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.
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October 30, 2024Caterpillar Misses Estimates on Weakening Construction
Caterpillar Inc. posted a third-quarter profit that missed analysts’ expectations as the machinery producer grappled with weakening demand in construction around the world.
Volvo to Take Ownership of Northvolt Battery Joint Venture
Volvo Car is taking over a joint venture with Northvolt to build a factory on Sweden’s west coast, underscoring the major challenges of scaling battery production in the EV market.
Economy Grows at Solid 2.8% Pace on Strong Consumer Spending
WASHINGTON — The U.S. economy grew at a healthy 2.8% annual rate from July through September, with consumers helping drive growth despite the weight of still-high interest rates.
Colonial Pipeline Weighs Bids for Potential $10B Sale
The Alpharetta, Ga.-based company is working with advisers as it seeks to gauge interest from potential buyers, according to sources who asked not to be named.
Torc Validates Fully Driverless Truck on Test Track
Since May, the independent subsidiary of Daimler Truck has been conducting fully driverless truck tests on a multi-lane test track in Texas, the company revealed Oct. 29.
US Grants $2.4B for Rail Infrastructure Upgrades
Most of the money will go to track and bridge upgrades. Some will be used to bolster training and explore cleaner-burning alternatives to the diesel the rail industry has long relied on.
New Indiana-Ireland Pact Seeks Direct Container Service
A business pact to form a container service between Indiana and Ireland was signed recently by officials from the Ports of Indiana and Port of Cork.
New Arizona-Mexico Commercial Port Gets $275M Contract
The U.S. General Services Administration awarded a $275 million contract to create a large commercial border crossing in Arizona to facilitate bilateral trade with copper mines in Mexico.
Holt Truck Centers Expands With Kyrish Acquisition
Following the deal, Holt Truck Centers will have 35 locations, which the parent company said would make it the third-largest International Motors dealership in the U.S.