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.

Business, Technology, Equipment

Ford Pulls Profit Forecast on Strike Impact

Ford Motor Co. said it fell short of third-quarter earnings expectations, citing higher costs and lower quality, a day after it won labor peace through a tentative contract with the UAW.

Keith Naughton | Bloomberg News
October 27, 2023
Government, Business, Technology, Autonomous

Cruise Grounds Robotaxi Fleet After California Suspension

Cruise has grounded its entire fleet just days after its license was suspended by California, in a setback for the company that has been laying the groundwork to expand to multiple cities.

Dana Hull and David Welch | Bloomberg News
October 27, 2023
Business, Technology, Private

Amazon Reports Q3 Revenue Gained 13% to $143.1 Billion

Amazon CEO Andy Jassy gave investors much of what they wanted: robust sales and profit growth along with a hint that the cloud division earnings machine is regaining momentum.

Matt Day | Bloomberg News
October 27, 2023
Business, Safety, Logistics

Norfolk Southern Turns to Automated Inspection Portals

Norfolk Southern has installed automated inspection portals on its tracks in Ohio — not far from where one of its trains went off the tracks in February and spilled chemicals that caught fire.

Josh Funk | Associated Press
October 26, 2023
Business, Logistics, For-Hire

Ryder Reports Slight Revenue Decline for Q3

Ryder System Inc. experienced a slight decline in year-over-year revenue amid market headwinds during the third quarter of 2023, the company reported Oct. 25.

Connor D. Wolf | Staff Reporter
October 26, 2023
Business, Safety

ATRI Opens Research on Challenges to Hiring Female Drivers

The American Transportation Research Institute has initiated new research focused on female truck drivers and how more can be brought into the industry.

Eric Miller | Senior Reporter
October 26, 2023
Government, Business, Logistics

Strike Halts All Shipping on St. Lawrence Seaway

MINNEAPOLIS — A strike has shut down all shipping on the St. Lawrence Seaway, interrupting exports of grain and other goods from Canada and the U.S. via the Great Lakes to the rest of the world.

Steve Karnowski | Associated Press
October 26, 2023
Government, Business, Technology, Fuel, Logistics

Ports Consider Digitization Strategies to Track Cargo

AURORA, Colo. — Ports and shippers are exploring ambitious port digitization and tracking system projects that allow stakeholders across the supply chain to track cargo in real time.

Dan Ronan | Senior Reporter
October 26, 2023
Business, Technology, Safety, For-Hire

Estes Express IT System Fully Restored, COO Says

Estes Express Lines’ information technology systems are “completely restored” after a cyberattack earlier in October, according to Chief Operating Officer Webb Estes.

Keiron Greenhalgh | Staff Reporter
October 26, 2023
Business, For-Hire

UPS Reports Lower Earnings on Labor Deal Costs

UPS Inc. cut its annual profit target on a spike in costs from a new union labor contract and weaker package demand.

Thomas Black | Bloomberg News
October 26, 2023