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.
Americold Reports Lower Net Income, Higher Revenue
Americold Realty Trust, one of the world’s largest logistics companies focusing on temperature-controlled warehouse facilities, on Aug. 8 reported second-quarter net income dropped to nearly $4.9 million from $29.4 million in 2018, an 83.3% decrease.
Government: Fitzgerald Now Owes $83 Million in Back Taxes
Attorneys for the U.S. Department of Justice have filed a counterclaim against Fitzgerald Truck Parts and Sales, adjusting the sum the glider truck maker owes the IRS to $83 million from $64 million for not collecting a 12% excise sales taxes on retail glider sales dating to 2012.
Experts to Dissect Industry Trends, Insights at ATA Economic Summit
Experts in the fields of manufacturing, logistics and the petroleum industry are scheduled to participate in American Trucking Associations’ economic summit in September.
Core Producer-Price Index Posts First Drop in Two Years
A measure of underlying U.S. producer prices unexpectedly fell in July, with the first drop since early 2017 adding to signs of muted inflation that may reinforce the case for further Federal Reserve easing.
Uber Freight Partners With TMS Company MercuryGate
Uber Freight announced a partnership with MercuryGate, an independent transportation management service provider.
August 8, 2019Walmart Fights $54 Million Lawsuit Verdict Awarding Drivers Sleeper Berth Pay
A three-member panel of the Ninth U.S. Circuit Court of Appeals heard oral arguments Aug. 6 in an appeal by Walmart Transportation of a $54 million jury damage award in 2016.
Daimler Trucks Appoints Paul Romanaggi Chief Customer Experience Officer
Daimler Trucks North America will create a new customer experience (CX) organization and appointed Paul Romanaggi as chief CX officer, according to the company.
August 8, 2019Chance of US Recession Rises to 35% Among Economists Surveyed
The likelihood of a U.S. recession in the next 12 months rose to 35% in an August survey of economists, from 31% forecast previously, as global trade tensions fuel economic uncertainty.
US Rushes to Ready New China Duties as Companies Fret Pain
The Trump administration is rushing to finalize a list of $300 billion in Chinese imports it plans to hit with tariffs in a few weeks’ time, as U.S. companies make a last-ditch appeal to be spared from the latest round of duties.
August 8, 2019Exxon Is Discouraging Witnesses in Climate Suit, N.Y. Says
New York accused Exxon Mobil Corp. of trying to discourage potential witnesses in a state lawsuit alleging the oil and gas company misled investors about the financial impact of climate change.