Leaders of Jack Cooper Holdings Corp., North America’s largest auto hauler, are approaching completion of intense negotiations to reorganize a major portion of the company’s debt.

Anemic shipping volumes and weak pricing for transportation carriers in 2016 combined to push down total U.S. business spending on logistics, both in dollars and as a percentage of gross domestic product.

FedEx Corp. will open a new distribution center outside South Dayton, Ohio, in a couple of weeks, a company spokesman confirmed with Transport Topics.

A new Schneider facility opened June 22 in Phoenix. A truckload, intermodal and logistics provider, Schneider’s investment indicates its response to “industry demand by significantly investing in this growing region,” according to a press release.

WASHINGTON — Anemic shipping volumes combined with weak pricing for transportation carriers in 2016 to push down total U.S. business spending on logistics, both in dollars and as a percentage of gross domestic product.

FedEx Corp. reported profits grew year-over-year, increasing 65% over the last 12 months and easily beating the Bloomberg News consensus forecast on both an annual and quarterly basis.

Truck tonnage rose 4.8% year-over-year in May, according to the monthly American Trucking Associations Tonnage Index, the largest gain since November 2016, echoing sentiments from analysts and trucking executives that the freight market has tightened in recent weeks as people spend more time outdoors.