China extends EV tax break; Li Auto shares fall after delivery outlook cut

Li Auto warned that “supply chain constraint” would mean the company will deliver fewer cars than expected in the third quarter. Meanwhile, China has extended a tax exemption for new energy vehicles until the end of 2023 as it looks to spur growth for electric cars. CFOTO | Future Publishing | Getty Images Shares of […]

Boeing to pay $200 million to settle SEC charges on misleading investors after deadly 737 Max crashes

A Boeing 737 MAX 7 aircraft lands during an evaluation flight at Boeing Field in Seattle, Washington, September 30, 2020. Lindsey Wasson | Reuters Boeing will pay $200 million and it then-CEO Dennis Muilenburg will pay $1 million to settle charges over misleading investors in the wake of two deadly crashes of 737 Max jetliners, […]

California Voted for Cheaper Uber and Lyft Rides. It May Have Hurt Drivers

In 2020, California voters approved Proposition 22, a law that app-based companies including Uber, Lyft, and DoorDash said would improve worker conditions while keeping rides and deliveries cheap and abundant for consumers. But a report published today suggests that rideshare drivers in the state have instead seen their effective hourly wage decline compared to what […]

Volkswagen targets $70.1 billion to $75.1 billion valuation in planned Porsche IPO

The name of the car manufacturer Porsche is attached to the curved facade of the newly built Porsche Centre in Magdeburg. Stephan Schulz | picture alliance via Getty Images Volkswagen is targeting a valuation of 70 billion to 75 billion euros ($70.1 billion to 75.1 billion) for luxury sportscar maker Porsche as part of a […]

Biden pushed railways, unions to ‘be creative,’ White House says

President Joe Biden urged railway executives and union leaders to be creative and flexible in finding a compromise to avoid a shutdown that could have disrupted the transport of goods across the U.S., White House Press Secretary Karine Jean-Pierre said. “The president’s message — it was very clear — we must get a deal done,” […]

Ferrari unveils Purosangue, a 4-door, V-12-powered sports car

Ferrari Purosangue Source: Ferrari Ferrari on Tuesday revealed its new Purosangue, the 75-year-old sports car maker’s first-ever four-door production vehicle. The Purosangue looks like an SUV, akin to other luxury sports SUVs from brands like Porsche and Maserati. But despite its size, shape and higher stance, the company insists that the Purosangue – which means […]

Delivery trucks are driving billions of miles completely empty

Trucks traveling empty has both financial and environmental costs. John Lamb | Photodisc | Getty Images The road freight industry has a big problem. Every day, thousands of trucks drive along miles of freeways and highways completely empty — and the distances they drive with zero cargo onboard reaches many billions of miles every year. […]

Mixed performance with progress and delays

The company’s Electron rocket carrying the CAPSTONE mission lifts off from New Zealand on June 28, 2022. Rocket Lab The second quarter was a mixed bag for space companies, with some firms posting steady progress while others faced setbacks. Most space stocks, many of which went public last year through SPAC deals, are struggling despite […]

GM’s Cruise Recalls Self-Driving Software Involved in June Crash

Autonomous driving company Cruise and US regulators said today that the General Motors subsidiary had recalled software deployed on 80 vehicles after two people were injured in a June crash involving a Cruise car operating autonomously in San Francisco. The incident occurred one day after the state of California granted Cruise a permit to start […]

How Amazon is giving Rivian an edge in the EV industry

Following in Tesla’s footsteps, another electric vehicle company has been making a name for itself, with a unique spin: Rivian Automotive. Founded in 2009, Rivian is focusing on upscale electric trucks and SUVs with an emphasis on outdoor adventure. CNBC’s John Rosevear calls them the “Patagonia of electric vehicles.” Rivian launched its first vehicle, the […]

Here’s What Happens When Countries Use Bikes to Fight Emissions

Transportation produces about a quarter of the world’s greenhouse gas emissions, and passenger vehicles account for over half that figure. As such, nearly every plan for future emissions cuts includes some variant of getting people out of internal-combustion vehicles—typically into electric versions of the same vehicle. But a couple of countries have managed an alternate […]

Rivian (RIVN) earnings Q2 2022

Rivian electric pickup trucks sit in a parking lot at a Rivian service center on May 09, 2022 in South San Francisco, California.  Justin Sullivan | Getty Images Electric vehicle maker Rivian Automotive maintained its full-year guidance for deliveries Thursday and reported second-quarter revenue that was higher than Wall Street expected. But it trimmed its […]

Boeing delivers first 787 Dreamliner since 2021 after manufacturing flaws

An employee works on the tail of a Boeing Co. Dreamliner 787 plane on the production line at the company’s final assembly facility in North Charleston, South Carolina. Travis Dove | Bloomberg | Getty Images Boeing delivered its first 787 Dreamliner in more than a year on Wednesday, ending a pause on handovers of the […]

Shipping firm Maersk warns of weak demand and warehouses filling up

A.P. Moller-Maersk, is one of the world’s biggest container shippers with a market share of around 17%, and is widely seen as a barometer of global trade. Andia | UIG via Getty Images AP Moller-Maersk on Wednesday predicted a slowdown in global shipping container demand this year amid weakening consumer confidence and supply chain congestion. […]

Masten files for bankruptcy after NASA moon contract struggle

Lunar-focused company Masten Space Systems filed for Chapter 11 bankruptcy protection on Thursday, with the venture winnowed down to a handful of people after layoffs and furloughs. The space company declared as its debts ballooned, tracing back to a NASA contract awarded to Masten two years ago. Once seen as a major win for the […]

Pilots describe toxic culture and airline errors

The chaos engulfing many major airports in North America and Europe since summer began hasn’t abated much, and news outlets and social media users continue to report on hordes of impatient travelers and mountains of misplaced suitcases. Source: Getty Images Canceled flights. Long lines. Staff walkouts. Missing luggage.  Sound familiar? The chaos engulfing many major […]

General Motors (GM) earnings Q2 2022

GM CEO Mary Barra talks with media prior to the start of the 2017 General Motors Company Annual Meeting of Stockholders Tuesday, June 6, 2017 at GM Global Headquarters in Detroit, Michigan. Photo by John F. Martin for GM General Motors reported second-quarter earnings that fell short of Wall Street’s estimates after the company was […]

How Ireland landed in the center of Russia’s $10 billion plane heist

International sanctions on Russia in the aviation sector have triggered a global scramble by overseas plane lessors to recover $10 billion worth of aircraft stuck in the country. Following the invasion of Ukraine, international sanctions were imposed on key Russian individuals and industries. One of the big targets was the Kremlin’s aviation sector. This triggered […]

United Airlines (UAL) 2Q 2022 earnings

An aircraft takes off from O’Hare International Airport on January 18, 2022 in Chicago, Illinois. Scott Olson | Getty Images United Airlines on Wednesday notched a key profit milestone in its pandemic recovery, but said it will scale back its growth plans through 2023. United reported its first quarterly profit — $329 million — since […]

GM reveals Chevrolet Blazer EV with pricing up from $45,000

2024 Chevrolet Blazer SS EV GM DETROIT – General Motors on Monday revealed its new electric Chevrolet Blazer that’s expected to compete against the Ford Mustang Mach-E and Tesla Model Y crossover EVs. The vehicle marks an important launch for the Detroit automaker in attracting attention and more mainstream consumers to EVs. The 2024 Blazer […]

The Dangerous Chemicals Lurking Inside Shipping Containers

For their study, Hinz and her colleagues enlisted the help of the New Zealand customs authority. Staff used probes, which they pushed through the rubber seals of the container doors, to collect gas samples from 490 sealed containers. Hinz also gathered air samples from dozens of other containers herself, tracking how the concentrations of compounds […]

United Airlines, pilots’ union to renegotiate contract after last deal faced opposition

United Airlines and its pilots’ union are going back to the negotiating table for a new contract, a setback for the carrier after it was the first to reach a tentative agreement since the pandemic started. The United branch of the Air Line Pilots Association acknowledged Wednesday that the current agreement “fell short” of some […]

Ford’s Mustang Mach-E electric crossover awards could help it take on Tesla

Ford’s first real attempt at an electric vehicle has been quite a hit with critics. The Mustang Mach-E replaced the Tesla Model 3 as Consumer Reports’ Top Pick in February 2022. It was named the Top Car in the Automobile Association of America (AAA) Car Guide in May. Car and Driver awarded it the magazine’s […]

Spirit-Frontier merger in question after another vote delay, JetBlue circles

The fate of Spirit Airlines’ merger with fellow budget carrier Frontier Airlines is growing murkier. Spirit this week delayed its shareholder meeting for a third time, opening the door to more talks from both Frontier and rival suitor JetBlue Airways. The latter two delays each came just hours before Spirit shareholders were due to vote […]

Spirit again delays vote on Frontier deal to continue deal talks with budget airline and JetBlue

A Frontier Airlines plane near a Spirit Airlines plane at the Fort Lauderdale-Hollywood International Airport on May 16, 2022 in Fort Lauderdale, Florida. Joe Raedle | Getty Images Spirit Airlines is again delaying a shareholder vote set for Friday on its deal to merge with Frontier Airlines, a win for competing suitor JetBlue Airways, which […]

German road traffic agency says 59,000 Tesla vehicles have software glitch

Tesla CEO Elon Musk speaks during the official opening of the new Tesla electric car manufacturing plant on March 22, 2022 near Gruenheide, Germany. Christian Marquardt | Getty Images Germany’s road traffic agency said it was recalling Tesla models Y and 3 because of a fault in the automatic emergency call system that affects 59,000 vehicles […]

Ryanair cabin crew in Spain announce 12 new days of strikes in July

A Ryanair aircraft, which was carrying Belarusian opposition blogger and activist Roman Protasevich and diverted to Belarus, where authorities detained him, lands at Vilnius Airport in Vilnius, Lithuania May 23, 2021. Andrius Sytas | Reuters Spain-based cabin crew at Ryanair plan to strike for 12 days this month to demand better working conditions, the USO and […]

American Airlines scheduling glitch allows pilots to drop thousands of July flights

An American Airlines Boeing 787-9 Dreamliner approaches for a landing at the Miami International Airport on December 10, 2021 in Miami, Florida. Joe Raedle | Getty Images A glitch in a scheduling platform allowed American Airlines pilots to drop thousands of trips in July last night, their union said Saturday, a headache for the airline […]

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