Amazon exceeded second-quarter profit expectations by earning $7.8 billion, or $15.12 per share, but it failed to meet analyst expectations for sales, which increased 27% year over year to $113.1 billion. The company's performance was fueled by continued diversification into different business segments, such as cloud computing and advertising.
Craft Aerospace is developing a novel kind of vertical takeoff and landing aircraft that could serve as a city-to-city air taxi. The prototype uses flaps to capture airflow from the engines to provide lift, a technique that has never been used on a production aircraft.
Residents in low-income neighborhoods around Roxbury, Mass., will soon have access to electric vehicles thanks to a car-sharing nonprofit. Good2Go is working with Mobility Development on the pilot project, which they hope can be replicated in other cities.
Transport for London has announced plans to make a temporary 30% congestion charge increase permanent in response to the return of traffic to the English capital. The increase was implemented during June 2020, and the new plan will cut charge collection hours to weekdays between 7 a.m. and 6 p.m.
The Miami-Dade Expressway Authority's board has approved a change that will allow drivers that have paid over $100 in tolls between July 2019 and June 2021 to join its toll rebate plan. Drivers along the Miami-Dade Expressway in Florida have already received $19 million in rebates during the last four years.
The International Bridge linking Ontario and Michigan will get a new toll system on the American side of the crossing. IBI Group will provide operations and maintenance on the new system for 10 years.
The growth in e-commerce will drive the share of in-store sales down from roughly 70% this year to 62.4% by 2025, according to research firm Edge by Ascential. David Gordon, director of omnichannel insights at Edge Retail Insight, says the shift will require stores to act as "a physical portal into brand and product experiences" while also becoming "an increasingly vital part of last-mile fulfillment."
Although US retail sales of new cars this month are expected to grow 3.7% from a year before, the total of 1.2 million vehicles will be down from the expectations established by preceding months. That's according to LMC Automotive and J.D. Power, whose analysis also says that the supply squeeze points to record dealer profits from new cars, with Thomas King noting that "consumers will spend more money buying new vehicles than ever before in the month of July."
An unsolicited proposal to replace the Cape Fear Memorial Bridge in Wilmington, N.C. was nixed yesterday, as the Wilmington Urban Area Metropolitan Planning Organization voted 7-5 against the option. The board also voted down a substitute resolution that would have explored the toll bridge option and asked the state Department of Transportation to explore other funding sources for a bridge replacement.
The city council of Vancouver, Wash., has passed a resolution calling for the Interstate 5 bridge to be replaced. The bridge would help relieve traffic congestion on local roads and raise revenue via tolls for other congestion relief programs.
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