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.
Maersk Suing Evergreen Over 2021 Suez Canal Blockage
Shipping giant A.P. Moeller-Maersk said in an email to The Associated Press that it filed a claim against Evergreen Marine Corp., the vessel’s Japanese owner and its German technical manager in the Danish Maritime and Commercial High Court.
Ritchie CEO Promotes Merits of IAA Deal Ahead of Vote Showdown
Ritchie Bros. Auctioneers Inc. has the potential to double its share price if it takes over IAA Inc., its CEO said as she launches a final push to fend off opposition from some shareholders to the deal.
Love’s Offers Auto Fuel Discount
Love’s Travel Stops is offering a 10-cent-per-gallon discount on gasoline and auto diesel, the company announced Feb. 10.
February 13, 2023Finnish EV Fast-Charger Maker Setting Up Shop in North Carolina
A Finnish maker of fast chargers for electric vehicles is dipping its toe into the U.S. market with a $41 million venture in North Carolina.
TMC Annual Meeting to Spotlight Root Cause Analysis
Root cause analysis will be in the spotlight during the Technology & Maintenance Council Annual Meeting and Transportation Technology Exhibition in Orlando, Fla., on Feb. 27-March 2.
Shippers to Pay $45 Million to Settle 2021 California Oil Spill Lawsuits
LOS ANGELES — Companies linked to two cargo ships accused of damaging a pipeline months before it ruptured have agreed to pay $45 million to settle lawsuits brought by business owners and residents.
U.S. Xpress Reports Revenue Gain, Earnings Loss for Q4
U.S. Xpress Enterprises increased revenue but earnings fell during the fourth quarter of 2022, the company reported Feb. 9.
Renault in Talks With Volvo Trucks About FlexEVan Partnership
Renault SA is in discussions with truck maker Volvo AB to collaborate on the French carmaker’s new electric van project to take on rivals such as Stellantis NV, according to people familiar with the matter.
Universal Logistics Reports Earnings Growth on Revenue Decline for Q4
Universal Logistics Holdings’ earnings grew on a slight decline in revenue during the fourth quarter of 2022, the company reported Feb. 9.
DOT Investigating Elon Musk’s Neuralink Over Hazardous Shipping Claim
The U.S. Department of Transportation is investigating Elon Musk’s brain implant company, Neuralink Corp., after an animal rights group said it obtained emails suggesting the startup did not follow proper procedure when shipping possibly hazardous materials.