Government

Volvo Group will reduce its white-collar workforce by 4,100 starting in the second half of the year as it confronts lower demand during the novel coronavirus pandemic.

Three OPEC members identified by their peers as failing to bring production down to target levels in May appear to have begun improving their compliance in June, if lower exports are any indication. But for the biggest overproducer, Iraq, that first step is a small one.

Military officials have pulled back a sweeping multibillion-dollar contract intended to address military families’ long-standing problems with delays and damaged goods during their roughly 400,000 annual moves to assignments around the globe.

The Iowa Transportation Commission recently approved the state’s transportation improvement program.

Federal Reserve Chairman Jerome Powell said the U.S. economy faces a deep downturn with “significant uncertainty” about the timing and strength of a recovery.

U.S. retail sales jumped in May by the most on record and double forecasts, regaining more ground than expected after unprecedented drops the prior two months as states allowed more merchants to reopen.

The national average price of diesel has increased seven-tenths of a cent to $2.403, according to the Energy Information Administration.

The U.S. Department of Transportation has launched a program to increase transparency and inform members of the public about automated vehicle technologies.

The Federal Reserve said June 15 that it will begin buying individual corporate bonds under its Secondary Market Corporate Credit Facility, an emergency lending program that to date has purchased only exchange-traded funds.

Transportation Secretary Elaine Chao says truckers continue to serve on the front line in the battle against the COVID-19 pandemic even as more of the economy is beginning to reopen. Here's your Capitol Agenda look at the week ahead for trucking on Capitol Hill.