Automotive

TOKYO (AP) — Japan marked a trade deficit for the 15th month in a row in October, as both imports and exports reached record highs amid the soaring costs of energy and food and a drooping yen. The deficit, at 2.

SACRAMENTO, Calif. (AP) — California will likely have a $25 billion budget deficit next year, state officials announced Wednesday, ending a run of historic surpluses and acting as a warning to other states about a potential recession.

OTTAWA — Transport Canada estimates as much as $3.9 billion in trade activity was halted because of border blockades across the country related to protests against COVID-19 restrictions last winter, a public inquiry heard Wednesday.

NEW YORK (AP) — Amazon has begun mass layoffs in its corporate ranks, becoming the latest tech company to trim its workforce amid rising fears about the wider economic environment.

TORONTO — Vietnamese electric vehicle maker VinFast says it has opened its first Canadian showroom as it prepares for a wider expansion into the market.

WINNIPEG — NFI Group Inc. reported a loss of US$42.6 million in its latest quarter compared with a loss of US$15.4 million in the same quarter last year as its revenue edged higher.

Toronto-based Waabi says it is launching its self-driving system in the real world as it looks to push trucking towards a more autonomous future.

DETROIT (AP) — Two new U.S. studies show that automatic emergency braking can cut the number of rear-end automobile crashes in half, and reduce pickup truck crashes by more than 40%.

DETROIT (AP) — Gas-electric hybrids were the most dependable vehicles sold in the U.S. in the past year, while big pickup trucks and fully electric automobiles performed the worst in Consumer Reports' annual reliability survey.

TOKYO (AP) — The Japanese economy contracted at an annual rate of 1.2% in the July-September quarter, as consumption declined amid rising prices. Seasonally adjusted real gross domestic product for the world’s third-largest economy shrank 0.