Business

PANAMA CITY — A severe drought that began last year has forced authorities to slash ship crossings by 36% in the Panama Canal, one of the world’s most important trade routes.

The recent freeze across Texas and Louisiana disrupted scheduled exports of U.S. liquefied natural gas, temporarily tightening some supply of the heating and power-plant fuel.

Goodyear Tire & Rubber Co. named Stellantis NV executive Mark Stewart as CEO following a pressure campaign by shareholder activist Elliott Investment Management.

Governors from several states have issued emergency proclamations waiving federal hours-of-service requirements for truckers carrying fuel, to prevent shortages in extreme weather.

The U.S. Bankruptcy Court for the District of Delaware approved the sale of 23 terminal leases owned by Yellow Corp. to six bidders for an aggregate price of $82.89 million, documents show.

Global shipping giants Hapag-Lloyd and Maersk have struck a partnership deal to operate some of their ships as a joint fleet in the future, the companies announced Jan. 17.

Around 1,500 unionized employees at Allison Transmission Holdings on Jan. 16 ratified a revised four-year labor agreement, the United Auto Workers union Local 933 said Jan. 17.

Warren Buffett’s Berkshire Hathaway has officially bought the last 20% of Pilot Travel Centers that it didn’t already own from the Haslam family.

LAS VEGAS — Component maker Schaeffler is developing an electric axle, motor and battery drivetrain package for North American commercial vehicles, up to and including Class 8 trucks.

Volkswagen AG lost another lawsuit in a German court over its software fix for engines in the wake of the diesel scandal that tarnished the reputation of Europe’s biggest carmaker.