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.
Alphabet’s Waymo Raises $2.5 Billion After Key Departures
Waymo, Alphabet Inc.’s self-driving car unit, said it raised $2.5 billion in a recent funding round to help advance its technology and replace a management team rocked by departures.
Sen. Manchin Cites ‘Grave Concerns’ About US ‘Going to the EV’
WASHINGTON — U.S. Sen. Joe Manchin, a conservative Democrat whose vote is key to any infrastructure deal in the narrowly divided Senate, expressed “grave concerns” June 15 about the Biden administration’s drive to boost adoption of electric vehicles.
Democrats Prepare Go-It-Alone Approach on Infrastructure
WASHINGTON — Patience running thin, Democratic leaders are laying the groundwork for a go-it-alone approach on President Joe Biden’s big jobs and families infrastructure plans even as the White House continues negotiating with Republicans on a much more scaled-back $1 trillion proposal.
Carriers, Independent Contractors Oppose California AB 5 Contractor Law
Trade organizations representing motor carriers and independent owner-operators alike say they strongly oppose a new California law that aims to reclassify large numbers of independent contractors as company employees, according to new documents filed in a recent appellate court challenge to the law.
GM to Spend More on Electric Vehicles, Add Battery Plants
DETROIT — General Motors will raise its spending on electric and autonomous vehicles and add two U.S. battery factories as it gambles that consumers will eagerly switch from gasoline to the new technology.
Chinese Trucking Startup Seeks $1.6 Billion in US IPO
Full Truck Alliance Co., an Uber-like trucking startup, is looking to raise as much as $1.57 billion in an initial public offering, which would make it one of the biggest U.S. listings by a Chinese company this year.
May Medium-Duty Sales Climb 36% From 2020 Period
U.S. retail sales in May for Classes 4-7 improved 36% compared with a year earlier, as all but the heaviest class showed strong gains, WardsAuto .com reported.
Lordstown Motors Jumps on Forecast for 11 Months of Cash on Hand
Lordstown Motors Corp. jumped after saying it has enough money to make its battery-powered trucks through May of next year, paring a record decline the previous day following the departure of two top executives.
Truck Parking Information Needs to Be Functional, Accurate, ATRI Research Says
Effectively addressing the truck parking capacity problem will depend on standardization and accuracy, according to a recent white paper from the American Transportation Research Institute.
Dems, White House Give Infrastructure Compromise One Last Chance
The White House is giving bipartisan talks on a compromise infrastructure package another week to 10 days to bear fruit and is prepared to endorse a Democrat-only route if that effort fails, according to House lawmakers.
June 15, 2021