Business
Transport Topics business coverage focuses on the financial, economic, and commercial aspects of the modern freight business. Looking at both the microeconomic and macroeconomic forces shaping bottom lines, the news in this category includes labor news, jobs reports, tonnage and sales indicators, operations analysis, money and banking, mergers, acquisitions, e-commerce, bankruptcy, insurance issues, and more.
Ohio Trucker Touts Trump’s Handling of Lordstown in RNC Video
CLEVELAND — Youngstown, Ohio, trucker Geno DiFabio received prime time billing at this week’s Republican National Convention, appearing in a video Aug. 25 with Vice President Mike Pence praising President Donald Trump’s handling of the Lordstown General Motors assembly plant closure.
Schneider to Test Freightliner eCascadia Through 2021
Schneider said it will test the Freightliner eCascadia through 2021 to address potential challenges to widespread use of commercial battery-electric vehicles.
USPS Fights State Demands for Evidence on Mailboxes, Machines
The Trump administration is pushing back on demands for evidence sought by 14 states that sued over operational changes at the U.S. Postal Service they say could hobble mail-in balloting ahead of November’s election.
Fed Seen Holding Rates at Zero for Five Years in New Policy
The Federal Reserve looks likely to keep short-term interest rates near zero for five years or possibly more after it adopts a new strategy for carrying out monetary policy.
Now a Category 4 Hurricane, Laura Could Bring ‘Unsurvivable’ Storm Surge
DELCAMBRE, La. — Laura strengthened Aug. 26 into a menacing Category 4 hurricane, raising fears of a 20-foot storm surge that forecasters said would be “unsurvivable” and capable of sinking entire communities. Authorities implored coastal residents of Texas and Louisiana to evacuate and worried that not enough had fled.
August 26, 2020Durable Goods Orders Unexpectedly Accelerate in July
U.S. orders for durable goods rose in July by more than double estimates amid a continued surge in automobile demand, indicating factories will help support the economic rebound in coming months.
American Airlines Expects 19,000 Job Cuts Once Payroll Aid Ends
American Airlines Group will cut 19,000 workers once federal payroll aid expires Oct. 1, capping a 30% workforce reduction since the coronavirus pandemic began to torpedo travel demand.
NACFE Identifies Priority Regions for EV Deployments
The United States has five high-priority areas where the regional haul environment is inherently so well suited for moving freight economically with electric vehicles that fleet owners there should plan to deploy those trucks “even if just as a pilot project,” according to the North American Council for Freight Efficiency.
New York, New Jersey Sue Trump, DeJoy Over USPS Service Changes
New York and New Jersey sued President Donald Trump and Postmaster General Louis DeJoy over major changes to postal service operations that the states fear will hinder mail-in voting during the November election.
Trump Touts Infrastructure Permitting Reforms
The administration’s recent aim at advancing infrastructure projects through environmental permitting changes was touted by President Donald Trump.