Business

About Business News...
Government, Business, Safety

Illinois Officials Announce $250 Million for Local Infrastructure

Truck passing Welcome to Illinois sign A tractor-trailer passes by a Welcome to Illinois sign. Illinois plans to distribute $1.5 billion to local government agencies over three years. (benkrut/Getty Images)

Leading Illinois officials recently announced that $250 million in infrastructure grants will be dedicated to local government agencies.

Eleanor Lamb | Staff Reporter
July 31, 2020
Business, Fuel, Logistics

Oil Pares Monthly Gain With Global Supply Onslaught Looming

Fuel lines sit connected to underground storage tanks in Princeton, Ill., on April 1. Fuel lines sit connected to underground storage tanks at a gas station in Princeton, Ill., on April 1. (Daniel Acker/Bloomberg News)

Oil is set to eke out a monthly gain, yet futures lost steam on July 31 amid threats that the market will soon become oversupplied.

Andres Guerra Luz | Bloomberg News
July 31, 2020
Government, Business

US Incomes Fall in June as One-Time Stimulus Boost Fades

Pedestrians wearing masks walk near a Chipotle in San Francisco on July 20. Pedestrians wearing masks walk near a Chipotle in San Francisco on July 20. (David Paul Morris/Bloomberg News)

U.S. incomes fell more than expected in June as the effects of the government’s one-time stimulus checks dissipated, though an increase in unemployment-insurance payments pointed to the importance of expiring federal relief.

Reade Pickert | Bloomberg News
July 31, 2020
Government, Business, Safety

UPS Leaders Share Practices to Mobilize Against Human Trafficking

Crowd of people Truckers Against Trafficking Executive Director Kendis Paris said the group's efforts are working. She said 1,230 victims have been identified through Truckers Against Trafficking. (U.S. Department of Transportation)

Companies’ efforts to combat human trafficking should be rooted in education and the support of leadership teams, according to executives from UPS Inc.

Eleanor Lamb | Staff Reporter
July 31, 2020
Business, Technology, Logistics

Amazon Plows Through Pandemic With Record Profit

Boxes move along a conveyor belt at an Amazon fulfillment center in New Jersey. Boxes move along a conveyor belt at an Amazon fulfillment center in New Jersey. (Michael Nagle/Bloomberg News)

Amazon .com Inc. justified its big investments to keep operating through the COVID-19 pandemic with sales growth and a record profit that far exceeded analysts’ estimates, showing that staying open when so many businesses were forced to close was a rare opportunity.

Spencer Soper | Bloomberg News
July 31, 2020
Business, Logistics

XPO Reports Net Loss in Q2; Revenue Slides

XPO Logistics truck XPO Logistics said second-quarter revenue fell 17.4% to $3.5 billion from $4.2 billion for the same period in 2019. (XPO Logistics)

XPO Logistics swung to a loss as revenue declined sharply in the second quarter because of the COVID-19 pandemic.

Jerry Hirsch | Contributing Writer
July 30, 2020
Government, Business, Technology

Tech Leads Stock Rebound From Lows Amid Earnings

Jerome Powell, Federal Reserve chairman, testifies during a House Financial Services Committee hearing in Washington on June 30. Jerome Powell, Federal Reserve chairman, testifies during a House Financial Services Committee hearing in Washington on June 30. (Tasos Katopodis/Bloomberg News)

Stocks pared losses as a rally in big technology companies tempered concern over a slow economic rebound. After the close of regular trading, Apple Inc., Amazon .com Inc., Alphabet Inc. and Facebook Inc. jumped as results crushed Wall Street estimates.

July 30, 2020
Business, Technology, Fuel

Nikola’s Trevor Milton Says Future of Trucking Is Hydrogen-Based

Trevor Milton Nikola's Trevor Milton in 2019. (Nikola Motor Co.)

Nikola Corp. founder and Executive Chairman Trevor Milton believes the hydrogen fuel cell technology that powers his company’s trucks can place Nikola at the forefront of global efforts to toughen clean-air rules while also providing a truck that meets the needs of commercial fleets.

Dan Ronan | Associate News Editor
July 30, 2020
Business, Equipment

Year-Over-Year Average Price for Used Class 8 Trucks Drops Again

Used Class 8 trucks on a sales lot Used trucks sit on the sales lot at Atlanta International Used Truck Center. (Atlanta International Used Truck Center via Facebook)

The year-over-year average price of a used Class 8 vehicle in June declined for the 14th consecutive month.

Roger Gilroy | Senior Reporter
July 30, 2020
Government, Business

Q2 GDP Drops a Record 32.9%, but Trucking Holding Steady

Trucks on an interstate highway American Trucking Associations Chief Economist Bob Costello said trucking is holding its own during these tough times. (Doug Berry/Getty Images)

The gross domestic product of the United States shrank a record-setting 32.9% in the second quarter, tracking closely with economists’ expectations.

Dan Ronan | Associate News Editor
July 30, 2020

Pages