12 Aug Mnuchin Pushes for Limited Stimulus as Stalemate Persists Treasury Secretary Steven Mnuchin renewed a push for a more limited next-round U.S. pandemic relief package of “a little more than $1 trillion” on Aug. 12, saying that Democratic demands for spending more could be discussed down the road. Read more...
12 Aug FMCSA Extends Emergency Relief Declaration to Sept. 14 The Federal Motor Carrier Safety Administration has again extended its emergency declaration relaxing hours-of-service rules for motor carriers that are providing direct assistance in support of coronavirus-related relief efforts. Read more...
12 Aug Tesla Splits Stock to Make Lofty Shares Attainable Again Tesla Inc. is splitting its richly valued shares in a 5-for-1 exchange, a move designed to make the stock less expensive for individual investors after the company became the world’s most valuable automaker. Read more...
12 Aug Inflation Quickened in July on Costs of Vehicles, Apparel U.S. consumer prices rose in July by more than expected on a jump in auto and apparel costs, though inflation remained broadly muted as the pandemic suppressed demand. Read more...
11 Aug Cummins, Navistar Extend Engine Partnership Independent engine maker Cummins Inc. and Navistar International Corp. announced Cummins will be the preferred supplier of Navistar’s medium-duty and heavy-duty big bore engines in its International trucks and IC buses in the U.S. and Canada. Read more...
11 Aug Occidental’s Lone Rig Shows Downfall of Permian Basin Oil Giant Occidental Petroleum Corp. will have just a single oil rig in the Permian Basin in the second half of the year, illustrating the scale of the shale industry’s pullback and the company’s debt woes. Read more...
11 Aug Boeing’s 2020 Gets Worse as Lost Max Orders Top 400 Boeing Co.’s lousy year got even worse in July, as lost orders for the grounded 737 Max topped 400 and the coronavirus pandemic stymied shipments of the 787 Dreamliner. Read more...
11 Aug Caltrans Turns to Recycled Bottles for Repaving Project The California Department of Transportation is repaving a segment of a state highway using only recycled materials in a pilot project. Read more...
11 Aug CVG Reports Q2 Net Loss, Lower Revenue Commercial Vehicle Group Inc. reported a second-quarter net loss and a decline in revenue as end markets contracted in a difficult quarter marked by the coronavirus pandemic. Read more...
11 Aug Hyundai, Aptiv Dub Autonomous Venture ‘Motional,’ Increase Hiring Hyundai Motor Group and Aptiv Plc are giving their $4 billion autonomous-driving joint venture a new name and going on a hiring spree to stay competitive in the race to develop self-driving cars. Read more...