Business

Rivian Automotive Inc., the maker of electric pickups backed by Amazon .com Inc., has filed for an initial public offering and is seeking a roughly $80 billion valuation, according to people familiar with the matter.

Toyota will begin assembling integrated dual fuel cell modules in the United States starting in 2023. They are intended for use in hydrogen-powered, heavy-duty commercial trucks.

WASHINGTON — The Federal Reserve will start dialing back its ultra-low-rate policies this year as long as hiring continues to improve, Chair Jerome Powell said Aug. 27, signaling the beginning of the end of the Fed’s extraordinary response to the pandemic recession.

Illinois Gov. Jay “J.B.” Pritzker has signed a law intended to improve transportation infrastructure while maximizing the effectiveness of taxpayer dollars.

OPEC and its allies are expected to press on with their planned revival of oil production when they meet next week, as prices bounce back from their August stumble.

BISMARCK, N.D. — The North Dakota Department of Transportation is developing the State Freight & Rail Plan and has launched the project website.

WASHINGTON — Growth in U.S. consumer spending slowed in July to a modest increase of 0.3% while inflation over the past 12 months rose to the fastest pace in three decades.

New York City lawmakers passed a measure that will make temporary caps on third-party delivery fees permanent in a blow to companies like DoorDash Inc., Grubhub and Uber Technologies Inc.

Nuro Inc., which has unmanned delivery pods scurrying around Southwestern streets, said that it will build a $40 million facility to assemble and test a new generation of autonomous vehicles in Nevada.

New Jersey’s gasoline tax will drop 8.3 cents to 42.4 cents a gallon on Oct. 1 after drivers were forced to pay more at the pump a year ago, state officials announced Aug. 24.