhance liquidity in the ...more
A ship under construction in Yangzhou, Jiangsu Province, China. (Meng Delong/VCG/Getty Images) A plan by the Trump administration to introduce fees on the use of Chinese commercial ships is likely to damage the U.S. economy and may fail to reverse China’s shipbuilding dominance, a top shipping trade group said. The Office of the U.S. Trade ...more
A cargo ship passes the Cheniere Energy liquefied natural gas plant in Port Arthur, Texas. (Brandon Bell/Getty Images) When the Biden administration stopped approving licenses to export U.S. liquefied natural gas in January of last year, officials said they first needed to determine how those shipments would affect the environment and economy. But the federal ...more
Elkann is focusing on ways to bolster Italian car production after a dramatic slump in local output last year. (Giuliano Berti/Bloomberg News) Stellantis NV Chairman John Elkann says Europe’s auto manufacturers don’t need the defense industry to survive, after some governments called on carmakers to contribute to a defense push. “China and the U.S. have ...more
Fed officials have kept rates steady this year after cutting them by a percentage point in the closing months of 2024. (Erin Scott/Bloomberg News) Federal Reserve officials held their benchmark interest rate steady for a second straight meeting, though they telegraphed expectations for slower economic growth and higher inflation. The Federal Open Market Committee voted ...more
“Today’s investment in SeaPort Manatee will grow Florida’s export potential and increase manufacturing in our great state,” DeSantis said. (SeaPort Manatee) Florida Gov. Ron DeSantis awarded $2 million to a SeaPort Manatee project to increase heavy truck capacity amid booming cargo shipments passing through a gate along U.S. Route 41 that opened to commercial vehicles ...more
Colonial operates the largest U.S. fuel pipeline system with a network covering more than 5,500 miles from Houston to New Jersey. (Samuel Corum/Bloomberg News) Brookfield Asset Management Ltd. is emerging as the front-runner to acquire Colonial Pipeline Co., people familiar with the matter said. The investment firm is seen as the strongest contender after final ...more
A retired railroad conductor is making headlines for his proposal to use trains to reduce commercial vehicle crashes and congestion along the I-70 mountain corridor in Colorado. The I-70 mountain corridor presents a number of risks for truckers — severe winter weather conditions, steep grades, brake failure risk, and hazards like rockfalls, fires, and floods. ...more
Two men were convicted for a human smuggling attempt that left dozens of people dead in San Antonio, Texas, in 2022. On March 18, Felipe Orduna-Torres, 30, and Armando Gonzalez-Ortega, 55, were each convicted by a federal jury on one count of conspiracy to transport illegal aliens resulting in death, resulting in serious bodily injury ...more
