Brembo, the renowned Italian brake manufacturer, has announced its acquisition of Öhlins, a Swedish suspension company, from its parent company Tenneco for $405 million. This strategic move marks Brembo’s largest acquisition to date and is set to enhance the company’s presence in both the racing and aftermarket sectors. Matteo Tiraboschi, Brembo’s executive chairman, expressed enthusiasm about the merger, describing it as an excellent opportunity to broaden the company’s offerings within the automotive market. The acquisition of Öhlins is still subject to final regulatory approval, but it represents a significant addition to Brembo’s portfolio. Öhlins is well-regarded in the automotive industry…
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Toyota has formed a strategic partnership with the Haas F1 Team, designating Toyota Gazoo Racing (TGR) as the team’s official technical sponsor. This collaboration is effective immediately, with TGR branding set to appear at the upcoming United States Grand Prix. The partnership is particularly significant for Haas, as it is currently the smallest team in Formula 1, providing them with much-needed support in terms of resources and expertise. The multi-year agreement allows TGR to share its knowledge and technical resources with Haas, thereby enhancing the team’s performance. In return, Haas will provide its technical expertise, creating a collaborative environment aimed…
SINGAPORE (Reuters) -China said on Saturday it will “significantly increase” government debt issuance to offer subsidies to people with low incomes, support the property market and replenish state banks’ capital as it pushes to revive sputtering economic growth.Without providing details on the size of the fiscal stimulus being prepared, Finance Minister Lan Foan told a news conference there will be more “counter-cyclical measures” this year.Global financial markets have been keenly awaiting more details on China’s stimulus plans, fearing its 2024 economic growth target and longer-term growth trajectory may be at risk if more support is not announced soon.Here are some…
Twins Nikita and Iliya Bridan have carved a niche in the automotive world as innovative designers, previously associated with prominent brands like Acura, Cadillac, and Toyota. In 2019, they took a bold step by founding their own supercar company, Oilstainlab. Their vision diverges from conventional automotive manufacturing, focusing on creating one-off builds that evoke nostalgia and excitement, reminiscent of unfinished Le Mans prototypes from the 1960s. This design philosophy challenges the typical, often overcomplicated aesthetics of modern vehicles, opting instead for unique proportions and bold designs that stand out. One of their standout creations is the Half11, which garnered significant…
Stellantis, the global automotive powerhouse, is undergoing significant changes in its upper management, marking a crucial shift as it aims to enhance its focus on key business priorities. The most notable announcement is the impending retirement of CEO Carlos Tavares, who will step down at the end of his contract in early 2026. Tavares has been instrumental in the company’s journey, having been the first CEO of Stellantis since its inception in 2021, following the merger of Fiat Chrysler Automobiles and Groupe PSA. His leadership at Groupe PSA, where he oversaw pivotal decisions such as the separation of the DS…
The launch of Charlotte’s Ten Tenths Circuit was highlighted by the presence of the Mercedes-AMG One, the first of its kind to arrive on U.S. soil. This remarkable vehicle not only captured attention for its cutting-edge design but also for its owner—Rick Hendrick, a prominent figure in the automotive industry and a key partner in the Ten Tenths project. His identity was cleverly hinted at by the “H One” license plate, adding a personal touch to the event and seamlessly blending motorsport and luxury. At the event, Hendrick and Marcus Smith, CEO of Speedway Motorsports, discussed their motivations for creating…
By Allison Lampert and David Shepardson (Reuters) -Boeing will cut 17,000 jobs — 10% of its global workforce — delay first deliveries of its 777X jet by a year and record $5 billion in losses in the third quarter, as the U.S. planemaker continues to spiral during a month-long strike. CEO Kelly Ortberg said in a message to employees that the significant downsizing is necessary “to align with our financial reality” after an ongoing strike by 33,000 U.S. West Coast workers halted production of its 737 MAX, 767 and 777 jets. “We reset our workforce levels to align with our…
Longevity investors and entrepreneurs just gathered in Switzerland for an elite, annual conference.Business Insider was granted a rare peek inside.We found investments in supplements, skincare, and tech all booming. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy. You can opt-out at any time by visiting our Preferences page or by clicking “unsubscribe” at the bottom of the email. The small Swiss town of Gstaad, nestled in the Bernese Alps, looks like a setting ripe for…
During a recent reveal event, Tesla showcased its vision for an autonomous future, prominently featuring the highly anticipated Tesla Robotaxi. However, the spotlight also shone on the new Robovan concept, an ambitious vehicle that exemplifies the company’s forward-thinking approach. Led by Elon Musk, the event highlighted the Robovan as a significant step in the evolution of transportation, emphasizing its potential impact on how people and goods are moved. The Robovan, despite its name suggesting a more compact vehicle, resembles a hybrid between a bus and a train car, evoking comparisons to vintage locomotives with its art-deco design. Musk confidently proclaimed,…
Eau Claire police are alerting the public of recent fraud cases after helping recover $32,000 in one of the cases. EAU CLAIRE (WQOW) – Eau Claire police are alerting the public of recent fraud cases after helping recover $32,000 in one of the cases.The Eau Claire Police Department said on Thursday, officers were called to assist with an Anoka County missing persons case. The missing person was located at a hotel in Eau Claire. Officers later learned this missing person came to Eau Claire to pay $32,000 to who they thought was an agent with the FBI.After the money was…