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.
FedEx Joins UPS, USPS in Adding Fees as Holiday Delivery Surge Looms
FedEx Corp. is joining a rush to apply extra holiday fees on high-volume shippers as couriers brace for a new jump in residential deliveries during the year-end peak season.
US Housing Starts Surge by Most Since 2016, Permits Climb
U.S. home construction starts increased in July by more than forecast and applications to build surged by the most in three decades, indicating builders are responding to robust housing demand fueled by record-low interest rates.
Average Price of Diesel Stays Essentially Flat at $2.427 a Gallon
The price of diesel remained essentially flat the past week, dipping one-tenth of a cent to $2.427 a gallon, the Energy Information Administration reported Aug. 17.
US Approves Oil, Gas Leasing Plan for Alaska Wildlife Refuge
The Trump administration on Aug. 17 took another step to opening Alaska’s Arctic National Wildlife Refuge to drilling for oil and gas, potentially fulfilling a decadeslong dream for Republicans.
Minnesota, Missouri, Ohio, Wisconsin DOTs Win AASHTO Awards
Transportation projects in four Midwestern states recently received awards from the American Association of State Highway and Transportation Officials.
Tesla Extends Rally With Market Value Nearing Consumer Giant P&G
The relentless rally in Tesla Inc. shares has driven its valuation close to the consumer product behemoth Procter & Gamble Co. as investors bet on the electric vehicle maker’s ability to dominate the automotive market of the future.
DeFazio Calls for Ouster of Postmaster General Louis DeJoy
Rep. Peter DeFazio, chairman of the U.S. House of Representatives’ transportation panel, is among the elected officials calling on the head of the country’s Postal Service to step down.
Jennifer Polli to Step Down as Trac Intermodal CEO
Trac Intermodal on Aug. 17 announced that President and CEO Jennifer Polli is leaving the company and will be succeeded by Daniel Walsh, formerly of XPO Logistics.
Uber Seeks Court Reprieve After California Shutdown Threat
Uber Technologies Inc. joined Lyft Inc. in asking an appeals court for an extended reprieve on converting California drivers to employees after both companies warned that a rapid overhaul of their business models may force them to suspend operations in their home state.
Black Horse Carriers Joins Penske’s Electric Vehicle Program
Penske Truck Leasing announced that dedicated fleet services company Black Horse Carriers has joined its electric vehicle program.
August 17, 2020