McNealy cautioned that expectations for subdued build and order intake levels this year remain intact. (Stoughton Trailers via Facebook) U.S. trailer orders continued fluctuating between year-over-year gains and losses by increasing again during May, ACT Research reported. Preliminary net data showed orders increased 12% to 6,600 units when compared with the same time last year. ...more
“The last eight years have been about building the infrastructure to enable vehicle intelligence at scale,” Ludwig said. (Applied Intuition) Artificial intelligence-powered vehicle software supplier Applied Intuition said June 17 it had raised $600 million in funding, valuing the company at $15 billion. Applied Intuition is building a software-defined operating system for Traton Group, the ...more
Logo of Nippon Steel on the exterior of Blast Furnace No. 1 at the company's Kashima Plant in Kashima, Japan. (Ayaka McGill/AP) Nippon Steel Corp. closed its $14.1 billion takeover of United States Steel Corp., bringing to an end an 18-month effort to combine the American and Japanese steelmakers, the companies said in a June ...more
President Donald Trump by Al Drago/Bloomberg The Trump administration is pressing ahead with another tariff barrage that some trade experts say is more legally sound than the president’s country-by-country duties and may end up having an equally broad effect on imports. The Commerce Department is set within weeks to announce the outcomes of its investigations ...more
Plains All American Pipeline crude oil storage tanks in West Odessa, Texas. (Angus Mordant/Bloomberg News) Keyera Corp. agreed to buy Plains All American Pipeline’s Canadian natural gas liquids business and some U.S. assets for C$5.15 billion in cash — about $3.8 billion U.S. dollars — significantly bulking up its pipeline system around the country. Plains ...more
Amazon headquarters in Seattle. (David Ryder/Bloomberg News) Amazon.com Inc. is ordering some corporate employees to move closer to their managers and teams, roiling a workforce already worried about job cuts and warnings from the top that artificial intelligence will shrink their ranks in the coming years. Workers are being told to relocate to such cities ...more
Fed Chairman Jerome Powell by Alex Brandon/AP WASHINGTON — Federal Reserve officials expect inflation to worsen in the coming months but they still foresee two interest rate cuts by the end of this year, the same as they projected in March. The Fed kept its key rate unchanged for the fourth straight meeting June 18, ...more
From left: Volvo Group CEO Martin Lundstedt, Coretura CEO Johan Lundén and Daimler Truck CEO Karin Rådström. (Daimler Truck) Daimler Truck and Volvo Group laid out the game plan for their truck operating system joint venture June 17. The truck and bus manufacturers said the JV, to be known as Coretura, would release its first ...more
The sale of the properties follows the disposal of seven facilities via private sale in May. (George Walker IV/Associated Press) A further eight terminals once operated by bankrupt less-than-truckload carrier Yellow are set to have new owners, according to court documents. Yellow’s administrators on June 17 asked Judge Craig Goldblatt of the U.S. Bankruptcy Court ...more
The 6th-generation Waymo Driver on Hyundai’s all-electric IONIQ 5 SUV. (Waymo) Alphabet Inc.’s Waymo has applied for a permit to test its robotaxis in New York City, underscoring its intent to operate in one of the largest ride-hailing markets in the U.S. despite an absence of local regulations supporting commercially operated autonomous vehicles. The company ...more
