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.
Feds Award Grants for Freight Waterways
To alleviate bottlenecks along the country’s major supply chains, the Maritime Administration recently awarded nearly $39 million in grants to a dozen marine highway projects.
PepsiCo Lifts Outlook as Drink, Snack Sales Buck Inflation
PepsiCo Inc. said its playbook for battling inflation is still working, with price hikes fueling double-digit gains in sales despite lower volumes of snack purchases.
US Chip Suppliers Pull Back From China’s Yangtze Memory
American suppliers are beginning to withdraw staff from one of China’s leading chip companies in the wake of new U.S. regulations, a blow to Communist Party efforts to build a vibrant domestic technology industry.
October 12, 2022US Producer Price Inflation Eases to Still-High 8.5%
WASHINGTON — Inflation at the wholesale level rose 8.5% in September from a year earlier, the third straight decline though costs remain at painfully high levels.
South Carolina Seeks I-95 Bridge Replacement Funds
The South Carolina Department of Transportation has applied for a $161 million federal grant to replace the Interstate 95 bridges over Lake Marion.
California Strengthens Alliances for Transportation Electrification
The governor of California is strengthening a clear energy partnership with two neighboring states and British Columbia.
Temporary Repairs to Sanibel Causeway Allow Trucks to Reach Island
A slow march of utility trucks headed to Sanibel Island near Fort Myers, Fla., on Oct. 11 following temporary repairs to the Sanibel Causeway, which was broken in three locations during Hurricane Ian.
Honda, LG to Build $3.5 Billion Battery Plant, Hire 2,200 in Ohio
COLUMBUS, Ohio — Honda says it will build a $3.5 billion joint-venture battery factory in rural southern Ohio and hire 2,200 people to staff it as the company starts to turn the state into its North American electric vehicle hub.
October 11, 2022First the Mississippi, Now the Ohio River Faces a Barge Crisis
The Mississippi River isn’t out of the woods as falling water levels along its major tributaries threaten to deepen a crisis on the U.S.’s main artery for moving vital products. And now the Ohio River is seeing closures at multiple locations due to groundings and dredging work.
October 11, 2022XPO Board of Directors Approves RXO Spinoff
XPO Logistics Inc. received board approval to spin off its technology-based brokered operations into a stand-alone business, the company announced Oct. 10.