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.
Lyft Reveals Big Growth but No Profits as It Readies for IPO
NEW YORK — Lyft revealed that it is growing quickly ahead of its initial public offering but continues to bleed money and may struggle to turn a profit, according to a federal filing.
March 4, 2019Chatbots Are Emerging as Powerful Tools for the Transportation Industry
Artificial intelligence-powered chatbots are often not even known as such by the user. Instead, they are often packaged among the automated features of enterprise resource planning systems increasingly used by shipping firms as AI and data science continue to evolve.
March 3, 2019Shigehiro Matsuoka Chosen as New CEO at Hino North America
Hino Trucks announced Shigehiro Matsuoka was appointed CEO of Hino North America.
March 1, 2019Auxo Investment Partners Acquires Great Lakes Shipper Andrie
Private investment firm Auxo Investment Partners is partnering with the Andrie family with an investment in Andrie LLC, a Michigan-based bulk transporter of specialty products including liquid asphalt, cement, light oil petroleum products and calcium chloride, according to an Auxo news release.
March 1, 2019Allison Invests in New Testing Facility
Allison Transmission announced it is investing in a new vehicle testing facility to support testing for a wide range of propulsion systems, including conventional powertrains, alternative fuel, electric hybrid and fully-electric vehicles.
March 1, 2019FedEx Introduces Same-Day Delivery Robot
FedEx Corp. unveiled an autonomous delivery device designed to help retailers make same-day and last-mile deliveries to customers, showing off the robot on “The Tonight Show Starring Jimmy Fallon” on Feb. 26.
C.H. Robinson Acquires Spanish Freight Forwarder Space Cargo Group
C.H. Robinson Worldwide, in a move to bolster its international freight business, has purchased The Space Cargo Group, a company based in Madrid that provides freight forwarding, customs brokerage and other logistic services in Spain and Colombia, for $48 million in cash.
March 1, 2019From My Little Pony to Kitty Litter, Trucking Pressures Prices
America’s trucker shortage is about to hit consumers right where it hurts: in the kitty litter.
Tesla Pushes Cheaper Cars, Will Move Sales Online and Close Most Stores
Tesla said Feb. 28 it will close “many” of its stores and shift to online-only sales after announcing that its long-awaited $35,000 Model 3 is available for purchase.
Consumer Spending Fell Sharp 0.5% in December
WASHINGTON — U.S. consumer spending tumbled 0.5% in December, the biggest decline in nine years, as the holiday shopping season ended in disappointment. Meanwhile, incomes rose sharply in December but edged down in January.