Transportation
Why the Fed’s rate cut won’t immediately help car buyers or sales
Alex Tovstanovsky, owner of used-car dealer Prestige Motor Works, checks on inventory with his general manager Ryan Caton in Naperville, Illinois, May 28, 2020. Nick Carey | Reuters DETROIT — The Federal Reserve’s decision to cut interest rates for the first time in more than four years is expected to eventually boost new vehicle sales, […]
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Ford aims to boost EV sales, address owner concerns with new benefits program
The Mustang Mach-E on display at the New York International Auto Show on March 28, 2024. Danielle DeVries | CNBC DETROIT — Ford Motor is aiming to boost sales of its electric vehicles by addressing potential customer concerns through a new program that includes free home-charging installation and other benefits. The “Ford Power Promise” program […]
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U.S. East Coast port strike set to start Tuesday, union says
Cranes stand over shipping containers at Port Newark on March 26, 2024. Spencer Platt | Getty Images A port strike on the U.S. East Coast and Gulf of Mexico will go ahead starting on Tuesday, the International Longshoremen’s Association union said on Sunday, signaling action that could cause delays and snarl supply chains. “United States […]
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Biden says he won’t intervene if port workers go on strike
U.S. President Joe Biden gestures as he arrives to Dover Air Force Base in Dover, Delaware, U.S., September 27, 2024. Elizabeth Frantz | Reuters U.S. President Joe Biden said on Sunday he did not intend to intervene to prevent a port strike on the East Coast and Gulf of Mexico if dock workers failed to […]
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Volkswagen cuts 2024 outlook as car demand falters
A VW Golf GTI stands in a parking lot within sight of the brand tower on the grounds of the VW plant in Wolfsburg, Germany. Julian Stratenschulte| Picture Alliance | Getty Images Volkswagen cut its annual outlook for the second time in less than three months on Friday, citing a weaker-than-expected performance at its passenger car division as […]
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U.S. new vehicle sales expected to have struggled during third quarter
New Jeep vehicles sit on a Dodge Chrysler-Jeep Ram dealership’s lot on October 03, 2023 in Miami, Florida. Joe Raedle | Getty Images News | Getty Images DETROIT — U.S. sales of new vehicles are expected to have struggled during the third quarter amid economic and political uncertainties, as well as elevated interest rates and […]
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Southwest Airlines raises summer revenue forecast, authorizes $2.5 billion in share buybacks
A Southwest Boeing 737 is at Phoenix Sky Harbor International Airport in Arizona, USA, on July 2, 2024. Robert Smith | Nurphoto | Getty Images Southwest Airlines raised its third-quarter revenue forecast on Thursday, announced its board authorized a $2.5 billion in share buybacks, and detailed a host of changes to its business model as […]
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Southwest Airlines to cut service and staffing in Atlanta to slash costs
A Southwest Airlines plane takes off from Hollywood Burbank Airport on July 25, 2024 in Burbank, California. Mario Tama | Getty Images Southwest Airlines is planning to reduce service to and from Atlanta next year, cutting more than 300 pilot and flight attendant positions, according to a company memo seen by CNBC. The changes come […]
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U.S. Senate committee faults Boeing safety practices, FAA oversight
Boeing CEO Dave Calhoun testifies before a subcommittee of the Senate Energy and National Resources Committee on the company’s safety culture, following a number of recent incidents on Boeing airplanes, Washington, DC, June 18, 2024. Allison Bailey | Afp | Getty Images A U.S. Senate panel investigating Boeing‘s safety culture on Wednesday faulted the planemaker’s […]
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Boeing sweetens labor proposal in ‘best and final’ offer as strike enters second week
Striking Boeing workers hold rally at the Boeing Portland Facility on September 19, 2024, in Portland, Oregon. Jordan Gale | AFP | Getty Images Boeing on Monday sweetened a contract offer and said it was its “best and final” proposal for its more than 30,000 machinists as their strike entered a second week. The new […]
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