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.
Trucking Companies Reaffirm Commitment to Diversity
Trucking companies are taking steps to expand and reaffirm their commitment to a diversified workforce, and to promote trucking as an inclusive industry.
Anthony Levandowski Sentenced to 18 Months in Prison
Autonomous driving engineer Anthony Levandowski was ordered to spend 18 months in prison for stealing trade secrets from Google as he defected to Uber Technologies Inc., in one of the highest-profile criminal cases to hit Silicon Valley.
Daimler Appoints Rainer Müller-Finkeldei to SVP Post
Daimler Trucks North America appointed Rainer Müller-Finkeldei senior vice president of engineering and technology.
Oil Jumps as Lebanon Explosion Signals Geopolitical Instability
Oil extended its rally and hit a two-week high after an explosion at Lebanon’s main port rocked the capital Beirut, pointing to geopolitical instability in the region.
Tropical Storm Isaias Drives Wild Weather Up Interstate 95
WINDSOR, N.C. — Tropical Storm Isaias spawned tornadoes and dumped rain along the U.S. East Coast on Aug. 4 after making landfall as a hurricane in North Carolina, where it smashed boats together and caused floods and fires that displaced dozens of people. At least two people were killed when one of its twisters hit a mobile home park.
Wilks Brothers Swoop In With Competing Offer for Calfrac
Wilks Brothers has made a competing proposal to recapitalize struggling energy company Calfrac Well Services Ltd. and criticized management’s deal as favoring insiders.
Meritor Reaches Brake Shoe Production Milestone
Meritor Inc. recently produced its 100 millionth brake shoe at its Plainfield, Ind., manufacturing facility.
August 4, 2020Senate Panel to Consider USDOT IG Nominee Eric Soskin
President Donald Trump’s nominee to lead the U.S. Department of Transportation’s internal watchdog division is scheduled to appear before a Senate panel Aug. 6.
Eaton Posts Q2 Operating Loss in Vehicle Unit
Power management company Eaton Corp. reported sharp drops in net income and revenue in the second quarter as the novel coronavirus pandemic cut vehicle production at key customers.
Shale Driller Sells Gas Fields for Fraction of Purchase Price
Range Resources Corp. is selling its Louisiana shale fields for about one-tenth of what it paid for them just four years ago as depressed natural gas prices hammered the heavily indebted driller.