Business

Yet another Texas terminal is preparing to export oil, even as the pandemic continues to hammer global demand for U.S. crude.

U.S. retail sales of medium-duty trucks fell across the board in May, landing below 15,000, WardsAuto.com reported.

Caterpillar Inc.’s machinery sales dropped by the most in 10 years last month in a sign of a deepening slump in its Americas businesses, where the company has extended plant shutdowns.

Oil is heading for its first weekly loss since April, when prices collapsed below zero.

The executive chairman of Nikola Corp. is under siege from skeptics of the company he started in 2014 with the goal of revolutionizing the trucking industry.

Treasury Secretary Steven Mnuchin said the U.S. shouldn’t shut down the economy again even if there is another surge in coronavirus cases.

Roadrunner Transportation Systems was in the final steps in a multiyear financial turnaround effort when the coronavirus pandemic hit, forcing the company to confront the same economic challenges facing all of trucking while also seeing its plans through, a company executive said.

U.S. nonfinancial business debt soared in the first quarter by the most in records back to 1952, as bank loans and corporate bond issuance jumped in companies’ all-out effort to stay liquid during the coronavirus pandemic.

Agencies that oversee freight and passenger transportation policies will gain a clearer outlook for the next fiscal year when Congress this summer considers its annual funding legislation for the U.S. Department of Transportation.

Kodiak Robotics Inc. recently made its 350th commercial delivery and detailed how it is approaching the challenge of providing its longhaul trucks with self-driving technology.