Powell Warns of Possible Sustained Recession From Pandemic
Federal Reserve Chair Jerome Powell warned May 13 of the threat of a prolonged recession resulting from the viral outbreak and urged Congress and the White House to act further to prevent long-lasting economic damage.
May 13, 2020Circle Logistics Starts Bulk Division Focused on Ethanol
Freight broker Circle Logistics, which saw its business impacted by automakers' shutdown due to the coronavirus crisis, countered the stress by creating a bulk division to deliver tankers of ethanol, the key ingredient in hand sanitizer.
May 13, 2020Amazon Says Deliveries Returning to Normal After COVID-19 Crush
Amazon .com Inc. says the one- and two-day delivery times that shoppers have come to expect should gradually return in coming weeks as the online retailer catches up from a demand surge tied to the coronavirus outbreak.
May 13, 2020Uber’s Bid to Acquire Grubhub Draws Rebukes
Uber Technologies Inc.’s offer to buy Grubhub Inc. antagonized officials in Washington and major U.S. cities, who already were taking steps to limit the fees companies charge restaurants and regulate their treatment of workers. If a deal between the companies proceeds, analysts said it is likely to face antitrust scrutiny.
May 13, 2020CVSA’s 2020 Operation Safe Driver Week to Go On as Scheduled July 12-18
The Commercial Vehicle Safety Alliance’s 2020 Operation Safe Driver Week will go on as scheduled July 12-18, the trade association representing roadside inspectors announced May 12.
May 12, 2020XPO’s Brad Jacobs Says Company Open to Future Acquisitions
With at least $2 billion in cash, and $500 million in credit available, XPO Logistics Chairman and CEO Brad Jacobs says he would consider an acquisition if the company was a good fit.
May 12, 2020Alameda County Orders Tesla’s Fremont Plant to Stop Production
Alameda County officials sent a letter to a top Tesla safety employee May 11 ordering the company to cease manufacturing at its Fremont, Calif., plant, the strongest step local government has taken to check the electric car maker’s defiance of health orders.
May 12, 2020Democrats’ $3 Trillion New Virus Bill Aids States, Essential Workers
House Speaker Nancy Pelosi unveiled a more than $3 trillion coronavirus aid package May 12, providing nearly $1 trillion for states and cities, “hazard pay” for essential workers and a new round of cash payments to individuals.
May 12, 2020Florida Trucking, Government Leaders Provide 500 Free Meals for Truckers
Florida transportation officials, police officers and trucking association representatives recently teamed to distribute free meals to truckers at a rest area on Interstate 75 as an act of appreciation during the coronavirus pandemic.
May 12, 2020US Meat’s Run of Growth to End in Pandemic
Meat-processing disruptions in America are set to strip billions of pounds of production, snapping a yearslong run of growth in the industry, according to the U.S. Department of Agriculture.
May 12, 2020