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.
Two Former Celadon Executives Charged in Fraud Scheme
The Securities and Exchange Commission and federal prosecutors on Dec. 5 charged two former top executives of Indianapolis-based trucking company Celadon Group Inc. for their participation in an accounting fraud in 2016 and 2017 that allegedly inflated the company’s income and earnings per share.
Lineage Acquires Emergent Cold as Refrigerated Supply Heats Up
Lineage Logistics Holdings said it will acquire Emergent Cold in the latest consolidation of cold-storage companies that do business globally.
Saudi Aramco Plans $25.6 Billion Share Sale in Richest IPO Ever
DUBAI, United Arab Emirates — Saudi Arabian oil company Aramco on Dec. 5 set a share price for its IPO — expected to be the biggest ever — that puts the value of the company at $1.7 trillion, more than Apple or Microsoft.
Freight Rail Growth Slows Due to Competition From Trucking
Growth in rail freight has been hampered this year by competition from trucking, in part driven by trucking’s falling rates and extra capacity.
Share of Small Businesses Planning Higher Pay Nears Record
As a tight labor market makes filling positions more difficult, 26% of U.S. small-business owners plan to increase pay in coming months, the most since a record in 1989, according to a National Federation of Independent Business report out Dec. 5.
Toyota Having Trouble Keeping Hybrid Car Models in Stock
Toyota Motor Corp. has a problem with selling its hybrids — it can’t get enough of them.
Enhance Freight Connectivity in Next Highway Bill, Executives Tell US House Panel
Consideration in Congress of an extensive update to federal transportation guidelines must prioritize sustainable funding that enhances freight connectivity and reduces congestion, industry stakeholders told lawmakers on Capitol Hill on Dec. 5.
Class 8 Orders Slump for Weakest November Since 2015
Preliminary North American Class 8 net orders for November passed 17,000 and hit the second-highest point reached this year, but analysts at two data-tracking firms said it did nothing to alter the slumping direction of the overall trend.
Possibilities, Costs ‘Enormous’ for A2A Rail
The backers of a new rail line to link Alaska to Canada and Lower 48 markets insist it would generate upward of $5 billion of freight revenue through the state.
US Trade Gap Narrows 7.6% to $47.2 Billion in October
WASHINGTON — The U.S. trade deficit narrowed in October as imports fell faster than exports. The politically sensitive trade gap with China dropped.