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.
Werner Revenue and Profit Decline on Q3 Market Struggles
The Omaha, Neb.-based carrier’s Q3 net income fell 72% to $6.6 million, or 11 cents per share, compared with $23.7 million, 37 cents, a year ago.
October 30, 2024XPO Net Income Climbs 10% on Strong LTL Pricing in Q3
XPO’s North American LTL segment, its core operation, increased revenue by 1.9% to $1.25 billion from $1.23 billion last year despite declines in shipment volumes.
October 30, 2024PepsiCo to Close Four US Bottling Plants, Cut 400 Jobs
The news follows PepsiCo's confirmation of the Chicago plant's full closure earlier in the week. Sales, delivery and warehouse functions will continue at the other three locations.
DSV Secures $5.4 Billion in Bonds for DB Schenker Deal
The Danish transport company sold a six-part bond deal with maturities ranging from two to 10 years, according to a person familiar with the matter.
VW Proposes 10% Pay Cut in Effort to Avoid Factory Closures
Arne Meiswinkel, the automaker’s chief negotiator, said the plan includes a 10% pay cut and revised bonus system. The measures aim to strengthen the VW brand.
Trucking Stakeholders Tackle Biggest Cybersecurity Concerns
CLEVELAND — Trucking is dealing with an evolving cybersecurity environment that raised concerns among industry experts during a panel discussion Oct. 28.
Rust Belt Sees Boom in EV Charging
As electric car sales pick up pace far from the U.S. coasts, a wave of new fast-charging stations is coming online from the Rust Belt down to the Deep South.
Stellantis Pauses Production at Detroit Assembly Complex
Stellantis continued to slash vehicle production and cut jobs in the United States this week, including at the automaker’s Detroit Assembly Complex.
Daimler Truck Says It’s Reviewing China Operations
BERLIN — German commercial vehicle manufacturer Daimler Truck has announced it is reassessing the future of its operations in China.
Refrigerated Rates’ Near-Term Upside Likely Limited: FTR
Rates will improve in 2025, however, as will volumes, FTR Vice President of Trucking Avery Vise said during the research group’s Q4 2024 Food Industry Economic and Transportation Update.