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.
PHMSA Issues Rule Requiring Oil Spill Response Plans for Flammable Trains
The Pipeline and Hazardous Materials Safety Administration has issued a final rule that requires railroads to develop and submit comprehensive oil spill response plans for route segments traveled by high-hazard flammable trains.
Walmart Slips as Yet Another Overseas Obstacle Materializes
In India, an unfavorable e-commerce ruling is likely to crimp the growth for Walmart Inc. In China, the retailer says an economic slowdown has shoppers tightening their purse strings. And now in the U.K., a deal to reduce Walmart’s exposure to the slowing market there is on life support.
Wheaton Van Lines Acquires Stevens Worldwide
Wheaton Van Lines is acquiring Stevens Worldwide Van Lines, adding a fourth household goods moving company to its corporate holdings.
Alberta Expects $1.7 Billion Profit From Crude-by-Rail Operation
Alberta is preparing a giant crude-by-rail operation to help its oil-sands producers cope with a pipeline crunch, and it expects a big profit from the venture.
Tesla CEO Elon Musk Sets Goal of Making 500,000 Cars in 2019
Elon Musk said Tesla Inc. will make about 500,000 cars this year, a prediction that’s difficult to gauge given the CEO’s proclivity for setting stretch goals.
Volvo’s First Electric Trucks Put to Work
Volvo Trucks delivered its first all-electric vehicles to two companies operating in Sweden.
February 20, 2019PepsiCo Buys Wellness-Focused Muscle Milk in New CEO’s First Move
New PepsiCo Inc. CEO Ramon Laguarta has made his first acquisition, purchasing the maker of sports and wellness products Muscle Milk from Hormel Foods Corp. for an undisclosed amount.
White House Cancels $929 Million in Grants for California’s Beleaguered Rail Project
The Trump administration on Feb. 19 said it will cancel more than $900 million in federal grants earmarked for a high-speed rail project California that the state’s Democratic governor announced would be scaled back from its initial vision amid delays and cost overruns.
Corn Included in Trump’s Trade Talks With China
U.S. corn sales to China have been part of the ongoing trade discussions between the nations, President Donald Trump said from the White House Oval Office on Feb. 19.
January Trailer Orders Fall 35%, but Extend Record Backlog
U.S. trailer orders in January reached 25,800, dropping 35% compared with a year earlier, according to ACT Research Co.