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.
FMCSA Issues Emergency Declaration to June 8 Due to Pipeline Cyberattack
The Federal Motor Carrier Safety Administration is providing emergency relief from hours-of-service regulations to motor carriers and drivers assisting operations linked to refined petroleum supply chains in the East Coast in the wake of a cyberattack against Colonial Pipeline.
Colonial Pipeline’s Silence Has Energy Traders Nervous
Traders and shippers are increasingly nervous about the possibility of a shortage of fuel in the eastern U.S. two days after the shutdown of a major pipeline following a cyberattack.
Experts Say Cyberattack on Pipeline Is a Wake-Up Call
NEW YORK — The shutdown of a vital U.S. pipeline because of a ransomware attack stretched into a third day May 9, with the Biden administration saying an “all-hands-on-deck” effort is underway to restore operations and avoid disruptions in gasoline supply.
Ransomware Attack Shuts Down Biggest US Gas Pipeline
Colonial Pipeline is working to restore operations after a cyberattack prompted the company to take its systems offline, threatening the supply of refined petroleum products to gas stations in major cities on the U.S. eastern seaboard.
Minnesota ‘Clean Cars’ Rules Get OK to Move Forward
The administration of Minnesota Gov. Tim Walz and state regulators can adopt new vehicle emission standards without the OK from lawmakers, an administrative law judge ruled May 7.
Americold Reports Q1 Loss, Citing Costs Related to Acquisitions
Americold reported a net loss of $14.2 million, or negative 6 cents a share, for the period ending March 31. The company said much of the loss can be attributed to increased acquisition and integration costs.
Lion to Locate Largest EV Plant in Illinois
The Lion Electric Co., a manufacturer of all-electric medium- and heavy-duty urban vehicles, announced it selected Joliet, Ill., for the construction of its U.S. manufacturing facility, with building to ramp up in the second half of this year.
New Jersey DOT Distributes Over $47 Million for Local Bridges
The New Jersey Department of Transportation announced $47.3 million in grant funding has been awarded to local government agencies to assist with bridge maintenance projects.
Tesla Engineer Says Musk Overstated Tesla Autopilot Capability
One of Tesla Inc.’s engineers told California authorities that CEO Elon Musk overstated the capability of Autopilot, the company’s driver-assistance system, early this year.
Nikola Misses Estimates, Details Additional SEC Inquiry
Nikola Corp. posted a narrower-than-expected loss for its latest quarter as the troubled electric-vehicle startup ramped up testing of its debut battery-electric Class 8 trucks and said securities regulators investigating the company issued an additional subpoena in March.