Volkswagen CEO Oliver Blume. (Kriztian Bocci/Bloomberg) June 26, 2026 11:00 am, EDT key takeaways: Volkswagen CEO Oliver Blume has reportedly proposed doubling job cuts to 100,000 and closing four German factories. The cuts aim to reduce overhead by 11 billion euros by 2030 amid tariffs, China weakness and increasing competition. Blume plans to present the
David Gall, Samsara’s vice president of connected equipment, introduces the Samsara tracking label on stage at Beyond 2026 in Las Vegas. (Seth Clevenger/Transportation Topics) June 26, 2026 11:04 am, EDT key takeaways: Samsara’s new tracking label uses Bluetooth networks to deliver continuous shipment location updates via connected devices to roads and facilities. Disposable labels provide
US oil exports hit record levels in April as the Iran war severely disrupted Middle East trade. (Mark Felix/Bloomberg) June 26, 2026 9:41 am, EDT key takeaways: The U.S. merchandise trade deficit widened 27.4% to $105.8 billion in May, the largest decline in more than a year. Exports fell 5.4% while imports rose 3.6%, with
Customers wait for their orders in the food court at a wholesale store in Mount Prospect, Illinois on June 8. (Nam Y Huh/AP) June 25, 2026 9:06 am, EDT key takeaways: The US economy grew at a 2.1% annual rate in the first quarter, an upward revision from 1.6% on June 25 and a rebound
(Kaylee Greenlee/Bloomberg) June 25, 2026 8:44 am, EDT | Update: June 25, 2026 10:10 am, EDT key takeaways: US stocks rose on June 25, led by AI-powered chipmakers, with Micron rising 19.4% and Qualcomm gaining after strong results and forecasts. The rally reflects easing concerns about high valuations as strong earnings and falling oil prices
A Tesla CyberCab prototype in front of Nasdaq MarketSite in New York. (Michael Nagel/Bloomberg) June 25, 2026 10:59 am, EDT key takeaways: The U.S. Department of Transportation proposed removing brake pedal requirements for driverless vehicles entirely through an update to federal safety standards on June 25. This change could accelerate the deployment of purpose-built robotaxis
Commercial trucks wait to pass error inspection before the final step of the assembly process at Ford’s Ohio Assembly Plant in Sheffield Lake, Ohio. (Dustin Franz/Bloomberg) June 25, 2026 11:43 am, EDT key takeaways: Ford hired 350 experienced “gray beard” engineers over three years to fix quality problems, helping it rank as a top mainstream
(Kriztian Bocci/Bloomberg News) June 25, 2026 2:18 pm, EDT key takeaways: Bain Capital agreed to buy a 51% stake in Volkswagen’s heavy diesel-engine unit Everlens for about $8.4 billion, with Volkswagen retaining a 49% stake. Analysts said the deal strengthens Volkswagen’s finance and restructuring efforts as it exits a non-core asset amid higher costs, weak
A driver fills a vehicle with gasoline in Florida. (Jack Bennett/Bloomberg) June 25, 2026 3:30 PM, EDT key takeaways: Trump said he ordered the Justice Department to investigate gasoline prices, accusing major oil companies of not lowering pump prices quickly enough. National gasoline prices on June 24 were $3.93, above the five-year seasonal average as
John Groendyke became president and CEO of the Oklahoma-based company following the death of his father, Harold, who founded the carrier in 1932. (Groendyke Transport) June 25, 2026 3:47 pm, EDT key takeaways: John Groendyke, former chairman and CEO of Groendyke Transportation and former chairman of NTTC, died on June 13 at the age of