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.
I-95 Section in Philadelphia Could Reopen by End of June
PHILADELPHIA — The collapsed stretch of Interstate 95 in Philadelphia will reopen within two weeks, Pennsylvania’s governor said June 17 after joining President Joe Biden on a tour.
May Trailer Orders Decrease 54% Year-Over-Year
U.S. trailer orders more than halved in May compared with a year ago to an estimated 9,100 units, according to data released by ACT Research.
Rail Industry Sues to Block CARB’s Emission Rules
SACRAMENTO, Calif. — The railroad industry on June 16 sued to block new environmental rules in California, saying the technology for zero-emission locomotives won’t be ready on time.
Nikola Short Sellers Take a Hit on EV Maker’s Recent Rally
Nikola Corp. shares have nearly doubled this week in a rally that’s eating into paper profits for traders betting against the EV maker and setting them up for a short squeeze.
Grid Planning Must Accommodate Electric Trucks
Electrification of longhaul trucking in the U.S., and globally, will require power-grid operators and regulators to change their planning processes.
Michigan Welcomes RXO to Ann Arbor
Michigan state officials are enthusiastic about 140 new jobs and a $2.35 million expansion in Ann Arbor by RXO Corporate Solutions to increase its brokerage presence.
UPS Workers Give Union Leaders Option to Call Strike
UPS Inc.’s unionized workers voted in favor of giving Teamsters leaders the option to call a strike as the two sides continue talks to renew a five-year labor contract.
Relay Inks Digital Fuel Payment Deal With Pilot
Relay Payments’ digitized diesel payment platform is set to be available at Pilot Co.’s more than 800 truck stops, the companies said June 14.
June 16, 2023FMCSA Issues Guidance on Brokerage, Dispatch Service Terms
The Federal Motor Carrier Safety Administration has issued final regulatory guidance on its definitions of ‘‘broker’’ and ‘‘bona fide agents.”
Nikola Needs New Leadership, Says Trevor Milton
Nikola Corp. founder Trevor Milton called for leadership change at the electric truck maker and urged shareholders to vote against upcoming company-backed proposals.