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.
Tesla, Amazon Stock Splits Trigger Retail Stampede
Recent proposals from Alphabet Inc., Amazon.com Inc. and Tesla Inc. tell us one thing: Stock splits can spark big rallies as retail traders pile in.
March 29, 2022Volvo’s New CEO Says Carmaker Must Smarten Up on Software
Volvo Car AB needs to be more in control of the software it develops and deploys in its vehicles, the automaker’s new CEO said.
Fred Smith Steps Down as FedEx CEO, Remains Executive Chairman
FedEx Corp. founder Fred Smith is stepping down as CEO of the company and transferring the leadership post to Raj Subramaniam, who currently serves as president and COO, the company announced March 28. Smith will remain as executive chairman.
Behind the Efforts to Free the Ever Forward
The Ever Forward, a 1,095-foot cargo carrier with more than 4,000 full shipping containers, is the largest ship to have ever run aground in the Chesapeake Bay, and freeing it is an arduous and cumbersome process. The first attempt to refloat the ship will begin at noon March 29.
Becker Logistics Acquires Trek Freight Services
Becker Logistics has acquired third-party logistics company Trek Freight Services, it was announced March 28.
March 28, 2022US Exports More Diesel as Global Shortage Fuels Competition
The U.S. is exporting more diesel than it has in years as buyers in Europe and Latin America vie to secure supplies that have tightened since Russia’s invasion of Ukraine.
Volta Stock Plunges After Founders Resign
Shares of Volta Inc. plunged to all-time lows after the electric vehicle charging company announced the abrupt departures of two of its top executives, both of them founders of the firm.
FMCSA Drops Two CDL Streamlining Proposals
Federal trucking regulators have withdrawn two proposals intended to streamline credentialing and testing processes for aspiring truck drivers to obtain their commercial driver licenses.
Amazon Stock Rally Erases Losses for the Year
Amazon .com Inc. shares rallied March 28, with the e-commerce giant becoming the first of megacap tech stocks to erase losses for the year.
A World That’s More Expensive Begins to Reduce Demand
Prices for some of the world’s most pivotal products — foods, fuels, plastics, metals — are spiking beyond what many buyers can afford. That’s forcing consumers to cut back and, if the trend grows, may tip economies already buffeted by pandemic and war back into recession.
March 28, 2022