Business

About Business News...

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.

Business, For-Hire

Mullen Group Closes ContainerWorld Acquisition

Mullen Group closed its previously announced acquisition of fellow Canadian business ContainerWorld Forwarding Services, the company revealed May 3.

Connor D. Wolf | Staff Reporter
May 3, 2024
Business, Logistics

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.

Connor D. Wolf | Staff Reporter
May 3, 2024
Government, Business, Safety

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.

Noël Fletcher | Staff Reporter
May 3, 2024
Business, Equipment

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.

Joe Howard | Executive Editor
May 3, 2024
Government, Business, Safety, Logistics

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, 2024
Government, Business, Safety, Logistics

Houthis 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.

Mohammed Hatem | Bloomberg News
May 3, 2024
Government, Business, Technology

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.

Keith Laing | Bloomberg News
May 3, 2024
Business, Fuel

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, 2024
Business, Technology, Equipment, Safety

Safety 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.

Mindy Long | Special to Transport Topics
May 2, 2024
Business, Technology, Autonomous

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.

Mindy Long | Special to Transport Topics
May 2, 2024