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.
Biden to Oil Industry: Don’t Raise Prices as Hurricane Nears
President Joe Biden on Sept. 28 warned oil and gas companies against increasing prices for consumers as Hurricane Ian neared landfall along Florida’s southwest coast.
FedEx Reports Declining Q1 FY 2023 Income
FedEx Corp. said as the global economy slows, it is aggressively looking to reduce costs, and that it will raise rates across divisions in January.
Ford Unveils Big, Gas-Fueled Pickup That’s Funding Its EV Future
Ford Motor Co.’s redesigned F-Series Super Duty pickup may lack the sex appeal of the Mustang introduced earlier this month, but this hulking warhorse is critical to funding the automaker’s electric future.
Amazon’s Robotaxi Arm Zoox Coming ‘Sooner Than People Expect’
The CEO of Zoox, Amazon .com Inc.’s self-driving unit, expects autonomous vehicles to be present in cities “sooner than people expect,” but stopped short of saying when her own company’s product would appear on roads.
Average Price Seesaws for a Used Truck in August
The average retail price in August of a used Class 8 vehicle was much higher compared with a year earlier but less than the month before, extending a trend, ACT Research reported.
Rail Union That Rejected Deal Signs New Tentative Agreement
OMAHA, Neb. — A union that rejected its deal with the nation’s freight railroads earlier this month now has a new tentative agreement, but officials cautioned that the contract dispute won’t be fully settled until all 12 rail unions approve their agreements this fall.
West Coast Dockworker Talks Imperiled by Seattle Labor Dispute
A dispute over the assignment of work at a terminal in Seattle is casting a shadow on the outcome of talks to reach a new labor contract between 22,000 dockworkers at 29 U.S. West Coast ports and about 70 employers.
North Dakota Is Creating Its First Combo Freight, Rail Plan
North Dakota is joining a handful of states that are merging their long-term freight and rail plans into a single document to maximize multimodal synergies and streamline federal reporting requirements.
West Coast Ports May Permanently Lose Volume Share to East Coast
For at least one month, August, the Port of New York and New Jersey was the busiest container port in the U.S. as it nudged ahead of longtime leader Port of Los Angeles in total 20-foot-equivalent units processed.
Hurricane Ian May Be Among Costliest Storms in US History
Hurricane Ian is poised to become one of the costliest storms in U.S. history, threatening to slam Florida’s western coastline with 125 mph winds.