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.
Outfitted Kenworth W990 to Set Off With Capitol Christmas Tree
A new Kenworth W990 has the honor of hauling the 54th U.S. Capitol Christmas Tree. The approximately 3,000-mile journey to Washington will start Nov. 9.
Intermodal Shipments Up 4.7% in Third Quarter
Intermodal shipments grew 4.7% in the third quarter as companies stepped up imports ahead of promised U.S. tariffs on foreign goods and domestic shippers shifted from highway to rail in response to rising freight rates and constraints on truck capacity.
TravelCenters of America Reports Mixed 3Q Results
TravelCenters of America reported higher third-quarter revenue and a net loss tied to the sale of its convenience store business.
Job Openings Drop From Record; Quit Rate Stays Elevated
U.S. job openings fell in September from a record in the previous month while Americans continued to voluntarily leave their positions at the highest rate since 2001, Labor Department data showed Nov. 6.
Walmart Surpasses Amazon as Online Shoppers’ Most Popular Grocer
Look out, Amazon: Walmart is coming to steal your lunch — and maybe dinner too. The world’s largest retailer has surpassed the e-commerce giant in a survey of online food shoppers, more of whom said they most recently visited Walmart’s site for groceries.
Brandt Group Acquires Camex
The Brandt Group of Cos. has announced it is expanding into the specialty transportation equipment industry with the acquisition of Camex Equipment Sales & Rentals, an Edmonton, Alberta-based firm.
November 6, 2018Expeditors International Posts Record Profits, Net Revenue in 3Q
Expeditors International of Washington Inc. achieved record profits and net revenue in the third quarter as the Seattle-based air and ocean freight forwarder benefited from lower taxes and kept ahead of rising transportation costs in a tight-capacity market.
GE’s Latest Offspring Sees Green Boost for Gas Engine Sales
The latest company born out of General Electric Co. expects sales of its industrial engines fired by natural gas to benefit from the spread of renewables such as solar and wind.
Hub Group to Acquire Retail Consolidation Specialist CaseStack
Hub Group has agreed to acquire CaseStack Inc. for $255 million as part of a strategy to expand and diversify its transportation service offerings.
Amazon Is Said to Split HQ2 Between New York, Northern Virginia
Amazon.com’s yearlong search for a second headquarters is nearing an end, people with knowledge of the matter said. One will be the Crystal City area of Arlington, in Northern Virginia, two people said. Another will be Long Island City, in the New York borough of Queens, other people said. An Amazon spokesman declined to comment.
November 6, 2018