Tag: Transport

  • People complain a lot more about air travel than usual

    Air travel complaints have nearly quadrupled from pre-pandemic levels as waves of cancellations, delays and lost luggage disrupted the travel plans of millions of fliers. Travelers filed 60,732 complaints between January 2022 and November, according to a new report from the US PIRG Education Fund, a public interest research group that has examined data from […]

  • Lucid is cutting 1,300 employees amid signs of declining demand for its electric cars

    Lucid said in a regulatory filing that it is cutting about 18% of its workforce, or about 1,300 employees. In a letter to employees, CEO Peter Rawlinson said the job cuts “will affect almost every organization and every level, including executives.” The company expects to incur $24 million to $30 million in costs associated with […]

  • Virgin Orbit extends unpaid break as deal collapses, talks continue

    NEWQUAY, ENGLAND – JANUARY 09: A general view of Cosmic Girl, a Boeing 747-400 aircraft with the LauncherOne missile under its left wing, as final preparations are made at Cornwall Airport Newquay on January 9, 2023 in Newquay, UK. Virgin Orbit launches its LauncherOne rocket from the spaceport in Cornwall, marking the first-ever orbital launch […]

  • Lyft hires new CEO as founders step back amid competitive battle

    Lyft Inc., LYFT -2.74% struggles with competition and a battered stock price, taps a board member as CEO, and the two co-founders will step down from managing the company, the ride-sharing company said Monday. David Risher, who held management positions at Amazon.com Inc. and Microsoft Corp. before starting a non-profit children’s reading organization in 2009, […]

  • Why the stock market is looking past the worst banking mess since 2008 — for now

    Judging by major indices, it will take more than the Federal Reserve to raise interest rates amid the worst banking mess since the 2008 financial crisis before stock market investors lose their cool. “Investors are broadly assuming that regulators will step in and shield the industry if they need to, which is what prevents it […]

  • We will find a way to save the car engine – POLITICO

    Press play to listen to this article Voiced by artificial intelligence. As for the future of the internal combustion engine, Germany has again got its way. The European Commission and Germany’s transport ministry announced a deal on Saturday morning that would oblige the EU executive to find a legal way to allow the sale of […]

  • Spire, Momentus face delisting warnings

    Spire and Momentus received delisting warnings on Friday, according to the securities filings, as share prices of both companies traded below $1 per share. The companies have 180 days, or about six months, to get their share price back above $1 per share. Both companies noted the possibility of conducting a reverse stock split to […]

  • Luminar’s CFO defends the lidar maker’s pricing and earnings

    A Mercedes-Benz van retrofitted with different types of lidar systems, including Luminar’s Iris, to show the differences in the technologies. Michael Wayland/CNBC Lidar maker Luminar Technologies, stung by a recent Wall Street downgrade, is responding in an unusual way: going straight to shareholders. In a letter seen by CNBC Friday morning, Luminar CFO Tom Fennimore […]

  • Shares of Deutsche Bank are slumping on the latest sign of banking concerns

    Last updated: March 24, 2023 at 5:39 am ET First published: March 24, 2023 at 5:10 a.m. ET Shares of Deutsche Bank slumped on Friday, throwing the spotlight on the health of another globally systemically important bank heading into the weekend. Shares of German lender XE:DBK fell 8% in Frankfurt trading and the Euro Stoxx […]

  • Ford’s plan for EV profitability in 2026

    Ford forecast a drastic turnaround for its electric vehicle unit on Thursday, reiterating that it expects its EV business to be solidly profitable by the end of 2026. Here’s a step-by-step look at how Ford expects the Model e to achieve a positive EBIT profit margin of 8% in less than four years. Wall Street […]