How GM's Cruise tried — and failed — to contain self-driving safety crisis
Intentional or not, delays in sharing information on robotaxi crash played outsized role in how the company’s problems unfolded, report finds.
Inflation slowed further in December as an economic ‘soft landing’ moves into sharper focus
By CHRISTOPHER RUGABER (AP Economics Writer)
WASHINGTON (AP) — The Federal Reserve’s preferred inflation gauge cooled further last month even as the economy kept growing briskly, a trend sure to be welcomed at the White House as President Joe Biden seeks re-election in a race that could pivot on his economic stewardship.
Friday’s government report showed that prices rose just 0.2% from November to December, a pace consistent with pre-pandemic levels and barely above the Fed’s 2% annual target. Measured from a year earlier, prices increased 2.6%.
Excluding volatile food and energy costs, so-called “core” prices rose just 0.2% from month to month and 2.9% from a year earlier — the smallest such rise since March 2021. Economists consider core prices a better gauge of the likely path of inflation.
The latest data suggests that the economy is achieving an elusive“ soft landing,” in which inflation falls back to the Fed’s target without a recession. That outcome could make it easier for the Fed to consider cutting its key interest rate, which it raised 11 times since March 2022 to attack inflation. Higher interest rates have throttled home sales by raising the cost of borrowing. Businesses have also chafed under the higher borrowing costs.
Tesla to recall 200,000 vehicles in U.S. to fix rearview glitch
The rearview malfunction, caused by software instability, might decrease the driver’s visibility and increase the risk of a crash, NHTSA said.
Vehicle theft on the rise at dealerships. Here’s how retailers are protecting inventory
The increase in technology that’s readily available to criminals, providing them alternative ways to steal cars, is a driving factor behind the uptick in vehicle theft at dealership lots, experts say.
Fisker to recruit retailers at NADA as first Ocean EVs head to dealerships Feb. 5
CEO Henrik Fisker says more than 65 U.S. dealers are talking with the EV maker. The first group to sign has ordered thousands of the Ocean crossovers, which will hit dealer lots in early February.