OECD Secretary General Mathias Cormann by OECD President Donald Trump’s aggressive trade policies have abruptly set the world onto a path of slower growth and higher inflation that could worsen notably if tensions escalate, the Organization for Economic Cooperation and Development said. The Paris-based club of 38 rich countries cut its outlook for most members ...more
The BYD Seagull at an auto show. (Qilai Shen/Bloomberg News) BYD Co. unveiled a new system for electric cars that the Chinese automaker says will allow them to charge almost as fast as it takes a regular car to refuel. BYD’s Chairman and founder Wang Chuanfu said a new battery and charging system was capable ...more
Luminar will report fourth-quarter results after the market closes on March 20. (Bridget Bennett/Bloomberg News) Luminar Technologies Inc. shares surged on March 17 after former NASA scientist Mark Rober test-drove a car equipped with the company’s lidar technology in a YouTube video and said it outperformed Tesla Inc.’s Autopilot feature. In the video, which has ...more
“I don’t know that I can tell you that I am” optimistic, Nash told Goldblatt. “But I’m not pessimistic either.” (Charlie Riedel/Associated Press) Creditors of defunct trucking firm Yellow Corp. will submit their own plan in coming days on how to split up the company’s remaining $550 million of cash and end its bankruptcy case. ...more
(Andyborodaty/Getty Images) The national average price for a gallon of diesel slipped 3.3 cents to $3.549, according to U.S. Energy Information Administration data released March 17. The decrease is the third in as many weeks, totaling 14.8 cents a gallon. That comes on the heels of four consecutive increases that totaled 3.8 cents. A gallon ...more
A worker arranges boxes of imported pork from the U.S. at a cold storage warehouse in Shanghai, China. (Raul Ariano/Bloomberg News) China’s government has renewed export registrations for some U.S. meat plants whose eligibility was set to lapse, raising hopes that shipments won’t be disrupted. The registrations for U.S. pork and poultry plants were renewed ...more
Volkswagen CEO Oliver Blume is slashing spending across the group to become more competitive. (Krisztian Bocsi/Bloomberg News) Volkswagen AG’s Audi plans to cut as many as 7,500 positions in Germany by 2029 as the automaker tries to shore up its flagging profitability. The reductions, which correspond to about 14% of the brand’s German workforce, won’t ...more
The steps come as the disarray surrounding prior tariff rollouts has inflicted political damage on the White House and left some of the duties open to legal challenges. (Hannah Beier/Bloomberg News) President Donald Trump’s top trade negotiator is attempting to inject order into sweeping new tariffs expected next month, after previous announcements roiled markets and ...more
The truck driver in a fatal crash that left five people dead was on central nervous system depressants at the time of the accident. The accident happened at 11:21 p.m. in a construction zone on Interstate 35 in Austin, Texas. Now, 37-year-old truck driver, Solomun Weldekeal Araya is facing multiple counts of intoxication manslaughter and ...more
Semi trucks are getting their GPS devices stolen in certain parts of Chicago for the last month, police say. The thefts started last month, with the most recent robbery occurring on Sunday, March 16th. The incidents occurred in the Gage Park, West Lawn, and Armour Square neighborhoods in the South and Southwest sides of Chicago, ...more
