12 Mar Report Projects Volkswagen to Be First to Profit From Manufacturing Electric Vehicles A new report picks Volkswagen as the first incumbent global carmaker to make money selling electric vehicles, with profits expected to arrive by 2022. Read more...
12 Mar Fed to Buy a Range of Treasury Bonds to Try to Ease Jitters WASHINGTON — The Federal Reserve will sharply increase its purchases of short-term U.S. Treasury bonds to try to ease anxiety and disruptions in the financial markets over the coronavirus outbreak. Read more...
12 Mar BMW Fourth-Quarter Profit Increases on Luxury-Car Sales BMW AG finished 2019 with an increase in automotive profit on rising luxury-car sales as the German manufacturer faces a year mired in concerns over the coronavirus outbreak that threatens to shut down global supply chains. Read more...
12 Mar Oil Falls Further After Travel Ban Deals Blow to Demand Oil headed for the biggest weekly decline since 2008 after President Donald Trump said the U.S. would restrict travel from Europe for the next 30 days in an attempt to contain the coronavirus, pummeling fuel demand. Read more...
12 Mar China Auto Sales Plunge in February BEIJING — China’s auto sales plunged 81.7% in February from a year ago after much of the economy was shut down to fight a virus outbreak, an industry group reported March 12. Read more...
12 Mar Washington Trucking Community Proceeds With Caution Amid Coronavirus Outbreak Sheri Call, executive vice president of Washington Trucking Associations, said her members are experiencing a slowdown because of COVID-19’s impact on trade with China. Read more...
12 Mar Trading Halted After Stocks Plunge 7% at Open NEW YORK— The S&P 500 dropped about 7% within the first few minutes of trading March 12, steep enough to trigger an automatic halt to trading on the New York Stock Exchange. Read more...
12 Mar Supply Chain Disruptions Rise Due to Virus The coronavirus is having a growing impact on supply chains, according to a new survey by the Institute for Supply Management in a report the Tempe, Ariz.-based nonprofit released March 11. Read more...
12 Mar Stakeholders’ Input Key to Shaping AV 4.0, Says USDOT Nominee Finch Fulton WASHINGTON — Industry stakeholders will assist U.S. Department of Transportation officials in shaping their latest version of guidelines for autonomous vehicles, said Finch Fulton, nominee to become assistant secretary for transportation policy. Read more...
12 Mar Claims for Jobless Benefits Drop by 4,000 WASHINGTON — The number of Americans filing new claims for unemployment insurance fell last week for a second straight week, an indication that the coronavirus had not yet hit the labor market in a major way. Read more...