Business

WASHINGTON — Federal Reserve Chair Jerome Powell cautioned April 16 that persistently elevated inflation will likely delay any Fed interest rate cuts until later this year.

U.S. retail sales for medium-duty trucks hit their fifth consecutive month of year-over-year gains in March but at a lower rate of 0.7%, according to data from Wards Intelligence.

Amazon.com Inc.’s Prime subscription service hit a new high of 180 million U.S. shoppers in March, up 8% from a year earlier, according to Consumer Intelligence Research Partners.

GOTHENBURG, Sweden — The dominant choices for zero-emission commercial vehicles will ultimately be decided by truck buyers, executives from Volvo Group said.

A new tolling system featuring open-road tolling lanes is complete along the 241-mile stretch of the Ohio Turnpike, signaling the end of its largest construction project in its history.

NASHVILLE, Tenn. — Motive has announced an array of AI products and services designed for driver safety and greater visibility and control over motor carrier and other related operations.

The Port of Portland will shut down its cargo container handling operation at North Portland’s Terminal 6, saying an effort to lease the site to a third-party operator had fallen through.

SPARROWS POINT, Md. — Crews are using the largest crane on the Eastern Seaboard to haul the wreckage from Baltimore’s Francis Scott Key Bridge collapse to a nearby salvage yard.

YOKOHAMA, Japan — Nissan expects to mass produce electric vehicles powered by advanced next-generation batteries by early 2029, the company said April 16.

The Biden administration will likely need to tap oil from the country’s emergency reserves to counter a spike in gasoline prices and amid inflation fears during the summer driving season.