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.
Labor, Maritime Leaders Discuss Expanded Hours at West Coast Ports
Negotiators with the International Longshore and Warehouse Union and the Pacific Maritime Association are discussing a plan to allow all West Coast marine terminals to open an hour earlier, at 6 a.m., under what’s called “a double flex.”
China’s Chipmaking Power Grows Despite US Effort to Counter It
China’s semiconductor industry is showing signs of flourishing even in the face of Biden administration efforts to counter its growth, raising alarm bells in Washington.
June 13, 2022EV Startup Electric Last Mile Files Chapter 7 Bankruptcy
Electric Last Mile Solutions Inc. filed for Chapter 7 bankruptcy in Delaware, making it the first of the electric-vehicle startups that merged with special purpose acquisition companies to go out of business amid the recent market slump.
US Class 8 Sales in May Climb Past 20,000, Adding to Recent Momentum
U.S. Class 8 retail sales in May rose 13.9% compared with a year earlier to just clear 20,000, Wards Intelligence reported.
Eaton Cummins Joint Venture Offers Transmission Selector Tool
Eaton Cummins Automated Transmission Technologies unveiled a new online selector tool, which helps users choose the optimal transmission from its portfolio.
June 10, 2022FHWA Opens Applications for $2.36 Billion to Upgrade Bridges
The Federal Highway Administration has issued a $2.36 billion funding notice to open applications for states and local officials to apply for money to improve bridge projects across the nation.
Startup Hydron Plans Autonomous Longhaul Trucks With Hydrogen Fuel Cells
The co-founder of San Diego-based autonomous driving company TuSimple, Mo Chen, announced he started a new company called Hydron to bring to market Class 8 hydrogen-powered trucks equipped with Level 4 autonomous driving technology.
US Inflation Unexpectedly Accelerates to 40-Year High of 8.6%
U.S. inflation hit a fresh 40-year high in May, unexpectedly accelerating in a broad advance that pressures the Federal Reserve to extend an aggressive series of interest-rate hikes and adds to political problems for the White House and Democrats.
Biden to Visit Busiest US Port as Union Talks Raise Risk of a New Logjam
President Joe Biden’s administration is trying to avert another inflation-spawning logjam at the nation’s busiest seaport, just as the economy is starting to recover from the last one.
UST Select Names Betty Marek President
Logistics company UST Select announced it named Betty Marek president.
June 9, 2022