Traffic moves along I-80 in Emeryville, Calif. (David Paul Moore/Bloomberg) Republicans moved a step closer May 1 to repealing a federal waiver allowing California to ban gasoline-powered cars by 2035, a policy that had drawn opposition from automakers, fuel producers and President Donald Trump himself. The U.S. House voted 246-164 to roll back an Environmental ...more
(CPKC) Canadian Pacific Kansas City Ltd. cut its financial outlook for this year due to the uncertainty caused by the U.S. administration’s tariff and trade policy. The Calgary-based company lowered its earnings per share growth expectations to between 10% and 14% from between 12% and 18% on an adjusted diluted basis. The railway, Canada’s second ...more
The General Motors headquarters inside the Renaissance Center in Detroit. (Jeff Kowalsky/Bloomberg News) General Motors is lowering its profit expectations for the year as the carmaker braces for a potential impact from auto tariffs as high as $5 billion in 2025. GM announced early this week that it was reassessing its expectations for 2025 due ...more
Elon Musk at the White House. (Andrew Harnik/Getty Images/Bloomberg) Tesla Inc.’s chair denied a report that said board members started a search for a CEO to succeed Elon Musk, saying directors are “highly confident” in his abilities. The Wall Street Journal reported late April 30 that unidentified Tesla board members had reached out to executive ...more
Before removing human operators from the cab, Aurora completed a formal safety case — a structured body of evidence that demonstrates the system is acceptably safe for deployment. (Aurora Innovation) Aurora Innovation has launched the nation’s first commercial driverless freight service, sending autonomous 18-wheelers between Dallas and Houston without a human behind the wheel. The ...more
The U.S. and EU flags. (E4C/Getty Images) The European Union is planning to share a paper with the U.S. next week that will set out a package of proposals to kick-start trade negotiations with the Trump administration. The paper will propose lowering trade and non-tariff barriers, boosting European investments in the U.S., cooperating on strategic ...more
Amazon first-quarter sales increased 9% to $155.7 billion, compared with the average estimate of $155.2 billion. Operating income was $18.4 billion. Analysts projected $17.5 billion. (Hollie Adams/Bloomberg News) Amazon.com Inc. gave a weaker-than-expected forecast for operating profit in the current quarter, pointing toward tariffs and trade policies that may cause consumers to pull back on ...more
AGCO Corp. tractors in Louisville, Ky. (Luke Sharrett/Bloomberg News) Farmers are still delaying equipment purchases a President Donald Trump’s tariffs cloud demand for crops and risk further extending a yearslong slump in the sector. Top tractor makers CNH Industrial NV and AGCO Corp. each reported lower first-quarter sales May 1 and pointed to the potential ...more
A liquid hydrogen fuel tank on Daimler's GenH2 truck. (Daimler Truck) ANAHEIM, Calif. — Affordable and available hydrogen is critical to large-scale adoption of fuel cell systems and internal combustion engines that use the fuel, but it’s up to manufacturers and fuel producers to develop solutions and help address the economic and operational hurdles fleets ...more
Trucks leave the Port of Los Angeles. The Port of LA processed 778,406 20-foot equivalent units during the month, a 4.7% increase from 743,417 in 2024. (Eric Thayer/Bloomberg News) Container volume grew at U.S. ports in March despite uncertainty around tariffs. The Port of Los Angeles processed 778,406 20-foot equivalent units during the month, a ...more
