WASHINGTON — It will soon become harder to get a full $7,500 tax credit for a new electric vehicle under proposed rules released Friday by the U.S. Treasury Department — and interested buyers should move fast.

New battery component and mineral requirements will go into effect on April 18, the day after the new rules are officially published...Read more

Richard Branson's Virgin Orbit is laying off about 675 employees, or 85% of its workforce, as the air-launched rocket company failed to find funding to sustain its operations.

The Long Beach company plans to spend $8.8 million in severance payments and employee benefit costs, and an additional $6.5 million on outplacement services and other ...Read more

Elon Musk is in tweeting purgatory again.

A federal appeals court ruled Friday that the billionaire must delete his 2018 Twitter post suggesting that Tesla Inc. workers could lose stock options if they formed a union, as it violated labor law.

The decision is a victory for the National Labor Relations Board and a blow to Tesla, which has ...Read more

General Motors Co. on Friday said it's moving away from using the phone projection systems of Apple CarPlay and Android Auto.

Instead, the Detroit automaker plans to use infotainment systems developed with Google on future electric vehicles. The system will be integrated with applications such as Google Maps, Google Assistant, Audible, Spotify ...Read more

Late in 2018, two Trump-appointed banking regulators, Federal Reserve Vice Chair Randal Quarles and FDIC Chair Jelena McWilliams, went on a nationwide tour to meet with regional bank examiners.

If you're looking for the roots of the banking crisis that took down Silicon Valley Bank and has rattled the entire financial sector for weeks, that's ...Read more

Thirty days ago, few Americans knew what Silicon Valley Bank was or worried about their own bank accounts. Thirty days ago, the Federal Reserve had one fight on its hands: inflation. Thirty days ago, investors were buoyed by decent economic data — but not too strong — supporting confidence the economy was withstanding higher borrowing costs....Read more

Ford Motor Co. is partnering with mining companies from Indonesia and China to invest in a nickel-processing project as part of the Dearborn, Michigan, automaker's bid to shore up supplies of key raw materials for electric-vehicle batteries.

PT Vale Indonesia Tbk, a nickel producer in Indonesia, and China's Zhejiang Huayou Cobalt Co. on ...Read more

Some came seeking glory. Others, a velvet couch or a La Marzocco espresso maker.

But most shoppers who flocked to the viral estate sale at the Wing in West Hollywood over the weekend were there simply to bear witness, as a brand built on the aspirations of Instagram was dismembered by the vultures of TikTok.

"I used to take meetings here," ...Read more

Starting this week, Apple is rolling out its version of "buy now, pay later."

Using a short-term loan to finance a small or medium purchase — Apple says Pay Later loans will be available in amounts from $50 to $1,000 — is "sold like a no-brainer" to consumers, personal finance expert Carmen Perez said. "I've heard people say it seems like ...Read more

You've probably heard by now: AI is coming, it's about to change everything, and humanity is not ready.

Artificial intelligence is passing bar exams, plagiarizing term papers, creating deepfakes that are real enough to fool the masses, and the robot apocalypse is nigh. The government isn't prepared. Neither are you.

Tesla founder Elon Musk, ...Read more

Key protocols used on film and TV sets to limit the spread of COVID-19 are set to end in May, the Alliance of Motion Picture and Television Producers (AMPTP) said in a statement Thursday.

The dropping of restrictions for Hollywood productions will coincide with the end of the federal COVID-19 Public Health Emergency declaration on May 11.

The ...Read more

It was the car that dominated NASCAR so completely in its early years that Paul Newman voiced it in the Pixar animated movie “Cars.” It’s the Hudson Hornet, a name inherited by American Motors Corporation (AMC), which used the nameplate on a compact car in 1969. Stellantis now owns the name, having acquired AMC in 1987, and is reviving the...Read more

Price, price and price!

In Grasso’s Garage this week, Nissan is back with its ever-popular Altima. Our tester, the 2023 Altima SR 2.0 VC Turbo offered front wheel drive capabilities and an array of interior features fit for every driver.

The new Altima arrives at an opportune time. Consumers have written to me over the past few months ...Read more

Tesla Inc. shares are set to mark their best-ever start to a year, buoyed by price cuts across the electric-vehicle maker’s lineup in a bid to boost sales. Investors will soon discover if all the enthusiasm was justified.

The Elon Musk-led carmaker is expected to announce quarterly delivery and production figures in early April, providing an ...Read more

SAN FRANCISCO — Once upon time, Detroit automakers debuted crazy concept vehicles for auto shows like the six-wheeled Chrysler Voyager III and the V10-powered Tomahawk motorcycle and the 16-cylinder Cadillac Sixteen coupe.

Now, crazy gets put into production.

Behold the all-electric, 8,800-pound 2023 GMC Hummer SUV circus act in my hands. ...Read more

Virgin Orbit Holdings Inc., the satellite-launch company tied to British billionaire Richard Branson, is ceasing operations indefinitely, succumbing to growing cash-crunch pressures that have paralyzed startups in many emerging technologies.

The company said in a filing Thursday that it was cutting 675 jobs, or about 85% of its workforce, ...Read more