Government, Business, Safety

Trump Declares National Emergency to Speed Virus Response

President Trump President Trump at March 13 press conference. (The White House via YouTube)

WASHINGTON — President Donald Trump on March 13 declared the coronavirus pandemic a national emergency, as Washington struggles with providing Americans with relief and officials race to slow the spread of the outbreak.

March 13, 2020
Business, Fuel

Texas Shale Heartland Rattled by Coronavirus, Oil Price War

Permian A Diamondback Energy Inc. oil rig in Midland, Texas. (Callaghan O'Hare/Bloomberg News)

Just a week ago, when crude oil prices fell to $46 a barrel, the mayor of the biggest city in the world’s largest shale oil patch seemed oddly calm, almost relieved.

March 13, 2020
Business, Safety, Logistics

Trucking Not Immune From Worries Over COVID-19

Empty loading dock John Sommers II for Transport Topics

For fleets, COVID-19 portends worse news in a freight market that already was slowing, executives said, as businesses urge their staff to work from home and consumers withdraw from daily activities.

Roger Gilroy | Senior Reporter
March 12, 2020
Government, Business

Stocks Sink in Worst Day Since 1987

NYSE traders Specialist Patrick King (left) and trader Daniel Trimble work on the floor of the New York Stock Exchange on March 12. (Richard Drew/AP)

U.S. stocks tumbled, with benchmark gauges posting their worst drop since 1987, as investors signaled the Federal Reserve’s extraordinary bond-buying measures, and President Donald Trump’s economic proposals, won’t be enough to counter the economic impact from the coronavirus.

March 12, 2020
Government, Business

Coronavirus Concerns Force Cancellation of Mid-America Trucking Show

The exhibit hall floor at the Mid-America Trucking Show The exhibit hall floor at a previous Mid-America Trucking Show in Louisville, Ky. (John Sommers II for Transport Topics)

Due to concerns over the impact of the coronavirus pandemic, officials with the Mid-America Trucking Show announced on March 12 the show scheduled for March 26-28 in Louisville has been canceled.

Dan Ronan | Associate News Editor
March 12, 2020
Government, Business

Fed to Buy a Range of Treasury Bonds to Try to Ease Jitters

NYSE traders Traders at the New York Stock Exchange on March 12 by Richard Drew/AP

WASHINGTON — The Federal Reserve will sharply increase its purchases of short-term U.S. Treasury bonds to try to ease anxiety and disruptions in the financial markets over the coronavirus outbreak.

Christopher Rugaber | Associated Press
March 12, 2020
Government, Business, Technology, Autonomous

BMW Fourth-Quarter Profit Increases on Luxury-Car Sales

BMW The BMW logo is displayed on the rear of a 2020 BMW X2 xDrive 28i at the Pittsburgh International Auto Show on Feb.13, 2020. (Gene J. Puskar/Associated Press)

BMW AG finished 2019 with an increase in automotive profit on rising luxury-car sales as the German manufacturer faces a year mired in concerns over the coronavirus outbreak that threatens to shut down global supply chains.

Oliver Sachgau | Bloomberg News
March 12, 2020
Government, Business, Technology, Equipment, Fuel

China Auto Sales Plunge in February

Attendees at BYD at the Auto Shanghai 2019 Attendees look at cars from BYD at the Auto Shanghai 2019 show in Shanghai on April 16, 2019. China’s auto sales plunged 81.7% year-over-year in February 2020. (Ng Han Guan/Associated Press)

BEIJING — China’s auto sales plunged 81.7% in February from a year ago after much of the economy was shut down to fight a virus outbreak, an industry group reported March 12.

Joe McDonald | Associated Press
March 12, 2020

Washington Trucking Community Proceeds With Caution Amid Coronavirus Outbreak

Port of Seattle A Washington state ferry sails on a foggy day near cranes at the Port of Seattle. (Ted S. Warren/AP)

Sheri Call, executive vice president of Washington Trucking Associations, said her members are experiencing a slowdown because of COVID-19’s impact on trade with China.

Eleanor Lamb | Staff Reporter
March 12, 2020
Government, Business

Trading Halted After Stocks Plunge 7% at Open

Trader Michael Gallucci Trader Michael Gallucci works at his post on the floor of the New York Stock Exchange on March 11, 2020. (Richard Drew/Associated Press)

NEW YORK— The S&P 500 dropped about 7% within the first few minutes of trading March 12, steep enough to trigger an automatic halt to trading on the New York Stock Exchange.

March 12, 2020

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