Business

Applications for U.S. state unemployment benefits unexpectedly posted the first back-to-back weekly increase since July, while Americans’ incomes and savings fell last month.

Traton SE is stepping up expansion plans in China after Volkswagen AG’s truck division hammered out a deal to acquire Navistar International Corp. to boost its presence in North America.

Oil extended gains, trading at its highest level since March, on mounting optimism that recent breakthroughs on a COVID-19 vaccine will lead to a swift recovery in global energy demand next year.

FedEx Corp. and UPS Inc. are running into a shortage of delivery vans, prompting a surprise cost squeeze that’s cutting into profits during a record surge in package volumes.

Economic indicators suggest the trucking industry could be poised for growth in 2021, after the coronavirus pandemic caused a topsy-turvy year in 2020 marked by unpredictable demand and continued uncertainty in the driver pool.

UPS Inc. has set up its own dry ice production and will provide portable, super-cold freezers to its health care customers as the courier prepares for the massive rollout of COVID-19 vaccines.

Strehl purchased the assets of the semi-trailer tail-end drag reduction systems maker Rocketail, the company announced Nov. 23.

Costs associated with trucking operations have decreased, according to the American Transportation Research Institute.

With major truck manufacturers pushing into factory-built electric vehicles, 2021 is poised to be the year for the technology to transition from pilot testing to commercialization.

Oil reclaimed heights not seen since the pandemic shocked markets in the spring, with the start of the U.S. presidential transition and improved vaccine prospects infusing optimism across markets.