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, Logistics

Work Begins on $16.1 Billion New York-New Jersey Tunnel

The $16.1 billion, long-delayed, once-canceled effort to build a new rail tunnel linking New York and New Jersey is officially starting construction after more than a decade of false starts.

November 3, 2023
Government, Business, Technology, Logistics

AI, COVID Created a New Normal for the Supply Chain

HOUSTON — A supply chain expert said the arrival of open-source artificial intelligence just as the global economy was emerging from the pandemic created turbulent economic conditions.

Connor D. Wolf | Staff Reporter
November 3, 2023
Government, Business

Job Growth Slows in October, but Still Sturdy at 150,000

WASHINGTON — The nation’s employers slowed their hiring in October, adding a modest but still decent 150,000 jobs, a sign that the labor market may be cooling but remains resilient.

Paul Wiseman | Associated Press
November 3, 2023
Government, Business, Logistics

Biden Administration Awards $653 Million to Upgrade Ports

WASHINGTON — The Transportation Department on Nov. 3 awarded $653 million in grants to upgrade and improve 41 water-based ports across the United States.

November 3, 2023
Business, Equipment

UAW Members at Michigan Ford Plant Approve New Contract

DETROIT — Autoworkers at the first Ford factory to go on strike have voted overwhelmingly in favor of a tentative contract agreement reached with the company.

Tom Krisher | Associated Press
November 3, 2023
Business, Logistics

Maersk to Slash 10,000 Jobs

COPENHAGEN, Denmark — Maersk said Nov. 3 that it plans to eliminate 10,000 jobs due to what it described as a challenging environment for container trade and logistics services.

November 3, 2023
Government, Business, Technology, Safety, Fuel, Logistics, Perspective

Perspective: As an Industry, Let's Win the Sale

At a time when our political system has grown so adversarial, I believe trucking threads a needle of common purpose.

Andrew Boyle | Chairman, American Trucking Associations
November 2, 2023
Business, Equipment

Mack Trucks Launches Subscription-Based Leasing for MD Electric

SONOMA, Calif. — Mack Trucks on Oct. 30 launched ElectriFi Subscription, a usage-based leasing option for the MD Electric truck.

Keiron Greenhalgh | Staff Reporter
November 2, 2023
Business, Equipment, Fuel

Mack Trucks Showcases MD Electric Truck in California

SONOMA, Calif. — Mack Trucks showcased its medium-duty MD Electric truck Oct. 30 through Nov. 1 at Sonoma Raceway.

Keiron Greenhalgh | Staff Reporter
November 2, 2023
Business, Equipment

Cummins Profit Soars as Meritor Deal Boosts Revenue

Cummins Inc. posted a 64% year-over-year jump in profits in the third quarter of 2023 as the acquisition of axles and brakes specialist Meritor continued to boost the company’s bottom line.

Keiron Greenhalgh | Staff Reporter
November 2, 2023