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

Wright Express Reports Higher 3Q Profit

Wright Express Corp.’s third-quarter profit grew to $48 million, or $1.23 per share, from $21 million, or 53 cents, a year earlier.

November 10, 2011
Business, Fuel, Government

U.S. Trade Deficit Narrows; Exports Hit Record

The U.S. trade deficit narrowed by 4% in September as exports climbed to a record high, the Commerce Department said Thursday.

November 10, 2011
Business

Jobless Claims Decline to Lowest Level in Seven Months

Initial jobless claims decreased by 10,000 last week to 390,000, the lowest level in seven months, the Labor Department said Thursday.

November 10, 2011
Business, Logistics

TNT Express’ 3Q Profit Declines

TNT Express NV, Europe’s second largest post company, said its third-quarter earnings fell to about $7 million, from about $19 million a year earlier, Bloomberg reported.

November 10, 2011
Business, Logistics

UPS, FedEx Gear Up for Holidays

UPS Inc. said it expects to hire 55,000 temporary workers and FedEx Corp. 20,000 workers for the holiday season.

November 10, 2011
Business

Senate Committee Approves Two-Year Highway Bill

A key Senate committee Wednesday unanimously approved a two-year highway reauthorization bill, though there is still no plan on how to fully fund the measure.

Michele Fuetsch | Staff Reporter
November 9, 2011
Business

Volkswagen Expands Trucking Reach With Majority Stake in Rival MAN

Volkswagen AG said Wednesday it has completed purchase of a majority stake of fellow German truck producer MAN SE, opening the way to becoming “a new top player on the global truck market.”

Frederick Kiel | Staff Reporter
November 9, 2011
Business

DOT Freight Transport Index Rises 4.4%

The Department of Transportation’s freight transportation services index rose 4.4% in September from a year ago to its highest level in more than three years, DOT said Wednesday.

November 9, 2011
Business

Volvo Expects Reorganization of Truck Business to Boost Margin

Volvo AB said its operating margin should eventually grow by 3% as a result of the reorganization of its truck division, Bloomberg reported.

November 9, 2011
Business, Fuel

DOE Boosts Diesel Price Forecast 4¢ to $3.84 a Gallon; Sees Oil Rising to $100 a Barrel

The Department of Energy raised its 2011 diesel price outlook by 4 cents this year and 6 cents in 2012, in tandem with a higher crude oil forecast of $100 per barrel.

November 9, 2011