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.
Minnesota DOT Announces 188 Construction Projects
The Minnesota Department of Transportation unveiled the 188 road and bridge projects it will undertake during this year’s construction season.
N.J. Transportation Stakeholders Disagree Over Virtual Toll Hearings
New Jersey Transportation Commissioner Diane Gutierrez-Scaccetti fired back at critics April 2 who said the agency shouldn’t have held hearings on a proposal toll increase and $500 million capital plan on the Atlantic City Expressway during the coronavirus crisis.
Airlines Ordered to Refund Cost of Flights Canceled by Virus
Airlines must fully refund airfare to passengers whose flights have been canceled during the outbreak of COVID-19, the U.S. Transportation Department ordered on April 3.
GM, Honda Partner to Build Honda EVs in GM Plants
General Motors Co. and Honda Motor Co. announced an agreement April 2 to jointly develop two new electric vehicles for Honda that will be based on GM’s global electric-vehicle platform that’s powered by the Detroit automaker’s Ultium battery system.
Truckers Work to Overcome Difficulties in Food Supply Chain
Truckers hauling food are facing delays across the globe in the latest disruption to supply chains snarled by the coronavirus pandemic.
April 3, 2020Daimler AG Adds Liquidity With $12.94 Billion Loan
Daimler AG announced it extended its credit line and increased its financial flexibility with a $12.94 billion loan.
April 3, 2020US Sheds 701,000 Jobs, Ending a Record Hiring Streak
A recordlong streak of U.S. job growth ended suddenly in March after nearly a decade as employers cut 701,000 jobs because of the viral outbreak that has all but shut down the U.S. economy.
Cummins Cuts Pay, Hours in US to Offset COVID-19 Impact
Independent engine maker Cummins Inc. announced it slashed CEO pay by 50%, cut compensation for directors by 25% and lowered salaries for all other employees in the United States by 10% and 25% — and reduced working hours in response to the impact of COVID-19.
Navistar Expands Production Suspension; Allison Pauses Work Too
Navistar International Corp. announced it is broadening its temporary suspension in manufacturing operations, and Allison Transmission Holdings Inc. announced it has temporarily suspended production at select manufacturing facilities.
Amazon Diverts Masks to Hospitals, Pledges Warehouse Safety
Amazon .com Inc. said it will divert sales of masks and other medical supplies to hospitals and government entities.