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.
Minnesota Biodiesel Standards to Double in 2018, Displeasing Trucking Industry
The state’s standard for the biodiesel blend will double to 20% at gas pumps next May, a decision that displeased trucking industry advocates.
Narrowing of US Trade Deficit in June Shows Export Swing
America’s trade deficit narrowed to an eight-month low in June, helped by the biggest outflow of goods and services since the end of 2014, a positive signal for the economy entering the third quarter, Commerce Department data showed Aug. 4.
Haldex Net Income Plunges in Second Quarter as Board Seeks to Curtail Takeover Bid
Commercial vehicle supplier Haldex AB reported net income plummeted and revenue improved slightly in the second quarter, amid protracted efforts by rival supplier Knorr-Bremse Group to purchase the company.
Trucking Jobs Rise Little in July as Unemployment Rate Matches 16-Year Low
Trucking industry jobs rose by 400 in July as overall payrolls rose by 209,000, the Labor Department reported Aug. 4.
August 4, 2017YRC Remains Profitable, but Less So Than in Year-Ago Quarter
LTL carrier YRC Worldwide was profitable during the second quarter, but at a lesser level than during the same time in 2016.
Navistar to Cease Engine Production at Melrose Park Plant
Manufacturer Navistar International Corp. is phasing out the production of engines at its Melrose Park, Ill., plant and will turn the facility into a technical center for truck and engine testing.
FedEx Will Shun Most Home Holiday Fees, Unlike UPS
FedEx Corp. will forgo most holiday surcharges on home deliveries this year, drawing a contrast with plans for stepped-up fees at UPS Inc. amid a surge in online shopping.
Meritor Rides Improving Industry Fundamentals to Higher Profit, Revenue
Commercial vehicle supplier Meritor Inc. reported net income and revenue rose in its fiscal third quarter, driven by broad increases in truck production plus new business wins.
Arconic Net Income, Revenue Post Gains in Second Quarter
Aluminum products supplier Arconic Inc. posted higher net income and revenue in the second quarter as all segments had higher volumes.
U.S. Xpress Laying Off 100 in Tennessee, Georgia
Truckload carrier U.S. Xpress Enterprises said it is laying off 100 employees — all nondrivers — at two southeastern locations, citing a change in “company focus.”