(Micron via YouTube) Chipmaker Micron Technology Inc. said it will spend about $200 billion on U.S. manufacturing, research and development, the latest company to pledge large-scale investments in the country since President Donald Trump won election. The spending will include roughly $150 billion for domestic manufacturing capacity and another $50 billion for R&D, it said ...more
(Yuri Gripas/Bloomberg) President Donald Trump said he intended to send letters to trading partners in the next one to two weeks setting unilateral tariff rates, ahead of a July 9 deadline to reimpose higher duties on dozens of economies. “We’re going to be sending letters out in about a week and a half, two weeks, ...more
(Graeme Sloan/Bloomberg) Amazon.com Inc. is exerting more control over Whole Foods Market, largely ending the independence the grocery chain had retained since being acquired eight years ago. Under a reorganization announced last week, Whole Foods’ corporate employees are joining Amazon’s programs for pay, benefits and other functions. Jason Buechel, the Whole Foods CEO who was ...more
A driver charges her Tesla in Long Beach, Calif. (Damian Dovarganes/AP) WASHINGTON — President Donald Trump is expected to sign a measure June 12 that blocks California’s first-in-the-nation rule banning the sale of new gas-powered cars by 2035, a White House official told the Associated Press. The resolution Trump plans to sign, which Congress approved ...more
Excluding volatile food and energy prices, wholesale costs were up 0.1% from April and 3% from May 2024. (David Zalubowski/Associated Press) WASHINGTON — U.S. wholesale prices rose modestly last month from a year earlier, another sign that inflationary pressures remain mild. The Labor Department reported June 12 that its producer price index — which measures ...more
The company will return to court in the coming weeks to seek final approval from U.S. Bankruptcy Judge Craig Goldblatt for the full, $1.1 billion financing package. (Kiyoshi Ota/Bloomberg) Bankrupt auto-parts supplier Marelli Holdings Co. won court approval to borrow $518.9 million to help fund its reorganization after delaying a request for some parts of ...more
U.S. data earlier this month showed the largest-ever plunge in imports during April. (Chris Ratcliffe/Bloomberg) The International Monetary Fund is seeing signs that the rise in trade and activity to front-run U.S. President Donald Trump’s tariffs is beginning to unwind as the global economy still faces heightened uncertainty. Recent trade pacts Washington reached with China ...more
Trump came into office promising to radically remake the U.S.-China trade relationship and force Beijing to open markets to more American goods. (Al Drago/Bloomberg) President Donald Trump is hailing the latest trade framework with China as a game-changing breakthrough. Yet the deal he touted June 11 represents little more than a reset back to earlier ...more
President Donald Trump displays a signed bill June 12 that formally rolls back a Biden-era emissions policy that permitted California wide leeway in setting its own transportation emissions rules. (Al Drago/Bloomberg) President Donald Trump on June 12 hosted a signing ceremony at the White House with freight and trucking executives to formally roll back a ...more
An Estes tractor-trailer next to Yellow trailers. Estes landed the second-largest number of facilities in the highly anticipated first auction of Yellow terminals. (Estes Express Lines) Estes Express Lines is boosting its terminal capacity as it incorporates assets acquired from bankrupt motor carrier Yellow, President and Chief Operating Officer Webb Estes said. The less-than-truckload carrier ...more
