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 Logistics and Hewlett Packard to Lay Off 70 Employees in Iowa
XPO Logistics Inc. and Hewlett Packard Co. plan to lay off about 70 employees in Iowa on Oct. 31 after the two companies ended a contract and parted ways.
October 21, 2016DHL to Raise Rates in 2017; Also Wins Two New Contracts
DHL will raise rates in the United States beginning next year, the company announced Oct. 21, while it also won two contracts to haul cars, food and beverages in the United Kingdom and China.
October 21, 2016Volvo Group’s Third-Quarter Earnings, Sales Slide in Weaker Class 8 Market
Volvo Group reported third-quarter earnings and sales fell amid excessive Class 8 inventory in North America as orders and sales both dropped by more than 30%, compared with a very strong market in 2015.
October 21, 2016Fastfrate Investing Nearly $20 Million Into Edmonton, Winnipeg Operations
Consolidated Fastfrate will expand operations in western Canada, spending $10 million to purchase a facility in Edmonton, Alberta, $1.5 million to expand a building in Winnipeg, Manitoba, and $5.5 million to add more than 238 intermodal chassis.
October 21, 2016Proposed Trucking Route Raises Traffic Concerns for Pennsylvania Town
Shell Chemicals Co. will operate a laydown yard in Aliquippa, Pennsylvania, to store materials for the construction of its ethane cracker plant, but two local officials are concerned about the route those trucks could take to get to the facility.
Werner, Forward Air Post Double-Digit Declines in 3Q Profit; Marten, TransForce Report Gains
Several truckload carriers reported earnings Oct. 20, with two U.S. companies posting profits that fell double-digits from a year ago and another eking out a small improvement for the third quarter.
Love’s Travel Stop Expected to Bring New Revenue to Illinois Village
In about seven weeks, work should be wrapped up on a new Love’s Travel Stop and IHOP Express restaurant in South Jacksonville, Illinois, bringing a new revenue source to the village.
House Transportation Chairman Bill Shuster to Debate Challenger Oct. 21
Before voters in Pennsylvania’s 9th Congressional District head to the election booths, they can hear from the incumbent Republican and Democratic challenger who have scheduled a debate Oct. 21.
Circuit Court Rules Against FedEx Freight in Union Case
The 7th Circuit Court of Appeals ruled against FedEx Freight in a case involving the National Labor Relations Board and must recognize a drivers-only bargaining unit in Stockton, California.
October 20, 2016Covenant, Heartland Report Lower Third-Quarter Earnings
Covenant Transportation Group and Heartland Express Inc. reported lower third-quarter earnings, citing factors such as a moderate freight market and excess available capacity.
October 20, 2016