The Trump administration said yesterday that it wants to freeze fuel-efficiency requirements for automobiles and trucks through 2026, putting it directly at odds with California's standards and climate-control advocates, as well as prevailing sentiment in the auto industry. Transportation Secretary Elaine L. Chao's and acting EPA administrator Andrew Wheeler's joint proposal was published by the "Wall Street Journal" under the headline, "Make Cars Great Again."

Molson Coors Canada and The Hydropothecary Corporation (aka Hexo), a Canadian cannabis producer, are teaming up to create weed-infused nonalcoholic beverages for the Canadian market as a yet-to-be-named start-up company. Molson Coors Canada will hold a 57.5% controlling stake in the venture when the deal closes, hopefully before Sept. 30. Hydropothecary will own the rest.

Apple sold fewer iPhones than it expected to in the third quarter but it made more money doing so, thanks to the increasing popularity of the high-end X model. It also saw Apple Watch sales growing in the "mid-40% range" and its services revenue surge 31% year over year, setting it on track to become the world's first trillion-dollar company.