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.
Cummins Inc. Boosts Quarterly Dividend to Stockholders
The board of directors of Cummins Inc. approved a 5.1% increase in the quarterly dividend July 12, hiking the rate from 97.5 cents per share to $1.025 for all stockholders as of Aug. 22.
July 15, 2016Consumer Sentiment Drops High Earners Shaken by Brexit
Consumer confidence in the United States dropped in July as U.K.’s vote to leave the European Union flustered high-income earners.
Teletrac Navman Names Ver Eecke as President
Renaat Ver Eecke, an executive at Navman for more than a decade, has been named the new president of Teletrac Navman.
July 15, 2016Manufacturing Gains More Than Expected in June
Manufacturing in the United States last month posted the strongest advance since January, helped by automobile production and a sign domestic demand is improving.
Retail Sales Climb More Than Forecast in Broad Advance
Sales at U.S. retailers rose more than forecast last month in a broad advance that shows consumers delivered for the economy in the second quarter.
July 15, 2016Consumer Prices Increased in June as Fuel, Rents Climbed
The cost of living in the U.S. rose in June, propelled by a rebound in fuel prices and sustained gains in rents that are driving inflation closer to the Federal Reserve’s goal.
Ports America Said to Explore Sale Valuing Company at $1 Billion
Ports America, the closely held maritime terminal operator, is exploring a sale, people with knowledge of the matter said.
California Port Cargo Dips Slightly in June
International container traffic through California ports dipped slightly overall in June as global freight flows softened.
July 14, 2016SAF Offers $495 Million for Haldex in Truck-Parts Combination
SAF-Holland SA has offered $495 million (4.2 billion kronor) to buy Haldex AB, a combination of truckmaking suppliers that could help match mechanical parts with sensors and electronic components as big rigs increasingly link up to the internet.
July 14, 2016CSX Net Income Falls 20%, Starts Second Quarter on Down Note
CSX Corp. began the second-quarter freight transport earnings reporting season by announcing that net income fell 20% to $445 million, or 47 cents per share, dragged down by a 34% reduction in coal revenue.
July 14, 2016