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.
Colorado Files Lawsuit to Block Kroger-Albertsons Merger
Colorado sued to block Kroger Co.’s $24.6 billion acquisition of Albertsons Cos. in court Feb. 14, becoming the second state to challenge the deal.
Portland Port Asks Oregon for $10M to Save Container Service
Facing a $14 million shortfall, the Port of Portland is asking Oregon legislators for a $10 million injection this year to avoid ending container service at Terminal 6.
Volvo Offers Early Look at Redesigned VNL
DUBLIN, Va. — Volvo Trucks North America offered media a sneak preview of its redesigned VNL Class 8 tractor during a ride-and-drive event at its customer center.
Ryder Q4 Profit Slides on Weak Used Truck Prices, Rentals
Profits at Ryder System Inc. fell 39.8% in the fourth quarter of 2023 as weak freight conditions again sapped strength from used vehicle sales prices and rental activity, it said Feb. 14.
FMC: Sanctions Against Yemen Should Be Considered
Federal Maritime Commissioner Carl Bentzel says his office wants the U.S. government to investigate whether economic sanctions are warranted against Yemen.
Medium-Duty Sales Continue Positive Trend
U.S. retail sales for medium-duty trucks increased 10.5% year-over-year in January, marking three months of positive gains, according to data from Wards Intelligence.
Goodyear Q4 Loss Soars on Goodwill, Rationalization Charges
Losses nearly tripled at Goodyear in the fourth quarter of 2023 compared with the year-ago period as the tire manufacturer digested restructuring costs and sales slowed, including in the North American commercial vehicle sector.
Senators Introduce Freight Border Bill
Legislation meant to ensure border security staff remain at commercial ports of entry was recently introduced in the U.S. Senate.
Inflation Tops Forecasts in Blow to Fed Rate-Cut Hopes
U.S. consumer prices jumped at the start of the year, stalling recent disinflation progress and likely delaying any Federal Reserve interest-rate cuts.
Update: Fleets, Suppliers Work to Curb Fuel Card Skimming
Fuel card skimming is on the rise. Read Dan Calabrese's report on what trucking fleets can do to thwart cyber criminals who engage in this high tech theft.
February 13, 2024