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.
Canadian Provinces Team With North Dakota to Vaccinate Cross-Border Truckers
Leaders from North Dakota and two Canadian provinces have reached agreements to offer COVID-19 vaccinations to Canada-based truckers who cross the border to deliver goods.
Raimondo Calls for Surge in Chip Production
Commerce Secretary Gina Raimondo called for a major increase in U.S. production capacity for computer chips whose current shortages are causing global manufacturing bottlenecks, saying the push could create jobs and wean the nation off over-dependence on China and Taiwan.
California Trucking Association to Appeal AB 5 Decision
The California Trucking Association will appeal a court decision on the state’s independent contractor law that many in trucking deem unfavorable to the industry, CTA CEO Shawn Yadon said on May 3.
UPS Driver Delivers Help to Those in Need in Louisiana
UPS driver James Joseph’s philosophy sounds a lot like a slogan his company once had: What can “Big Brown” do for you? When he’s not delivering packages, Joseph has helped deliver air conditioners and fans to people during sweltering weather, water and supplies to hurricane-stricken areas and, most recently, masks and hand sanitizer to schools across Louisiana.
TravelCenters Reduces Net Loss in Q1; Revenue Rises
TravelCenters of America Inc. reduced its net loss and increased revenue in the first quarter compared with a year earlier.
Shortage of Truck Drivers Concerns California Ag Producers
A worsening shortage of truck drivers is raising concerns among California farmers that, unless a solution emerges soon, there might not be enough hauling capacity to bring this year’s harvest to market.
Eaton Reports Q1 Stronger Than Expected
Power management company Eaton Corp. reported higher net income and flat revenue in the first quarter as businesses continue to recover from the pandemic.
ArcBest Reports Record Revenue for Q1 2021
ArcBest saw earnings increase and record revenue during the first quarter, the company reported May 4.
Meritor Reports Higher Revenue, Lower Income in FY Q2
Meritor Inc. reported higher fiscal second-quarter revenue and lower net income reflecting, respectively, strong truck production and a previous distribution agreement termination.
Tesla Told to Provide Documents Involving Musk Compensation
DOVER, Del. — A Delaware judge on May 3 ordered lawyers representing Tesla Inc. directors to turn over certain communications that CEO Elon Musk may have shared with the company’s top in-house attorneys before the board approved a compensation plan in 2018 that could net Musk more than $50 billion.