Ritchie Bros to buy auto retailer IAA in $6.2B deal
Canada’s Ritchie Bros. Auctioneers Inc. agreed to buy US auto retailer IAA Inc. in a cash and stock transaction worth...
Wells Fargo faces US demand for record fine exceeding $1B
Wells Fargo & Co. is under pressure from the Consumer Financial Protection Bureau to pay more than $1 billion to...
Car loan rates head for 14-year high in new barrier for buyers
Just as automakers start making headway sorting out the parts shortages that have constrained production and left dealers with a scarce supply of vehicles...
Fed hikes again by 75 basis points, hints at entering end phase
Federal Reserve officials delivered their fourth straight 75 basis-point interest rate increase while also signaling their aggressive campaign to curb...
Peristent chip shortage forces Toyota to revise output target
Toyota Motor Corp. lowered its production target while sticking to a conservative profit outlook because of a persistent shortage of...
US economy rebounds as consumers, businesses show resilience
The US economy rebounded following two quarterly contractions thanks in part to resilient consumers and businesses, though inflation and higher...
GM’s EVs to qualify for full US tax credit within three years, Barra says
General Motors Co. will be able to meet all requirements in three years for buyers of its electric vehicles to...
Driverless car development sets ablaze a bonfire of billions
Autonomous vehicle companies and suppliers have collectively spent around $75 billion developing self-driving technology, with scant sign of meaningful revenue emerging from robo-car...
