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.
XPO Hires Christopher Synek as President of North American Transportation Division
XPO Logistics has hired Christopher Synek as president of transportation in North America, running the brokerage, expedited trucking, intermodal marketing, drayage and global forwarding businesses.
July 26, 2017Ryder Sets 2Q Revenue Record, Even as Net Income Slides 30%
Truck leasing and logistics company Ryder System brought in 5.25% more revenue, enough to set a second-quarter record, but poor used-truck pricing and higher expenses diminished earnings by 30.4%, year-over-year.
Patriot Transportation Struggles to Remain Profitable as Earnings Decline Sharply
Patriot Transportation Holding Inc., a tank truck carrier, announced sharply declined profits due to a significant loss of business, plunging 67% for its fiscal third quarter.
Drones, Artificial Intelligence Creep Into Road Construction
High above the Balfour interchange on State Route 4 in Brentwood, Calif., a drone buzzes, its sensors keeping a close watch on the volumes of earth being moved to make way for a new highway bypass.
Daimler Second-Quarter Revenue Increases, Profits Flat; Truck Unit Sputters
Daimler AG reported higher revenue and flat profits during the second quarter, with a strong performance from its Mercedes-Benz car division but sputtering results from the global truck unit.
Cargo Activity at Illinois Airport Jumps 39% as UPS, Amazon Flights Increase
More jobs and cash have landed at Chicago Rockford International Airport, where cargo volume is up nearly 40% for the first six months of the year compared with the first half of 2016.
Norfolk Southern Profits Surge 23%, Completing Red-Hot Second-Quarter Rail Results
Norfolk Southern Corp. completed a red-hot second quarter for rail freight carriers, posting a 23% increase in profits and a 15% increase in operating income reversing a lackluster year in 2016.
Pace of US New-Home Sales Suggests Steady Housing Strength
The U.S. housing market is stabilizing near 10-year highs, according to government data July 26 that showed sales of new homes were slightly less than forecast.
July 26, 2017Daimler Paves Way to Potential Spinoffs With Separation Plan
Daimler AG, battered by allegations it colluded with other German carmakers for decades, is studying a legal separation of its businesses, including cars, trucks, vans and financial services, in a move that could pave the way for future spinoffs
Oil Climbs From Seven-Week High on Signs US Stockpiles Plunged
Oil extended gains from the highest close in seven weeks as industry data showed U.S. crude stockpiles plunged, easing a glut.