TrueCar, amid restructuring and new CEO, says Q2 net losses surpass $20 million
The vehicle listings company said its second-quarter net loss included a $7.1 million charge for restructuring......»»
American Axle Q1 revenue, profit climb
American Axle & Manufacturing increased revenue and profit in the first quarter thanks to steadier production from its customers. Net income swung to a $20.5 million gain from a $5.1 million deficit in the same period last year......»»
Zeekr aims to raise up to $368 million in U.S. IPO
Zeekr founder and Chairman Shufu Li, according to a U.S. filing, will control almost 75 percent of the shareholder voting power in the company after the IPO......»»
TruCar details car-buying platform pilot; Q1 numbers improve
TrueCar CEO Jantoon Reigersman said its pilot of an enhanced TrueCar+ platform will enable a digital car buying transaction from start to finish......»»
Luminar lays off 20% of staff amid restructuring
Approximately 140 employees at lidar technology company Luminar were laid off Friday as the company pivots to an 'asset light' model that includes outsourcing industrialization......»»
Luminar lays off 20 percent of staff amid restructuring
Approximately 140 employees at lidar technology company Luminar were laid off Friday as the company pivots to an "asset light" model that includes outsourcing industrialization......»»
Contemporary wildfires not more severe than historically in western US dry forests: Study
Wildfires have increased over the last few decades in dry forests, which cover 25.5 million ha (63 million acres) of the western U.S. But are high-severity fires that kill 70% or more of trees already burning at rates that exceed historical (preindus.....»»
Magna expects $400 million revenue loss from Fisker production halt
Magna builds the Ocean EV for Fisker. Magna said it is monitoring the situation and "will evaluate opportunities to further mitigate impact on our business.”.....»»
5 key takeaways from April U.S. sales reports
U.S. light-vehicle sales slipped 3.9 percent to 1.32 million last month compared with April 2023; Toyota led among the brands......»»
Carvana set to dig back into used-car market after latest quarter, analysts say
Analysts bullish on Carvana said its Q1 results are a sign it has recovered from a two-year period of losses and cash burn that forced new focus on profitability......»»
Ransom recovery costs reach $2.73 million
Average ransom payment has increased 500% in the last year, according to Sophos. Organizations that paid the ransom reported an average payment of $2 million, up from $400,000 in 2023. However, ransoms are just one part of the cost. Excluding ransoms.....»»
Research explores energy and land-use practices on US golf courses
In 2018, golf was estimated to contribute significantly to the US economy, generating $84 billion, supporting 2 million jobs, and providing $59 billion in compensation. Given its prominence, golf holds a valuable position within US culture. However,.....»»
International team cracks genomic code for earliest forms of terrestrial plant life
Plant life first emerged on land about 550 million years ago, and an international research team co-led by University of Nebraska–Lincoln computational biologist Yanbin Yin has cracked the genomic code of its humble beginnings, which made possible.....»»
Weak magnetic field may have supported diversification of life on Earth
An unusual reduction in the strength of Earth's magnetic field between 591 and 565 million years ago coincided with a significant increase in the oxygen levels in the atmosphere and oceans, according to a paper published in Communications Earth & Env.....»»
Q&A: Jobs for young Africans—new data tool reveals trends and red flags
An estimated 23.6 million young Africans (aged 15–35) are unemployed—that's one in 22 (4.5%). With this number projected to grow to 27 million by 2030, the need for jobs is critical. But the key to good policies for job creation is good data......»»
Researchers find that calcium can protect potato plants from bacterial wilt
Scientists have discovered that calcium plays a significant role in enhancing the resistance of potato plants to bacterial wilt. This disease causes worldwide losses of potatoes costing $19 billion per year. The findings open up new avenues for integ.....»»
Lear"s Q1 net income falls as auto supplier goes full bore into automation
Lear Corp. reached a revenue record in the first quarter but saw net income drop 24% as it navigates operational and restructuring challenges related to lower volumes......»»
Island raises $175 million at $3 billion valuation
Island announced its $175 million Series D financing. The new funding round brings Island’s valuation to $3 billion, doubling the last valuation from less than a year ago. The round was led by new investor Coatue and existing investor Sequoia Capit.....»»
Lithia: Driveway Finance has $2M loss in Q1, still on track for profitability in 2024
Lithia Q1 2024 earnings: Car dealer Lithia Motors Inc.'s developing captive finance company Driveway Finance Corp. lost $2 million during the first quarter, compared with a $21 million loss a year earlier......»»
Penske Automotive Q1 net income falls 28%
Penske Automotive Group Inc.'s first-quarter retail automotive service and parts revenue grew 9 percent to a quarterly record of $746 million......»»
Triangulation fraud: The costly scam hitting online retailers
In this Help Net Security interview, Mike Lemberger, Visa’s SVP, Chief Risk Officer, North America, discusses the severe financial losses resulting from triangulation fraud, estimating monthly losses to range from $660 million to $1 billion among m.....»»