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.
Goodyear Digital System Shows 15% of Truck Tires Need Service
GRAPEVINE, Texas — Goodyear Tire and Rubber Co. said during a customer event here that internal data has found that 15% to 18% of truck tires are either underinflated or have other safety-related issues.
Seattle Port Finds a Partner for Major Upgrade to Terminal
On Feb. 5, officials with the Northwest Seaport Alliance, the joint venture between the ports of Seattle and Tacoma, unveiled a tentative deal with Seattle-based Stevedoring Services of America Terminals, one of the world’s largest terminal operators, to manage a planned “big ship” loading facility on Terminal 5, just west of Harbor Island.
ArcBest Reports Highest Yearly Revenue in Company History
For-hire carrier ArcBest reported an increase in revenue but a decline in net income for the fourth quarter of 2018.
Cummins Posts Record Annual Revenue on Engine Gains
Independent engine maker Cummins Inc. reported higher net income and set a record for annual revenue, led by gains in North America.
Intermodal Volume Growth in 2018 Best in Five Years, IANA Report Says
Driven by tight trucking capacity and the threat of tariffs, intermodal volumes increased 5.6% in 2018, their highest growth in five years, according to the Intermodal Association of North America’s annual report.
Elon Musk Tweet Sparks Mercedes-Tesla Talks Over Electric Van Project
Elon Musk’s praise for Daimler AG’s Mercedes-Benz Sprinter van triggered talks between the German manufacturer and Tesla Inc. over potential cooperation on an electric version.
Daimler Posts Lower Earnings Despite Record Truck Sales
Daimler AG, citing regulatory and trade headwinds, reported a decline in net income for the fourth quarter and full 2018 while revenue inched up in both periods amid an all-time record for global truck sales.
Goodyear Researches Soybean Oil as Component of Truck Tires
GRAPEVINE, Texas — Within the next few years, the truck tire you buy may be manufactured in part with soybean oil instead of petroleum. At its annual Customer Care Conference, Goodyear Tire and Rubber Co. showed off some of the research that is taking place with alternative methods of tire manufacturing.
Trade Gap Narrows to Five-Month Low as Imports Plummet
The U.S. trade deficit narrowed in November by more than forecast to a five-month low, as imports tumbled by the most in more than two years amid an intensifying trade war.
FourKites Receives $50 Million in New Funding From Investors
Shipment-tracking company FourKites has collected $50 million in funding from a group of existing investors that includes August Capital, Bain Capital Ventures, CEAS Investments and Hyde Park Angels.
February 6, 2019