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.
Mullen Group Closes ContainerWorld Acquisition
Mullen Group closed its previously announced acquisition of fellow Canadian business ContainerWorld Forwarding Services, the company revealed May 3.
XPO Posts Q1 Net Income Rise of 294% Despite Tough Market
XPO Inc. experienced a 294.1% increase in earnings year-over-year despite a soft freight environment during the first quarter of 2024, the company reported May 3.
Oregon Spends $2.1M in Federal Grant to Train Truck Drivers
Hundreds of newly minted commercial truck drivers are on the road in Oregon thanks to a state group’s decision to allocate a large chunk of a federal grant to driver training.
Cummins Sees Q1 Income Rise From Sale of Filtration Business
Engine manufacturer Cummins Inc. said its first-quarter bottom line was lifted by the March completion of its divestiture from filtration business Atmus.
I-95 in Connecticut Closed for Days as Crash Damages Bridge
NORWALK, Conn. — Workers on May 3 began removing a bridge over a Connecticut highway that was damaged in a fiery crash — a project expected to keep both sides of I-95 closed through the weekend.
May 3, 2024Houthis Threaten to Try to Attack Ships in Mediterranean Sea
The Houthi group based in Yemen threatened to start trying to attack ships in the eastern Mediterranean as it steps up a campaign of anti-Israeli assaults.
EV Makers Win 2-Year Extension to Qualify for US Tax Credits
The Biden administration gave carmakers a partial reprieve in finalizing EV tax credit rules intended to loosen China’s grip on battery materials crucial to the car industry’s future.
World’s Most Important Oil Price Transformed
After years of skepticism, criticism and trader furore, the world’s most important oil price is working better than ever thanks to an infusion of crude from west Texas.
May 3, 2024Safety Practices, Culture Help Carriers Reduce Liability
PHOENIX — When a crash happens, it is a carrier’s policies, procedures and routines that could lead to a nuclear verdict.
Automation and New Vehicle Technology Bring New Challenges
PHOENIX — The amount of safety technology available to fleets has exploded over the past 20 years, creating a new intersection of safety, technology and regulation.