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.
Volvo Sees Rising Global Truck Demand Straining Supply Chain
Volvo AB boosted its forecast for truck markets in the U.S. and Europe this year as low fuel prices and interest rates push demand, a development that’s expected to put more strain on an already tight supply chain. The shares rose the most in three months.
Pending Home Sales Rise as Economic Gains Drive Demand
A measure of contract signings to buy existing U.S. homes rose in December for a third month, giving sales some momentum at the start of 2018, according to data released Jan. 31 by the National Association of Realtors.
Gov. Dannel Malloy Releases Revenue Plan for Connecticut
Connecticut Gov. Dannel Malloy released a revenue package Jan. 31 that is expected to stabilize the state’s Special Transportation Fund and restore previously canceled projects through various tax increases and a tolling system.
Cummins Acquires Battery Systems Business From Johnson Matthey
Independent engine maker Cummins Inc. continued its push into commercial vehicle electrification. The company announced it has acquired Johnson Matthey’s UK automotive battery systems business, a subsidiary that specializes in high-voltage automotive grade battery systems for electric and hybrid vehicles.
ArcBest Ends 2017 With Strong Fourth Quarter
ArcBest Corp. ended the year with a strong fourth quarter because of better less-than-truckload pricing and lower expenses than one year ago.
Meritor Sees Revenue Soar on Strong North American Market
Component supplier Meritor Inc. reported mixed fiscal 2018 first-quarter results, posting a tax-related net loss together with higher revenue amid strength in all its markets.
Companies Add More Jobs Than Forecast, ADP Data Show
Companies in the U.S. added more workers in January than projected, indicating the labor market remains healthy, according to data released Jan. 31 from the ADP Research Institute.
Minnesota DOT Studies Tolling Along Major Twin Cities Routes
The Minnesota Department of Transportation is considering the cost of expanding its tolling program, according to a feasibility study of several major corridors.
Wabash National 4Q Results Climb
Diversified trailer manufacturer Wabash National Corp. reported gains in fourth-quarter revenue and net income, but had a “reset” for the full-year as both indicators dipped.
January 30, 2018Strong 4Q Results for the New Knight-Swift
Knight-Swift Transportation reported results for its first full quarter as a single firm Jan. 30 since Knight and Swift closed on their $6 billion merger in September to become one of the largest full truckload carriers.