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.
Amazon Delivery Rival Pandion Secures Funding for Expansion
E-commerce logistics startup Pandion — which helps retailers like Saks Fifth Avenue compete with Amazon’s delivery — has secured $41.5 million in fresh funds to expand its operation.
FedEx Plans $5 Billion Buyback of Shares
FedEx Corp. plans to buy back $5 billion of its shares as cost-cutting efforts have helped boost the courier’s profits as fiscal third-quarter earnings beat expectations.
March 21, 2024Uber Freight Bolsters Drop-and-Hook Solution Nationwide
Uber Freight has scaled up its drop-and-hook capacity solution nationally with new freight network optimization capabilities, the company announced March 21.
Drought Threatens to Snarl Mississippi River Traffic Again
The Mississippi River is at risk of bottlenecks for a third straight year as warm, dry spring weather and low winter snowpack limit the amount of water feeding into it.
Big Grocers Profited From Pandemic More Than Smaller Rivals
Large grocery retailers’ annual profits rose during the COVID-19 pandemic and have remained elevated since, which warrants deeper scrutiny, says a report by the Federal Trade Commission.
GOP Lawmaker Calls for Contractor Rule Suspension
Rep. Kevin Kiley is among a contingent of lawmakers advancing a congressional maneuver that would pause enforcement of a federal employee classification rule that affects truck drivers.
Pittsburgh Tech Investment Soars, Spurred by AV Firms
Pittsburgh tech companies raised just over $3 billion in funding last year, led by landmark investments in autonomous vehicle startups like Aurora and Stack AV.
February Trailer Orders Fall 21% From Last Year
U.S. trailer orders in February declined from the prior year but rose sequentially, according to ACT Research.
DoorDash Uses Alphabet’s Wing to Test Drone Delivery in US
DoorDash is testing drone delivery in the U.S. after expanding its partnership with Alphabet’s autonomous drone delivery service Wing.
Fla. Bill Tackling Predatory Towing Moves to Governor’s Desk
A proposed law with sweeping changes to curb predatory towing practices in Florida has moved from the state Legislature to Gov. Ron DeSantis' desk.