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.
After ‘Driver-Out’ Milestone, TuSimple CEO Cheng Lu Outlines Vision for Autonomous Trucking
LAS VEGAS — When TuSimple completed its first “driver-out” autonomous truck run in December, it marked a significant step toward a commercial launch of the company’s driverless truck technology.
US Urges Canada to Use Federal Powers to End Bridge Blockade
TORONTO — The Biden administration urged Prime Minister Justin Trudeau’s government Feb. 10 to use its federal powers to end the truck blockade by Canadians protesting the country’s COVID-19 restrictions, as the bumper-to-bumper demonstration forced auto plants on both sides of the border to shut down or scale back production.
Universal Logistics Reports Record $467M Revenue for Q4
Universal Logistics Holdings reported its highest quarterly operating revenue ever Feb. 10 for the fourth quarter of 2021.
January Class 8 Sales Drop
Class 8 U.S. retail sales in January slipped below 15,000, an 11.8% decline compared with a year earlier, Wards Intelligence reported.
Suppliers Detail Supply Chain Challenges
Leaders of commercial vehicle suppliers weighed in, during recent earnings calls, on challenges to the supply chain and related concerns.
States Get Go-Ahead to Build Electric Car Charging Stations
States are getting the go-ahead to build a nationwide network of electric vehicle charging stations that would place new or upgraded ones every 50 miles along interstate highways as part of the Biden administration’s plan to spur widespread adoption of the zero-emission cars.
Acquisitions Fuel Mullen’s Record Q4 Revenue Growth
Mullen Group Ltd. reported a doubling of profits and record revenue for the fourth quarter.
US Senators Introduce Supply Chain Bill Amid Funding Negotiations
WASHINGTON — To alleviate supply chain woes around the country, two senior senators introduced legislation meant to improve the flow of freight at commercial ports.
Jobless Claims Fell by More Than Forecast Last Week to 223,000
Applications for U.S. state unemployment insurance fell for a third week as COVID-19 cases continue to drop, solidifying the labor market’s strength after an omicron-induced spike in claims.
Inflation Charges Higher With Larger-Than-Forecast Gain
U.S. consumer prices surged in January by more than expected, sending the annual inflation rate to a fresh four-decade high and adding more urgency to the Federal Reserve’s plans to start raising interest rates.