Claire Donovan 
Proficient Auto Logistics, a Jacksonville, Fla.-based auto hauler, will acquire Hansen & Adkins for $130 million in a deal expected to close in mid-August. The acquisition will more than double Proficient’s company-owned fleet capacity and expand its operations into Canada.…
President Donald Trump declared on August 11 that the U.S. has “total control” over the Strait of Hormuz, a critical waterway through which roughly one-fifth of global oil and liquefied natural gas (LNG) flows. Speaking at Joint Base Andrews outside…
Oil prices edged higher on August 12, 2026, as the Strait of Hormuz—a critical chokepoint for global oil shipments—remained effectively shut down amid ongoing fighting in Iran. Brent crude, the international benchmark, rose 0.19% to $89.08 per barrel, while U.S.…
Cooper Standard, an automotive supplier, has reported higher second-quarter sales but lower earnings due to higher raw material costs, inflation, and tariffs. For the three months ended June 30, sales increased 2.2% year-on-year to $721 million, while adjusted earnings (EBITDA)…
All six living American 500cc Grand Prix world champions will take exhibition laps at WeatherTech Raceway Laguna Seca on August 14 and 15, marking the first time the group has shared the same racetrack in nearly 20 years. Kenny Roberts,…
Global oil prices climbed for a second straight day on Tuesday, extending Monday’s 5% surge as geopolitical tensions over the Strait of Hormuz kept markets on edge. Brent crude oil, the international benchmark, rose 2.4% to $89.80 per barrel, while…
Sumitomo Rubber Industries (SRI) has posted a 40.6% year-on-year surge in second-quarter business profit to Yen39.8 billion, defying what it describes as a sluggish global market. The group’s sales rose 8.3% to Yen620 billion for the quarter ended 30 June,…
Orion Engineered Carbons has posted a 61% year-on-year plunge in adjusted earnings (EBITDA) for its rubber carbon black division during Q2 2026, despite a 3% increase in net sales to $316 million (€274 million). The company reported adjusted earnings of…
Iran has declared that a shipping agreement with Oman to reopen the Strait of Hormuz is “very close,” but stressed that direct negotiations with the U.S. are not on the table for now. The announcement came as Tehran appointed hard-line…
The BMW Group and its consortium partners have proven through the Car2Car research project that high-quality material loops are technically viable in the automotive industry. By expanding processing and sorting conditions, the project increased the “Car2Car rate”—the percentage of materials…