The Reserve Bank has held interest rates, despite acknowledging stubbornly high inflation, in its third decision of the year. Tuesday’s decision means the cash rate will remain at 4.35 per cent, as it has been since the most recent hike last November. WATCH THE VIDEO ABOVE: RBA announces interest rate hold. Economists largely anticipated the … Read more
Image: Fisker Fisker just can’t catch a break. The automaker is still currently teetering on the edge of bankruptcy. And despite huge discounts on the Ocean, the vehicle is mess of issues. If a recent earnings call is to be believed, however, the Ocean itself might not matter much anymore. This Is The New Mercedes-Maybach Night … Read more
Image: Joopiter Some of the coolest and weirdest cars from the late-1900s are up for auction right now, but I can promise you won’t find a good deal among them. Multi-hyphenate music star Pharrell Williams started an auction company recently, called Joopiter, and has teamed up with New York high-end car collection business Morton Street … Read more
Mumbai: Mahindra & Mahindra Financial Services reported a 10% year-on-year fall in profit in the quarter to March amid a sharp rise in provisions and higher finance costs. Standalone net profit fell to ₹619 crore in the quarter from ₹684 crore a year ago, largely as total provisions increased to ₹341 crore in March 2024 … Read more
More than three million Australians will have their student debt wiped in a bid to win over younger voters crushed by the cost of living crisis. Education Minister Jason Clare on Sunday announced the government would cap the Higher Education Loan Program (HELP) indexation rate, eliminating about $3 billion of student debt. The capped rate … Read more
Here at Jalopnik, we know there’s nothing wrong with keeping a beloved old beater running for mile after mile, and we regularly celebrate high mileage heroes. Now, it turns out the rest of America is catching onto this way of thinking as the savings of holding onto an old car for longer begin mounting up. … Read more
Good morning! It’s Friday, May 3, 2024, and this is The Morning Shift, your daily roundup of the top automotive headlines from around the world, in one place. Here are the important stories you need to know. 1st Gear: Interns Are Tesla’s Latest Cost-Cutting Victims It’s a stressful time for anyone with a job at … Read more
The launch of the Fisker Ocean has been plagued with problems, and those problems are now compounding in ways that make everything worse for owners. See, problems mean repairs, but parts shortages mean those fixes could take eons to actually complete — unless you have a “graveyard” of preproduction parts to slap onto customer cars. … Read more
Adam Neumann’s bid to buy back WeWork essentially ended this week. A bankruptcy court on Monday approved a deal that gets WeWork out of debt. It could conclude its restructuring and leave bankruptcy by late May following a vote on the deal, thanks to $450 million in financing provided largely by WeWork creditor and real … Read more
Bringing down airfare prices by releasing Qantas and Virgin Australia’s stranglehold on the domestic flight market will require government intervention or a competitor with “very deep pockets”, tourism supremo Graham “Skroo” Turner believes. Turner, the chief executive of Flight Centre, has expressed his concern about budget airline Bonza going into voluntary administration this week, grounding … Read more
