°®¶¹´«Ã½

NEW YORK — Trevor Milton, the founder and one-time executive chair of Nikola Corp., surrendered July 29 in New York to face charges alleging he lied about the electric and hydrogen-powered truck startup, duping some financially struggling novice investors looking for income during the pandemic.

President Joe Biden will ultimately decide whether foreign chip producers will receive some of the $52 billion in funding planned to help ease the shortage that has hammered manufacturing, Commerce Secretary Gina Raimondo said.

The leaders of the U.S. Senate’s freight committee called on the Biden administration, congressional colleagues and private industry stakeholders to enhance security operations following the cyberattack on Colonial Pipeline.

Nearthlab’s drones use artificial intelligence and laser technologies to help pinpoint potential damage and reduce the chance of accidents during human inspections of wind turbines.

Shopify Inc. beat expectations in the second quarter, with adjusted profit per share more than double what analysts had forecast, and said operating earnings for 2021 should exceed last year’s.

Lordstown Motors Corp., the electric-vehicle startup struggling to find cash to move into production, reached a deal to sell as much as $400 million in stock over the next three years to an investment fund managed by Yorkville Advisors Global.

Two U.S. senators proposed repealing the excise tax on new trucks as an effort to modernize the freight industry.

Mobileye, an autonomous vehicle company owned by Intel, announced that it has been testing its driverless cars on New York City streets since June, making it the first and only company thus far to receive a New York AV testing permit.

General Motors Co. is suing its competitor Ford Motor Co. for violating a trademarked driver-assist technology that’s used for hands-free features, according to a lawsuit.

Magna International Inc. will acquire Veoneer Inc. for $3.8 billion in cash, bolstering its business supplying advanced driver-assistance systems to automakers.