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.
Elaine Chao Reiterates Trump Administration’s Focus on Rural Corridors
WASHINGTON — The country’s vast network of freight and commuter corridors across rural areas are receiving newfound attention under the Trump administration, Transportation Secretary Elaine Chao insisted during a meeting with senators March 4.
Secretary Elaine Chao: USDOT Part of Government Plan to Address Coronavirus
WASHINGTON — A White House task force led by Vice President Mike Pence that is tackling the spread of the coronavirus is assisted by input from transportation officials, Secretary Elaine Chao reminded senators March 4.
Toyota Recalls 3.2 Million Vehicles Globally to Fix Fuel Pumps
Toyota Motor Corp. is recalling 3.2 million vehicles worldwide, more than half of which are in the U.S., to fix faulty fuel pumps.
Trucking Industry Weighs In on DOT Freight Plan
Infrastructure investment and increased truck parking capacity are among the recommendations listed by freight haulers that participated in the Department of Transportation’s request for information on its National Freight Strategic Plan.
Fiat Sales Boss Set to Leave After Settling Dispute Over SEC Probe
Fiat Chrysler Automobiles NV’s U.S. sales chief will leave next month after settling a dispute over how he was paid during a federal probe into the carmaker’s reporting practices.
Cummins Updates Medium-Duty Engines
INDIANAPOLIS — Cummins Inc. unveiled more sustainable and fuel efficient versions of two medium-duty engines at The Work Truck Show at Indiana Convention Center on March 3.
GM Shows 13 EVs in Bid to Match Tesla
DETROIT — General Motors, trying to refashion itself as a futuristic company with technology to compete against Tesla, rolled out plans March 4 for 13 new electric vehicles during the next five years.
US Businesses Add 183,000 Jobs in Sign of Pre-Virus Health
WASHINGTON — U.S. businesses added 183,000 jobs last month, a solid gain that shows the economy was largely healthy when the coronavirus outbreak spread farther around the globe.
Navistar Reports Net Loss in Fiscal Year Q1
Navistar International Corp. reported a net loss and lower revenue for its fiscal first quarter amid lower volumes as the industry continued to transition to a softer freight market.
Starsky Robotics Exits Autonomous Truck Space
Starsky Robotics became the first self-driving truck startup to cease operations after raising an estimated $17 million in venture capital in 2018, then failing later to secure more investors, according to people familiar with the matter.