More than 105 nations at the COP26 climate summit in Scotland have backed the U.S. plan to cut global methane emissions by 30% from 2020 levels by 2030. Separately, Japan was one of the notable absences on a COP26 plan that would phase out the use of coal in many nations.
Every major semiconductor chipmaker has pledged to comply with a U.S. request for information regarding the global chip shortage, the commerce secretary said, as the administration aims to alleviate bottlenecks that have idled U.S. car production and caused shortages of electronics.
Mexico’s automobile production is at its lowest in a decade due to the computer chip shortage, which could suppress the nation’s GDP this year by up to 1%.
Air cargo handler IAG saw quarterly revenue rise by more than 34% from the same time last year, partially on a resurgence in passenger flight volumes.
A new proposal from the International Maritime Organization would charge vessel operators $100 for each metric ton of CO2 emitted per trip, a move that could bring in more than $1 trillion over the next three decades to help fund a global network of alternative fueling stations.
For a partial list of automotive disruptions caused by semiconductor and component shortages, click here.
The U.S. reported 125,491 COVID-19 infections and 1,218 virus deaths Monday.
Regeneron said its experimental COVID-19 antibody drug reduced the risk of contracting the virus by 81.6%, a potential breakthrough for people who do not respond to vaccines due to impaired immune systems.
A federal court upheld United Airlines’ policy of requiring COVID-19 vaccinations, a persuasive decision that could inform other rulings on the federal government’s broader vaccine mandate.
Long wait times are expected at the land borders with Canada and Mexico, as crossings of both people and freight return to pre-pandemic levels:
Despite an immediate increase in transatlantic airline bookings following the U.S.’s reopening of its borders, concerns remain over a lack of demand for business travel, normally a major source of airline profit.
The U.S. is offering $184 million in extra payroll assistance to 158 aviation manufacturing businesses, the second round of stimulus for the industry that has seen particularly harsh effects from the pandemic.
Ford sold $2.5 billion of “green” bonds to fund its transition to making electric vehicles, a first for the automaker and the largest ever such sale.
General Motors’ Cadillac has largely completed a restructuring of its U.S. dealer network and is expected to have 40% fewer dealers in 2022 than in 2018, as the carmaker ramps up production of electric vehicles in a bid to challenge Tesla.
The Justice Department has opened an investigation into electric-van startup Workhorse, the third electric vehicle startup to come under scrutiny from both federal prosecutors and securities regulators in the past 14 months.
Chinese exports surged 27% in October compared to a year ago, higher than analyst expectations and just a percent lower than September’s rise. The nation’s domestic housing troubles continue, however, with the largest sell off in high-yield bonds shaving about a third of bond holders’ wealth in just the past six months. New bank lending in China also plunged in October from September.
German industrial output in August was about 9% below its 2015 level compared to a 2% gain for the euro zone, as makers of cars and factory equipment falter under parts and labor shortages.
International tourism receipts are down significantly from pre-pandemic levels due to the loss of Chinese travelers, for many years the world’s biggest tourism spenders:
Australian lawmakers agreed to a $132 million plan to boost investments in hydrogen refueling and charging stations for electric vehicles (EVs), declining to adopt other environmental measures such as EV rebates or phasing out coal.
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