Fed Lifts Rate by Quarter-Point, Signals More Hikes Ahead
WASHINGTON — The Federal Reserve extended its fight against high inflation on Feb. 1 by raising its key interest rate by a quarter-point, its eighth hike since March.
February 1, 2023Rivian Cuts 6% of Workforce, Spares Blue Collar Workers
Rivian Automotive Inc. is reducing its headcount by 6%, but sparing assembly line workers at its sole operational plant in Normal, Ill., from the cutbacks.
February 1, 2023FedEx to Cut Management Jobs by More Than 10%
FedEx Corp. is cutting global officer and director jobs by more than 10%, the courier’s latest cost-saving measure as economic concerns and waning e-commerce weigh on demand for package delivery.
February 1, 2023Colorado Renews Emergency Order for Fuel Transport
An ongoing refinery shutdown has prompted Colorado’s governor to extend a fuel supply chain emergency order enabling commercial vehicles to carry heavier fuel loads on state highways for another month.
February 1, 2023ATA Announces 2023 Law Enforcement Advisory Board Members
American Trucking Associations has unveiled its 2023 Law Enforcement Advisory Board, a panel first formed in 2021 to tackle a variety of mutual issues and strengthen relationships between trucking and law enforcement organizations nationwide.
February 1, 2023Daimler Unveils High-Efficiency SuperTruck II
LAS VEGAS — Daimler Truck North America has unveiled its SuperTruck II high-efficiency tractor-trailer combination, featuring freight efficiency gains that the company said are built around equipment and components central to real-world tractor-trailer operation.
February 1, 2023Factory Gauge Falls to Lowest Since May 2020
The U.S. manufacturing downturn deepened in January, fueled by a further pullback in orders and factory production.
February 1, 2023Inland Corn Belt Ports Seek Infrastructure Funds, More Freight
Increasing freight capacity and attracting more infrastructure investments are likely outcomes of a recent federal designation expanding the inland Corn Belt Ports to span five Midwestern states.
February 1, 2023Tesla Investors Lost $12 Billion After Musk Tweet, Experts Tell Jury
Tesla Inc. investors lost $12 billion over 10 days as a result of Elon Musk’s famous tweet in 2018 that he had “funding secured” to take the company private, a witness testified at a trial over the CEO’s liability.
February 1, 2023Three Louisiana Women Sentenced in Staged Accident in New Orleans
Three southeastern Louisiana residents have been sentenced for their role in a 2017 staged accident in New Orleans with a tractor-trailer.
February 1, 2023