Recent News

Battery trade dispute could test Biden’s green policy plans

Automakers are investing billions of dollars to bring new EVs to the U.S. and other global markets. Their success hinges on securing the most critical — and expensive — component: the battery. ... Read More »

Penske Automotive doubles down on used-vehicle supercenters as Q4 net income surges

Penske Automotive Group hopes to have 40 used-vehicle supercenter locations by the end of 2023, up from 17 today, as it looks to as much as triple the unit's annual revenues. ... Read More »

Four Defendants Settle with the FTC for Their Alleged Role in Credit Card Laundering Scheme

The Federal Trade Commission reached settlements with four defendants charged with helping to launder millions of dollars in credit card charges through fraudulent merchant accounts. The settlement orders permanently ban Jay Wigdore, Electronic Payment Solutions...

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FTC Sends More than $1.7 Million in Refunds to People who Lost Money to Student Loan Debt Relief Scam

The Federal Trade Commission is sending more than $1.7 million to people who lost money to a debt relief scheme that targeted individuals trying to pay down their student loan debt. The FTC alleged that the operators behind Student Debt Relief Group tricked people...

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New FTC Data Show Massive Increase in Romance Scams, $304M in Losses

Data spotlight shows reported losses up 50 percent from 2019 More consumers than ever report falling prey to romance scammers, according to new Federal Trade Commission data that show consumers reported losing a record $304 million to the scams last year.A newly...

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Rivian aims for IPO this year, report says

The electric vehicle maker is looking to go public as soon as September at a valuation of about $50 billion, Bloomberg reported. ... Read More »

Lyft says cost cuts, coming ride recovery could bring Q3 adjusted profit

The ride-hailing giant expects COVID-19 vaccine distribution to scale up in the second quarter and said its cost cuts were ahead of target. ... Read More »

Hyundai’s four-legged sci-fi machine underscores robotics move

The TIGER builds on the Elevate concept shown at the 2019 CES. The Elevate is a four-legged "walking car" that has room for riders in its boxlike cabin. ... Read More »

Hyundai’s four-legged sci-fi machine underscores robotics move

The TIGER builds on the Elevate concept shown at the 2019 CES. The Elevate is a four-legged "walking car" that has room for riders in its boxlike cabin. ... Read More »

Apple more than doubled AV road tests in 2020

Data on self-driving technology filed with the state of California also showed GM's Cruise unit more than doubled how far its cars can go before a safety driver needs to take over. ... Read More »

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