Gasoline Demand Zooms to Record as Prices at Pump Plummet
U.S. drivers are burning gasoline at a record pace this summer as they take advantage of the lowest prices at the pump in more than a decade.
June 23, 2016Jobless Claims Declined More Than Forecast Last Week
Fewer Americans than forecast filed for unemployment benefits last week, adding to evidence that the labor market is healthy and stable.
June 23, 2016Covenant Lowers Second Quarter Earnings Projections
Covenant Transportation Group Inc. is lowering expectations for earnings in the second-quarter, one day after another large for-hire truckload carrier, Werner Enterprises, made a similar downgrade.
June 22, 2016Telogis to Be Acquired by Verizon
Verizon Communications will buy Telogis Inc. for an undisclosed amount.
June 22, 2016Logistics Industry Growing Slowly as Market Alters Capacity, CSCMP Says
WASHINGTON — The anemic freight market, especially for truckload carriers, that started during the last quarter of 2015 continues well into this year, but market forces are already at work to eliminate excess capacity and create a stronger trucking business climate for the sector’s survivors by the middle of 2017, said industry executives participating in a logistics event.
June 22, 2016Canadian Pacific Railway Outlook Disappoints as Sales Plunge
Canadian Pacific Railway provided a second-quarter profit outlook that fell short of estimates amid a plunge in sales.
June 22, 2016Freight Brokerage Company Loses Tax Case in Pennsylvania’s Highest Court
In light of a Pennsylvania Supreme Court case involving York City and a freight brokerage company, the city and local tax bureau are taking a look to make sure utility companies are paying the taxes they're supposed to.
June 22, 2016Sales of Existing Homes Rise to Highest Level Since 2007
Sales of previously owned homes climbed in May to the highest level in more than nine years, indicating that demand for residential real estate remains robust, National Association of Realtors data showed June 22.
June 22, 2016Home Prices Increased 5.9% in April From Year Earlier
U.S. home prices rose 5.9% in April from a year earlier as job growth spurred competition for a limited number of listings.
June 22, 2016FedEx Earnings Rise to $897 Million
Improved profitability at the Express and Ground units helped FedEx Corp. increase fiscal fourth-quarter net income, excluding one-time costs, by 20% to $897 million, or $3.30 per share excluding one-time costs.
June 21, 2016