Business

About Business News...

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.

Business

Kenworth T680 and T880 Now Mainstays at Chillicothe Plant Undergoing Expansion

CHILLICOTHE, Ohio - Kenworth Truck Co.’s two latest models, the T680 and T880, launched in 2012 and 2013, respectively, now account for 90% of production at its manufacturing plant here, replacing earlier legacy models, said Kurt Swihart, director of marketing at Kenworth Truck Co.

Roger Gilroy | Senior Reporter
May 19, 2016
Government, Business

Expert Predicts Taxes, Fees on Trucks Will Account for More of Highway Trust Fund

WASHINGTON — A higher percentage of federal Highway Trust Fund dollars will come from diesel fuel taxes and other fees on trucks as future government rules require ever-better gas mileage for passenger cars. That was the message from Joung Lee of the American Association of State Highway and Transportation Officials during an Infrastructure Week session on May 19.

David Elfin | Staff Reporter
May 19, 2016
Business, Technology

Energy Group Calls for Truck Productivity Changes, Greater Support for Nat Gas, Autonomous Vehicles

WASHINGTON — The Energy Security Leadership Council, co-chaired by FedEx Corp. founder Fred Smith, called on the United States to take steps to improve truck productivity, offer alternative fuel credits and promote development of autonomous and platooning technologies.

Neil Abt | Editorial Director
May 19, 2016
Business, Logistics

Container Shipping Firms' Costs Soar on New Fuel Rules, New Report Shows

COPENHAGEN — Container shipping firms' annual costs have risen by a total $500 million due to new sulfur emissions regulations that have forced vessels to use higher-cost fuel, the Organization for Economic Co-operation and Development said in a May 19 report.

Ole Mikkelsen | Reuters
May 19, 2016
Business, Technology

Port of Oakland App Tells Truck Drivers Wait Times

An old-line business, the Port of Oakland, is using one of the world's newest technologies, an app that helps truckers cope with busy cargo gates at the shipping hub, the port said May 18.

George Avalos | The (San Jose) Mercury News
May 19, 2016
Business

FedEx Sets May 25 for Completion of TNT Acquisition

FedEx Corp. and TNT N.V., the Dutch package and freight operator, announced their $4.9 billion combination will be completed on May 25, a move that represents the largest acquisition ever for the U.S. company.

Rip Watson | Special to Transport Topics
May 19, 2016
Business, Fuel

Modest Biofuel Quota for 2017 Blasted by Producers

The Obama administration tried to strike a cautious compromise May 18 in setting quotas for a controversial renewable fuels program that pits Big Oil against Corn Belt interests.

May 19, 2016
Business

Jobless Claims Dropped Last Week From a One-Year High

Filings for U.S. unemployment benefits declined last week from a more than one-year high, as a plunge in New York returned claims to a level consistent with a firm labor market.

Michelle Jamrisko | Bloomberg News
May 19, 2016
Business

FedEx to Open Distribution Center in New Mexico

FedEx Ground is moving dirt around on a 215,000-square-foot distribution center at Santa Teresa, New Mexico's newest industrial development, Westpark. The $20 million center is expected to be operating in the first quarter of next year, according to sources familiar with the project.

Lauren Villagran | Albuquerque (N.M.) Journal
May 19, 2016
Government, Business

Puerto Rico Halts Toll-Road Revenue Transfer to Save Cash

Puerto Rico Gov. Alejandro Garcia Padilla declared a state of emergency for the island’s Highways and Transportation Authority, suspending the transfer of toll-road revenue to bondholders and imposing a stay on legal claims.

May 18, 2016