Business

The U.S. economy grew at a modest to moderate pace through mid-November while price hikes were widespread amid supply chain disruptions and labor shortages, the Federal Reserve said.

General Motors is forming a joint venture with Posco Chemical of South Korea to build a North American battery materials plant as it brings more steps in the electric vehicle supply chain under its umbrella.

The Federal Motor Carrier Safety Administration extended regulatory waivers related to truckers’ allowable work time, citing public health concerns.

Werner Enterprises and TFI International completed separate acquisitions Nov. 29 to bolster their operations.

The average retail price for a used Class 8 vehicle in October climbed a notch higher to set a record, overtaking the previous peak set in September, ACT Research reported.

Shipping backups at the adjacent ports of Los Angeles and Long Beach are having a significant impact on the Port of Oakland, nearly 400 miles up the California coast.

A.P. Moller-Maersk A/S is giving $1,000 to each of its roughly 80,000 employees as the world’s largest shipping company heads for record profits this year.

U.S. companies added workers at a healthy clip in November, suggesting employers continue to chip away at filling a near-record number of open positions.

South Korea’s exports are on track to post an annual record, buoyed by year-end holiday demand and higher product prices even as supply chain bottlenecks continued to pressure manufacturers.

A growing cohort of smaller companies that survived the cold depths of the pandemic say now they’re in danger because the economy is too hot.