Schlumberger Shrinks Staff to Lowest Since Pre-Shale Era
Schlumberger Ltd. posted its weakest sales in 14 years and is cutting one-fifth of its workforce while warning that new waves of COVID-19 could derail the nascent recovery in global energy demand.
July 24, 2020Daimler Posts Q2 Net Loss, Lower Revenue as Pandemic Slashes Demand
The Daimler Group reported a net loss and lower revenue in the second quarter as demand for its trucks, vans, buses and cars fell amid the global novel coronavirus pandemic.
July 23, 2020Nikola Breaks Ground on Arizona Plant
Nikola Corp. broke ground July 23 on a new electric-truck factory in Coolidge, Ariz., that it hopes to open next year, but first the startup needs to figure out a way to pay for the 1 million square-foot facility and other expenses with little cash on hand.
July 23, 2020Fiat Chrysler, Iveco Offices Searched in Emissions Probe
FRANKFURT, Germany — Investigators searched offices of automaker Fiat Chrysler and truck maker Iveco in Germany, Switzerland and Italy on July 22 as part of an investigation into suspected illegal manipulation of diesel emissions.
July 22, 2020Baker Hughes Bracing for Second Wave of COVID-19 Lockdowns
Baker Hughes Co. is bracing for a second wave of pandemic-induced lockdowns after the virus crippled economic activity around the world and compounded a historic oil bust.
July 22, 2020VW’s EV Expansion in Tennessee Is ‘On Plan’
Walls are up enclosing Volkswagen’s new $800 million electric vehicle production site in Chattanooga, Tenn., as factory equipment is shipped in for installation, an official says.
July 22, 2020Tesla Slashes Deposit for China Customers to Just $143
Tesla Inc. lowered the deposit that buyers in China have to put down on its cars, seeking to keep sales momentum in the face of intensifying competition and reductions in the government’s electric-vehicle subsidies.
July 22, 2020EU Approves Biggest Green Stimulus in History
European governments approved the most ambitious climate change plan to date, agreeing to pour more than €500 billion euros ($559.5 billion) into everything from electric cars to renewable energy and agriculture.
July 21, 2020Pilot Company Names Jimmy Haslam Chairman, Shameek Konar CEO Effective Jan. 1
Pilot Company announced that CEO Jimmy Haslam will be succeeded in the role by current Chief Strategy Officer Shameek Konar on Jan. 1, 2021, at which point Haslam will become chairman of the board and company founder James Haslam will be named chairman emeritus.
July 21, 2020Ford, VW Electric Models May Be Delayed by Trade-Secret Fight
Ford Motor Co. and Volkswagen AG warned a swirling legal dispute between two South Korean battery suppliers could threaten their plans to start producing electric vehicles in the U.S.
July 21, 2020