XPO Logistics Reports Fourth-Quarter Loss of $62.8 Million
XPO Logistics Inc. reported fourth-quarter results that included a loss of $62.8 million, or 58 cents per share, and a glimpse of less-than-truckload performance at the former Con-way Freight unit that was acquired in October.
February 25, 2016Fleets, Shippers Battle on Rates While US Economy Downshifts
MIAMI — The softening U.S. economy is putting pressure on cost-conscious shippers to hold the line on freight rates this year, setting the stage for a tough battle with carriers seeking further rate increases to cover their own rising costs, such as driver pay.
February 15, 2016Carriers Cautious on Freight Market
MIAMI — Privately held trucking companies are approaching today’s freight market with a healthy dose of caution, prompted by factors such as high inventories and weaker exports, according to top carrier officials addressing an investor conference.
February 15, 2016CP’s Quest for Norfolk Southern Intensifies
MIAMI — Canadian Pacific Railway Ltd. and Norfolk Southern Corp. have upped the stakes in a $30 billion battle for control of the U.S. railway, as the potential acquirer said it would take its case directly to NS shareholders.
February 15, 2016XPO Logistics Suit Claims YRC Poached Execs, Stole Trade Secrets
XPO Logistics Inc. filed suit against YRC’s Freight unit, claiming that the company poached seven management employees, including two vice presidents, and stole trade secrets around the time that XPO was completing the acquisition of Con-way Inc.
February 8, 2016E-Commerce Powers UPS to 23% Rise in 4Q Profit
UPS Inc. raised fourth-quarter net income on an adjusted basis by 23% to $1.41 billion, or $1.57 per share, as a transition toward e-commerce package deliveries to consumers accelerated during the 2015 peak holiday shipping season.
February 8, 2016Wal-Mart Driver Pleads Innocent to Criminal Charges in Tracy Morgan Case
Kevin Roper, the driver of a Wal-Mart Stores Inc. truck in the 2014 accident that killed a colleague of comedian Tracy Morgan, has pleaded not guilty to manslaughter and nine other criminal charges, Roper’s attorney said.
February 4, 2016Large Truckload Turnover Worsens
Driver turnover among large and small truckload fleets is moving in opposite directions, at least for now.
February 1, 2016Fleet Failures Increase in 4Q; Pace Could Accelerate in 2016
Fleet failures increased sharply in the fourth quarter of 2015 and are likely to keep climbing this year as freight demand softens, a new report said.
February 1, 2016Most Truckload Profits Drop in 4Q as Freight Demand Slows
Truckload fleets that reported fourth-quarter earnings last week largely trailed the year-earlier quarter amid growing weakness in freight markets.
February 1, 2016