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.
Class 8 Orders Tumble 39% in April
Class 8 truck orders tumbled 39% year-over-year in April, reaching a seven-year low for the month, in the midst of a weak freight environment, slumping used-truck prices and overstocked dealer lots, two consulting firms reported.
May 4, 2016Bendix Says Approaching NHTSA Mandate Boosts Sales of Electronic Stability Systems
Bendix Commercial Vehicle Systems said it has sold its 450,000th Electronic Stability Program, a system that automatically deploys a truck’s brakes to protect against loss of control from swerving or a rollover.
May 4, 2016XPO, Estes Agree to Settle Defense Contract Overcharge Suit
XPO Logistics and Estes Express have agreed to pay a total of $13 million to settle overcharge claims in connection with the Defense Transportation Coordination initiative, a federal contract that was meant to lower logistics costs.
May 4, 2016New N.Y. Bridge Paid for by Wall Street Crime
In the past two state budgets, Gov. Andrew Cuomo and the Legislature have allocated $2 billion in bank settlement money to the New York State Thruway Authority to pay for a new $4 billion span and to freeze tolls on the Thruway’s 570-mile system through 2020.
US Trade Deficit Narrows as Imports Slump Most in Seven Years
America’s trade deficit shrank more than forecast in March as imports fell in percentage terms by the most in seven years and outpaced a decline in shipments overseas.
Productivity Decreases for Second Straight Quarter
U.S. worker productivity decreased for a second straight quarter, and employer costs for labor climbed by the most in more than a year.
May 4, 2016XPO First-Quarter Loss Narrows Slightly; Expeditors Profit Declines
XPO Logistics slightly reduced its first-quarter loss, excluding one-time costs, to $9.8 million, or 8 cents per share, while earnings slipped 9% to $96.6 million, or 53 cents, as airfreight and ocean forwarding results weakened.
Vigillo Partners With State Trucking Associations on Crash Review Program
Vigillo, a provider of data-mining software, announced that it is offering a discounted rate for its crash review program to members of participating state trucking associations.
May 3, 2016Cummins' First-Quarter Earnings, Sales Decline
Independent engine maker Cummins Inc. posted diminished first-quarter financial results with declines in sales and net income relative to the same time in 2015, and the North American heavy-duty truck market listed as a contributing factor.
Why ArcBest's Robert Young Thinks Retirement is Right
ArcBest Corp.'s future is "bright" and the company is "in good hands," retiring board chairman Robert A. Young III said recently at the Fort Smith, Arkansas-based corporation's 2016 shareholders' meeting.