Technology

WASHINGTON — The Biden administration is awarding nearly $3 billion to boost climate-friendly equipment and infrastructure at ports across the country.

The rules, which come after more than a year of deliberation, ban some investments into those industries and require the U.S. government to be notified about others.

Adjusted earnings before interest and taxes this year will be about $10 billion, down from a previous outlook for as much as $12 billion, the company said Oct. 28.

“Securing these two sites in California is a significant step forward in our mission to support the electrification of commercial fleets,” said Sylvia Hendron.

A growing number of companies are bringing automation to agriculture. It could ease the sector’s labor shortage, help farmers manage costs and protect workers from extreme heat. 

Autonomous electric yard tractor software developer Outrider raised $62 million in an oversubscribed Series D financing round, it said Oct. 24.

The venture aims to develop a centralized operating system that could accelerate industry innovation by separating software from hardware development cycles.

Volkswagen AG plans to close at least three factories in Germany as Europe’s biggest automaker tries to slash expenses to become more competitive.

Volkswagen’s truck manufacturing brand Scania plans to equip all its future electric trucks with Northvolt batteries, in a vote of confidence for the cash-strapped Swedish battery maker.

Hyundai is recalling its hydrogen-powered Nexo SUV model in the United States for a fix after safety watchdogs warned of a potentially explosive fuel leak.