Dealer-backed VC fund raises $13 million, lower than target
Automotive Ventures had hoped to raise as much as $50 million for its DealerFund, but economic trends left investors more cautious......»»
Tech supplier Aptiv lowers sales forecast, reduces equity interest in JV with Hyundai
Under the agreement with Hyundai Motor Co., Aptiv will not be required to fund the joint venture in the future, while Hyundai will provide additional funding......»»
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.....»»
Repair shop owner aims to start social impact movement in auto industry
In 2020, Dan Adam created a nonprofit group called Stranded Motorist Fund, which helps customers who can't afford expensive vehicle repairs......»»
Tesla retreats from next-generation ‘gigacasting’ manufacturing process
Tesla has backed away from an ambitious plan for innovations in gigacasting, its pioneering manufacturing process, according to two sources familiar with the matter, in another sign that the electric-vehicle maker is retrenching amid falling sales an.....»»
Fed holds rates steady, flags "lack of further progress" on inflation
The Federal Reserve said it "does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably towards 2%.".....»»
Amazon-funded Anthropic launches AI app to compete with ChatGPT
An Amazon-backed firm that's pushing for safe and trustworthy artificial intelligence apps has released its Claude AI app for the iPhone and iPad — but not the Mac.Anthropic's Claude generative AI app on iPhoneApple could yet be the only generative.....»»
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......»»
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......»»
Inexpensive spring truffles or exquisite Piedmont truffles? New analytical method can detect food fraud
Some truffles are particularly expensive and therefore often the target of food fraud. For example, high-priced Piedmont truffles (Tuber magnatum) are often difficult to distinguish from the cheaper spring truffles (T. borchii) on the basis of their.....»»
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......»»
Why the automotive sector is a target for email-based cyber attacks
While every organization across every vertical is at risk of advanced email attacks, certain industries periodically become the go-to target for threat actors. In this Help Net Security video, Mick Leach, Field CISO at Abnormal Security, discusses wh.....»»
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.....»»
FCC fines big three carriers $196M for selling users’ real-time location data
FCC finalizes $196M penalties for location-data sales revealed in 2018. Enlarge (credit: Getty Images | SOPA Images ) The Federal Communications Commission today said it fined T-Mobile, AT&T, and Verizon $196 million "fo.....»»
Cats suffer H5N1 brain infections, blindness, death after drinking raw milk
Mammal-to-mammal transmission raises new concerns about the virus's ability to spread. Enlarge / Farm cats drinking from a trough of milk from cows that were just milked. (credit: Getty | ) On March 16, cows on a Texas d.....»»
Legislators too ‘trigger happy" on banning alternative fuels, Volvo Trucks says
As legislators and regulators across the globe pursue fully emissions-free transportation, Volvo Truck's complaint raises questions about whether alternative fuels have a role to play in a green future......»»
Asbury Automotive says 10 dealerships are up for sale
Asbury Automotive Group said it entered Q2 with $243 million in assets for sale — including 10 dealerships — after selling a Jim Koons Lexus site in Delaware to MileOne Autogroup in March......»»
Hubble spots magnificent barred galaxy NGC 2217
The magnificent central bar of NGC 2217 (also known as AM 0619-271) shines bright in the constellation of Canis Major (The Greater Dog), in this image taken by the NASA/ESA Hubble Space Telescope. Roughly 65 million light-years from Earth, this barre.....»»
Apple has backed itself into a corner
The iPad Pro is about to get an M4 chip, but that means all kinds of weirdness could affect upcoming Macs, with release schedules being thrown into disarray......»»