Business

About Business News...

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.

Government, Business, Safety

ATA Critical of Proposed Federal Downgrade of Marijuana

American Trucking Associations has expressed safety concerns over a Drug Enforcement Agency proposal to downgrade the classification of marijuana from Schedule I to Schedule III.

Eric Miller | Senior Reporter
May 29, 2024
Government, Business, Technology, Safety

Senator Promotes Emerging Transportation Technologies

The adoption of emerging technologies contributes to safety improvements throughout the nation’s transportation network, federal lawmakers and stakeholders said.

Eugene Mulero | Senior Reporter
May 29, 2024
Government, Business, Fuel

ConocoPhillips to Buy Marathon Oil for $17.1 Billion

ConocoPhillips is buying Marathon Oil in an all-stock deal valued at approximately $17.1 billion as energy prices rise and big oil companies reap massive profits.

Michelle Chapman | Associated Press
May 29, 2024
Business, Technology, Safety, Fuel, Autonomous

Tesla Settles Fatal Crash Suit Ahead of California Trial

Tesla reached a deal to resolve a lawsuit over the death of a Model S passenger in a 2016 crash, marking the second time in two months it has avoided a jury trial in California over a fatal wreck.

Rachel Graf | Bloomberg News
May 28, 2024
Government, Business, Technology

BET Evolution at Same Point as Brick Cellphones: Sanchez

Battery-electric trucks have arrived at an evolutionary point not dissimilar to the one that brick-style cellphones occupied in the 1980s, Ryder System CEO Robert Sanchez said.

Keiron Greenhalgh | Staff Reporter
May 28, 2024
Business, Fuel

Hess Investors Vote in Favor of $53 Billion Chevron Takeover

Hess Corp. shareholders approved Chevron Corp.’s $53 billion takeover despite reservations among several prominent investors about a dispute with Exxon Mobil Corp. over a key asset.

May 28, 2024
Business, Fuel

Industry-Led ZEV Infrastructure Group Sees Membership Rise

LAS VEGAS — Powering America’s Commercial Transportation finalized its initial membership cohort in recent days with 24 founding members.

Keiron Greenhalgh | Staff Reporter
May 28, 2024
Government, Business, Logistics

Update: Movers Group Seeks Review of $20B Contract for Military Moves

"Movers for America" is asking Congress to direct the U.S. Government Accountability Office to pause the $20 billion contract awarded to HomeSafe Alliance, evaluate program for moving military members and their families.

May 28, 2024
Business, Technology, Equipment, Fuel

Volvo to Begin Customer Hydrogen ICE Truck Tests in 2026

Volvo Group plans to begin testing trucks with hydrogen-powered internal combustion engines with customers in 2026 and launch commercial production toward the end of the decade.

Keiron Greenhalgh | Staff Reporter
May 28, 2024
Government, Business, Technology, Private

Shippers, Private Fleets Aim for Sustainability

LAS VEGAS — Despite higher costs, some shippers and carriers continue to invest in alternative fuels and zero-emission transportation to meet their corporate sustainability objectives.

Mindy Long | Special to Transport Topics
May 28, 2024