Business

Stakeholders from the moving and storage industries have been made part of two groups that American Trucking Associations’ executive committee recently voted to create.

UPS Inc. and FedEx Corp., riding high from record package deliveries amid the coronavirus pandemic, are moving on to their next objective: showing investors they can boost profit in the approaching onslaught of the holidays.

Applications for U.S. unemployment benefits unexpectedly increased last week, a stumble for the labor market in its long road to recovery.

American Trucking Associations’ Intermodal Motor Carriers Conference on Aug. 17 filed a complaint against the Ocean Carrier Equipment Management Association and 11 international ocean carriers alleging conduct that violates the Shipping Act, charging they inflated prices in the intermodal chassis market at dozens of ports across the country.

The Director of National Intelligence has extended the deadline to Sept. 30 for a requirement that motor carriers that do business with the federal government locate and purge telecommunications equipment manufactured by five Chinese companies that may be in use in their operations.

The Trump administration is willing to consider the Democrats’ plan to spend $25 billion on the U.S. Postal Service — as long as lawmakers also provide other coronavirus relief sought by the White House, said spokeswoman Kayleigh McEnany.

U.S. central bankers noted the rebound in consumer spending at their last meeting but repeated their view that the path of the recovery would depend on containment of the virus.

Valaris Plc became the latest casualty of the global slump in oil prices, filing for bankruptcy Aug. 19 as the world’s largest offshore rig owner by fleet size seeks to restructure a roughly $7 billion debt load.

More than a dozen states sued President Donald Trump over changes at the U.S. Postal Service that they said trampled federal law and threatened delivery of mail-in ballots, even after Postmaster General Louis DeJoy pledged to delay the moves until after the November election.

The world’s largest container line may generate $1.5 billion more in operating profit this year than previously expected, as its business proves resilient to the COVID-19 crisis.