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.
Weaker Commercial Truck Market Clips Earnings at Dana Inc.
Commercial vehicle supplier Dana Inc. reported third-quarter earnings of $57 million, or 39 cents per share, compared with $119 million, or 75 cents, a year earlier, which reflected a $100 million tax benefit.
October 20, 2016Omnitek to Develop Natural-Gas Engines for Use in Europe
Omnitek Engineering Corp. said it signed a contract with a European customer to develop a heavy-duty 13-liter natural-gas engine for Class 8 trucks and certify the engine to EURO 6 emissions standards, utilizing its patented technology.
October 20, 2016Union Pacific Net Income Slips 13% as Freight Volume Declines
Union Pacific Corp. net income slipped 13% to $1.13 billion, or $1.36 per share, hurt by lower intermodal and other freight volume and weaker pricing.
October 20, 2016LiveOnWeb Replay: Master Class on Autonomous Trucking
In LiveOnWeb's “Master Class on Autonomous Trucking,” Bendix Commercial Vehicle Systems' Fred Andersky joined TT's Neil Abt and Seth Clevenger for a high-level look at platooning, automation and autonomous vehicles, featuring answers to your questions. Watch the replay.
October 20, 2016EIV Capital Invests $20 Million in Gazelle Transportation
Houston-based investment firm EIV Capital has invested $20 million in Gazelle Transportation, a company based in Bakersfield, California, that provides crude oil transportation, water and waste hauling and portable storage tank rentals primarily within California.
October 20, 2016Bankrupt South Korean Shipping Giant Hanjin to Lay Off 400 Workers
SEOUL — Bankrupt South Korean shipping giant Hanjin said Oct. 20 it plans to lay off 400 workers — more than half of its land-based staff — as it attempts to right its corporate ship.
Sales of Existing Homes Increase More Than Forecast
Sales of previously owned U.S. homes increased more than projected in September, showing residential real estate continues to contribute modestly to growth, National Association of Realtors data showed Oct. 20.
Jobless Claims Rise After Falling to Four-Decade Low
Filings for U.S. unemployment benefits rose last week by the most since July, after spending several weeks at or near a four-decade low.
Landstar Third-Quarter Earnings Decline 7.8%
Landstar System Inc. reported third-quarter net income fell 7.8% to $36.3 million, or 86 cents per share, hurt by a drop in flatbed freight loads and revenue
October 19, 2016Hanjin Bankruptcy Hurts Long Beach, But Doesn't Impact Other US Ports in September
The Hanjin Shipping Co. bankruptcy hit the Port of Long Beach hard, but spared most others from year-over-year losses in ocean container traffic, based on port statistics released for September.