Pump jacks in Russia. (Andrey Rudakov/Bloomberg) OPEC+ agreed to surge output again in June, as the group’s leaders continue an accelerated revival of supply aimed at punishing overproducing members that has sent crude prices plunging. Key nations led by Saudi Arabia and Russia agreed to add 411,000 barrels a day next month, according to a ...more
Marine Terminals Corp. was awarded an $800,000 tax credit for an $8 million investment in heavy equipment and hiring three full-time employees as part of its expansion at Port Hueneme. (Port of Hueneme) California Gov. Gavin Newsom awarded a $29.3 million tax credit package to seven companies, including $1.5 million for a hydrogen fuel facility ...more
The House Transportation and Infrastructure panel gave partisan backing to an electric vehicle fee of $250 as well as a $100 fee for hybrid vehicles. (3alexd/Getty Images) House Republicans recently took a major step in their quest to approve as early as this month a comprehensive tax and budget measure supported by the Trump White ...more
The House Transportation and Infrastructure panel gave partisan backing to an electric vehicle fee of $250 as well as a $100 fee for hybrid vehicles. (3alexd/Getty Images) House Republicans recently took a major step in their quest to approve as early as this month a comprehensive tax and budget measure supported by the Trump White ...more
Ford CEO Jim Farley last week said the company won’t increase the price of its vehicles until it sees how rivals respond to added tariff costs. (Matt Rourke/Associated Press) Ford Motor Co. suspended its full-year financial guidance and said President Donald Trump’s auto tariffs will take a toll on profit, joining rivals stung by volatile ...more
(Morgan Olson) Morgan Olson has introduced a more compact addition to its fleet with the launch of the Kestrel work truck, designed to serve a growing demand for smaller, more efficient service vehicles. The Michigan-based manufacturer, known for its dominance in the step van segment, positioned the Kestrel as a versatile alternative for vocations ranging ...more
Rivian will get $16 million in state incentives for the supplier park, which includes a $5 million tax benefit over 20 years, as well as a capital grant. (Yuki Iwamura/Bloomberg) Rivian Automotive Inc. is investing $120 million in a new supplier park in Illinois, another win for Gov. JB Pritzker after the company announced a ...more
Tyson is “managing through the most challenging beef environment we’ve ever seen,” King said in a conference call with analysts. (Luke Sharrett/Bloomberg) Tyson Foods Inc. slumped the most since 2023 as investors shrugged off stronger-than-expected quarterly earnings to focus on deepening losses at the company’s beef business. The meat processor lost money on beef sales ...more
A former Sergeant with the Massachusetts State Police (MSP) was found guilty on dozens of charges related to a Commercial Driver’s License (CDL) bribery scheme. On May 2, Gary Cederquist, 59, was found guilty by a federal jury in Boston on the following charges:Two counts of conspiracy to commit extortionOne count of extortionSix counts of honest services ...more
Canadian police arrested a man in Alberta over the weekend for a bizarre rampage at a police station using a stolen trackhoe. Shortly before 7 p.m. on May 3, a man in a trackhoe entered the lot at the Bonnyville RCMP detachment after stealing the heavy equipment from a local business “moments prior,” police said ...more
