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.
Senate Commerce Committee Introduces Maritime Administration Reauthorization
Legislation to update operations at the Maritime Administration was recently introduced by the leaders of the Senate Commerce Committee.
VMRS Coding Evolves With the Digital Age
WASHINGTON — American Trucking Associations is seeing its standard maintenance coding system rapidly evolve to meet the needs of changing technologies.
Caterpillar Leaves Illinois to Move to Texas
Caterpillar Inc., the producer of iconic yellow construction and mining equipment, is moving its headquarters to the Dallas-Fort Worth area, effectively ending its century-long history calling the state of Illinois home.
May Classes 4-7 Retail Sales Drop Below 17,000
U.S. Classes 4-7 retail sales in May sank 16.3% compared with a year earlier to just below 17,000, Wards Intelligence reported.
Gig Work Vote in Massachusetts Blocked by Court
A Massachusetts ballot initiative bankrolled by Uber Technologies Inc., Lyft Inc., and DoorDash Inc. to cement their workers’ status as independent contractors will not move forward, the state’s Supreme Judicial Court ruled.
Ford Halts Sales of Mustang Mach-E Over Defect
Ford Motor Co. has told dealers to temporarily halt sales of the Mustang Mach-E over a potential safety defect, a setback for the carmaker as it tries to fortify its position as a leader in electric vehicles.
FedEx Boosts Dividend, Shakes Up Board
FedEx Corp. boosted its dividend and announced board changes in coordination with activist investor D.E. Shaw & Co., shaking up the courier just two weeks into the tenure of new CEO Raj Subramaniam.
Attorneys Spar in Closing Statements of RhodeWorks Tolling Trial
After more than two weeks of testimony, a federal tolling trial ended June 13 with an attorney for American Trucking Associations asking a judge to find the state of Rhode Island’s trucks-only “RhodeWorks” tolling program unconstitutional.
West Coast Ports Strike Unlikely Even if No Deal Is Reached by July
Employers and the union representing more than 22,000 dockworkers at 30 U.S. ports on the West Coast are unlikely to reach a wage deal by the time the current contract expires next month, but neither side foresees disruptions that would hobble supply chains.
Blink Charging Acquires SemaConnect to Boost EV Infrastructure
Electric vehicle charging business Blink Charging Co. has agreed to acquire SemaConnect Inc., an electric vehicle infrastructure company, for $200 million in cash and stock, according to a statement June 14, confirming a Bloomberg News report.