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.
US Oil Production to Peak at 43-Year High Before Trailing Off
U.S. oil output will peak at a 43-year high in 2015 as producers work through a backlog of uncompleted wells before trailing off in the second half of the year.
House OKs Transportation Bill With 33-Foot Trailer, HOS Provisions
The House on June 9 approved spending legislation with key trucking provisions, including one that would permit twin 33-foot trailers on U.S. highways. The Transportation, Housing and Urban Development appropriations bill now goes to the Senate.
FedEx Corp. Raises Dividend by 25% to 25¢ Per Share
FedEx Corp. announced a 25% increase in its dividend to 25 cents per share.
June 9, 2015DOE Holds 2015 Diesel-Price Forecast at $2.88
The Department of Energy held its 2015 forecast for U.S. diesel prices at $2.88 a gallon but lowered its 2016 projection by 9 cents to $3.03.
Radiant Logistics Announces Two Acquisitions, Boosts Fiscal 2016 Guidance
Radiant Logistics has acquired a pair of transportation firms, New York-based Service By Air Inc. and Kentucky-based Highways and Skyways Inc.
Online Buyers More Open to Alternate Delivery Locations, UPS Survey Finds
U.S. consumers have become more open to alternate delivery locations for products ordered online, according to a recent report by UPS Inc.
Port of Los Angeles Sets $1 Billion Budget
The Board of Harbor Commissioners at the Port of Los Angeles approved a $1 billion budget for fiscal year 2015-2016 for the period beginning July 1.
June 9, 2015Job Openings Rise in April to More Than 14-Year High
Job openings in the United States increased to the highest level in more than 14 years, showing the labor market was solidifying gains even as the economy emerged from a first-quarter funk.
XPO Logistics Acquires Norbert Dentressangle Shares
XPO Logistics Inc. announced it has acquired control of French logistics operator Norbert Dentressangle SA by acquiring the 67% ownership stake held by founder Norbert Dentressangle and his family.
June 8, 2015Diesel National Average Drops 2.5¢ to $2.884 in Second Straight Decline
Diesel fuel’s national average price fell for a second consecutive week, sliding 2.5 cents to $2.884 a gallon, the Department of Energy said June 8.