Distribution Solutions Group, Inc. (NASDAQ: DSGR) announced the closing on its previously announced agreement to acquire Source Atlantic Limited which was funded by the Company’s senior secured credit facility. Additionally, on August 14 the Company entered into an amendment to its Amended and Restated Credit Agreement, dated April 1, 2022, increasing the borrowing capacity from […]
Texas Instruments to Receive Up to $1.6 Billion in Funding for Semiconductor Manufacturing in Texas and Utah
Texas Instruments (TI) (NASDAQ: TXN) and the U.S. Department of Commerce have signed a non-binding Preliminary Memorandum of Terms for up to $1.6 billion in proposed direct funding under the CHIPS and Science Act to support three semiconductor wafer fabrication facilities already under construction in Texas and Utah. In addition, TI expects to receive an […]
US Department of Transportation Release National Plan to Deploy V2X Communication Technologies to Reduce Crashes and Traffic Fatalities
U.S. Department of Transportation (USDOT) today introduced Saving Lives with Connectivity: A Plan to Accelerate V2X Deployment. This plan will guide the implementation of vehicle-to-everything (V2X) technologies across the nation and support USDOT’s commitment to pursue a comprehensive approach to reduce the number of roadway fatalities to zero. The plan, initially released in draft form […]
U.S. Auto Insurers’ Strong Performance Recovery to Continue Through 2025
Fitch Ratings says premium increases and moderating claims severity benefiting auto insurance companies. The improving, more favorable mid-year 2024 results of U.S. personal auto insurers are likely to continue through the end of 2024 and into 2025, Fitch Ratings says. Several rounds of material price increases and a moderation of claims severity trends has vastly […]
Mitchell Reports Battery Electric Vehicle Collision Claims Continue to Rise Despite Sales Slowdown
Claims frequency for repairable battery electric vehicles has jumped 45% in the U.S. and 39% in Canada year-over-year while increasing more gradually for hybrids. Mitchell, an Enlyte company today published its Q2 2024 Plugged-In: EV Collision Insights report. This edition features the latest U.S. and Canadian claims data on battery electric vehicles (BEVs), mild hybrid […]
U.S. Employer Health Care Costs Projected To Increase 9 Percent Next Year
Projected increase is above the 6.4% increase reported this year. The average cost of employer-sponsored health care coverage in the U.S. is expected to increase 9.0%, surpassing $16,000 per employee in 2025, according to Aon (NYSE: AON), the global professional services firm. This projected increase, which assumes employers do not implement employee cost sharing increases […]
Federal Trade Commission Announces Final Rule Banning Fake Reviews and Testimonials
The rule will allow agency to strengthen enforcement, seek civil penalties against violators, and deter AI-generated fake reviews. The Federal Trade Commission announced a final rule that will combat fake reviews and testimonials by prohibiting their sale or purchase and allow the agency to seek civil penalties against knowing violators. “Fake reviews not only waste […]
Texas Attorney General Sues General Motors Over Collection and Sale of Driving Data
Lawsuit alleges vehicle manufacturer deceived consumers on data collection and profited by the sale of data to insurers and third-parties. Texas Attorney General Ken Paxton sued General Motors for its false, deceptive, and misleading business practices related to what the Attorney General alleges is unlawful collection and sale of over 1.5 million Texans’ private driving […]
Caliber’s 13th Annual Restoring You Food Drive Provided Over 5 Million Meals to Help Combat Food Insecurity and Hunger
Annual campaign raised more than $800,000 and 107,000 pounds of food for 165 food banks across the United States. Caliber, parent company of Caliber Collision and Caliber Auto Glass, today announced the results of its 13th annual Restoring You Food Drive. In total, the annual collection event raised more than five million meals and more […]
California Bureau of Automotive Repair Launches Salvage Vehicle Inspection Program
Inspections designed to ensure revived salvage vehicles are safe to return to California roadways. The Bureau of Automotive Repair’s (BAR) Vehicle Safety Systems Inspection (VSSI) Program inspects vehicle safety systems to ensure revived salvage vehicles can be registered with the Department of Motor Vehicles (DMV) and safely returned to the road. The BAR says that […]
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