Sean Duffy. (Jacquelyn Martin/Associated Press) President Donald Trump named Secretary of Transportation Sean Duffy as what he calls an interim administrator of NASA, replacing current acting administrator Janet Petro. “He will be a fantastic leader of the ever more important Space Agency, even if only for a short period of time,” Trump wrote on his ...more
Copper cathode sheets. (Oliver Bunic/Bloomberg) President Donald Trump said the U.S. would begin levying a 50% tariff on copper imports from Aug. 1, confirming a move that will hurt American producers of everything from automobiles to appliances. The higher-than-expected levy was signaled by Trump in comments to reporters on July 8, but the president took ...more
The Grok chatbot logo on a smartphone. (Andrey Rudakov/Bloomberg) Elon Musk said his artificial intelligence startup’s chatbot will be coming to Tesla Inc. vehicles days after the bot posted antisemitic content on his social media platform. “Grok is coming to Tesla vehicles very soon,” Musk posted July 10 on X. “Next week at the latest.” ...more
As Trump prepares to slap a 50% levy on imported copper as of Aug. 1, the global supply chain is sweating on details of the measure. (Cristobal Olivares/Bloomberg) U.S. buyers of copper will pay a high price if President Donald Trump pushes ahead with a 50% tariff on refined metal as opposed to products such ...more
The financial details of the operation haven’t been disclosed, the firm added. (Luke Sharrett/Bloomberg) Unilever PLC sold its Venezuelan ice cream business to truck dealer Mack de Venezuela CA, as a renewed bout of high inflation and political uncertainty hits the Andean nation’s private sector. The transaction, effective July 3, included the Tio Rico ice ...more
“Unfortunately, I think there is complacency in the markets,” Dimon said. (Patrick Bolger/Bloomberg) Markets are complacent on tariffs planned by U.S. President Donald Trump, JPMorgan Chase & Co. CEO Jamie Dimon has warned. “Unfortunately, I think there is complacency in the markets” in reaction to the tariff news, he said at an event in Dublin ...more
Spending from the Highway Trust Fund has exceeded revenues since 2001, according to Transportation and Infrastructure Chairman Sam Graves. (WendellandCarolyn/Getty Images) WASHINGTON — Policymakers in the House of Representatives will prioritize traditional surface transportation projects when they kick off negotiations on a multiyear highway policy bill over the coming months. That was the recent message ...more
In 2025, trucking was hoping for a rebound, but start-and-stop tariffs and an enduring weak freight market have made the prospects of a broad recovery difficult. (Mark Schiefelbein/Associated Press; WendellandCarolyn/Getty Images) The trucking industry is wrestling with an unclear market trajectory forged through a combination of chaotic geopolitical negotiations and enduring market weakness, a situation ...more
Tesla recently made its long-awaited autonomous ride-hailing service available to a small group of supporters and shareholders in a limited area of Austin. (Tim Goessman/Bloomberg) Tesla Inc. is aiming to bring its driverless taxis to California and Arizona as the carmaker plots an expansion on the heels of last month’s limited rollout in Austin. CEO ...more
The majority of the floor is made up of caster decking so that workers can move heavy, large units without machinery at the new FedEx facility at Detroit Metro Airport. (Daniel Mears/The Detroit News/TNS) ROMULUS, Mich. — One recent afternoon at FedEx’s new massive distribution hub, packages moved swiftly along an automated conveyor system as ...more
