Goodyear Reports Second Quarter 2026 Earnings: Sales Dip, Losses Persist Despite Market Stabilization
Goodyear Tire & Rubber Company (NASDAQ: GT) delivered mixed second quarter 2026 results on August 5, 2026, reflecting improving market stability but continued financial headwinds. Net sales totaled $4.3 billion, a 4.8% year-over-year decline, with organic net sales down 1.4%…
U.S. Diesel Exports Surge to Record
The U.S. has shipped a record amount of distillate fuel overseas, with exports rising to 1.9 million barrels a day last week, according to the U.S. Energy Information Administration. This surge in exports has been driven by the global scramble…
Lucid’s CEO says ‘tough medicine’ needed to fix EV maker
Lucid Group Inc. is implementing a sweeping operational reset to slash $1.4 billion in cash burn this year, as new CEO Silvio Napoli tightens financial and operational discipline after quarterly results missed Wall Street estimates. The cost-cutting plan includes slashing…
Iran and Oman reach tentative Hormuz shipping agreement, but reopening hinges on U.S. actions
Iran announced on August 5, 2026, that it had reached a tentative agreement with Oman to establish a shipping route through the Strait of Hormuz, a critical chokepoint for global oil supplies. The deal, still in the final drafting stage…
U.S. Energy Secretary signals likely extension of Jones Act shipping waiver
U.S. Energy Secretary Chris Wright confirmed on August 4, 2026, that the Trump administration is likely to extend a temporary waiver of the Jones Act, a 1920 law requiring goods shipped between domestic ports to be transported on U.S.-flagged, -built,…
Shipowners warn U.N. and IMO: Hormuz tolls could trigger fees at other key shipping chokepoints
Eight of the world’s largest shipping associations have jointly urged the United Nations and the International Maritime Organization to block any compulsory transit fees or service charges in the Strait of Hormuz, warning that such a move would set a…
Replacement demand lifts Cummins’ 2026 heavy-duty truck forecast to 240,000–250,000 units
Cummins raised its 2026 North American heavy-duty truck demand forecast to 240,000–250,000 units, citing stronger replacement demand driven by a freight market rebound. The company’s top executive, Jennifer Rumsey, said during the Q2 2026 earnings call that underlying demand is…
Uber’s Q3 outlook matches estimates as Brazil competition weighs on trips growth
Uber Technologies Inc. delivered a third-quarter bookings outlook that met analyst expectations, but flagged fierce competition in Brazil as a key drag on trip growth, compounding investor concerns about the company’s trajectory in the robotaxi era. The San Francisco-based company…
Oil Prices Tick Up Despite Talks to Reopen Hormuz
Oil prices have increased despite ongoing talks that may lead to the reopening of the Strait of Hormuz. Brent crude rose 1.4% to $80.45 per barrel, while US benchmark crude picked up 0.7% to $76.29 per barrel. The increase in…
Turkish contemporary art takes center stage at Venice Biennale with Borusan Otomotiv as key partner
Borusan Otomotiv, BMW’s official importer in Türkiye and its largest global distributor, is a major partner of the Türkiye Pavilion at the 61st International Art Exhibition – La Biennale di Venezia, running through November 22, 2026. The pavilion, commissioned by…