Amazon to refund some customers part of $600M in tariff rebates
E-commerce giant Amazon announced it will automatically reimburse select customers for portions of a $600 million tariff refund it received during the second quarter. The disclosure came during Amazon’s earnings call, where Chief Financial Officer Brian Olsavsky revealed the company…
Rivian Narrows Loss While Rolling Out Cheaper EV Models
Rivian Automotive Inc. has reported a second-quarter adjusted EBITDA loss of $379 million, which is better than analysts' expectations of a $548 million deficit. The company's revenue was $1.66 billion, exceeding estimates of $1.52 billion. Rivian has attributed the improved…
Sena Phantom XB Helmet First Look: Bass-Tuned Audio for $599
Sena has introduced the Phantom XB, a bass-tuned version of its Phantom smart helmet, with an MSRP of $599. The main difference between the XB and the standard model is the Extreme Bass audio package, which includes 2nd-generation HD speakers…
Oil Prices Tick Up as Strait of Hormuz Remains Closed
Oil prices have resumed climbing due to ongoing tensions between the US and Iran, which have kept the Strait of Hormuz, a key waterway for oil transport, largely closed. As a result, Brent crude has risen 0.8% to $87.50 a…
BMW to cut 8,000 jobs globally by 2027, mostly in German offices
BMW has announced plans to eliminate approximately 8,000 positions worldwide by the end of 2027, representing about 5% of its roughly 154,000-strong global workforce. The cuts are primarily targeted at white-collar roles in Germany, with production staff explicitly excluded. Instead…
Amazon Profit Surges as AWS Sales Rise 37%
Amazon reported a significant surge in profit, with fiscal second-quarter net income reaching $62.65 billion, driven by a 37% increase in AWS sales, the fastest growth in 18 quarters. Net sales rose 20% to $200.6 billion, exceeding analyst expectations of…
XPO Logistics reports rising manufacturer demand amid freight market upcycle
XPO Logistics has reported a surge in demand from U.S. manufacturers for the first time in three years, driving a significant improvement in its second-quarter 2026 financial performance. The less-than-truckload (LTL) specialist posted a 52.8% increase in profit to $162…
Nearly One in Four Car Buyers Extend Loan Terms by Two Years or More to Afford Payments
A new CDK Global study reveals that nearly one in four financed car buyers in the U.S. are extending their loan terms by at least two years to make monthly payments more manageable. The survey, conducted among over 1,000 car…
Three federal cases expose identity fraud linked to commercial driver’s licenses
Federal prosecutors have unraveled three separate identity-fraud schemes in which Mexican, Nigerian and Peruvian nationals allegedly stole U.S. citizens’ identities to obtain commercial driver’s licenses (CDLs) and secure jobs in the trucking industry. The cases span Kentucky, South Dakota and…
U.S.-China Call Lays Groundwork for Upcoming Trump-Xi Meeting
Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng held a trade call on July 30 to discuss numerous flashpoints between the two countries ahead of Chinese President Xi Jinping's planned U.S. visit on September 24. The talks covered…