Government, Business

Multiple Hits to Economy Likely to Trigger Recession, Analysis Shows

stock trader reacts Stock trader Gregory Rowe reacts at the New York Stock Exchange on March 18. (Mark Lennihan/AP)

The U.S. economy amid the COVID-19 crisis is suffering under the weight of multiple factors, including lower consumer spending, falling business investment and global travel bans, according to a report from S&P Global Economics.

Jerry Hirsch | Contributing Writer
March 18, 2020
Business, Fuel

Oil Floating-Storage Trade Is a Go After Crude’s Latest Tumble

Ali Mohammadi/Bloomberg News (Ali Mohammadi/Bloomberg News)

The latest collapse in oil prices has put in play a lucrative trade to store crude at sea, reviving memories of the 2008-09 recession when millions of barrels were kept on the world’s oceans.

March 18, 2020
Government, Business, Safety

Treasury Proposes Delivering $500B to Americans Starting April

Senate Majority Leader Mitch McConnell walks back to his office in Washington on March 17. Senate Majority Leader Mitch McConnell walks back to his office in Washington on March 17. (Susan Walsh/Associated Press)

The Treasury Department said March 18 it wants to dedicate $500 billion to start issuing direct payments to Americans by early next month as the centerpiece of a $1 trillion plan to stabilize the economy as the coronavirus epidemic threatens a body slam to taxpayers and businesses.

March 18, 2020
Government, Business, Safety, Logistics

UPS Helping With Coronavirus Testing Sites

UPS CEO David Abney UPS CEO David Abney by Christopher Goodney/Bloomberg News

UPS Inc. is joining a Trump administration effort to bring mobile coronavirus testing to several U.S. cities, the company announced March 16.

Connor D. Wolf | Staff Reporter
March 18, 2020
Government, Business, Logistics, TCA

Kroger CEO: ‘There’s Plenty of Food in the Supply Chain’

An employee restocks shelves in the meat section at a Kroger Co. supermarket in Louisville, Ky. An employee restocks shelves in the meat section at a Kroger Co. supermarket in Louisville, Ky. (Luke Sharrett/Bloomberg News)

Kroger CEO Rodney McMullen urges the public to remember that the grocery business deals in perishable goods and is set up to constantly ship and refill store shelves.

Alexander Coolidge | Cincinnati Enquirer/The Columbus (Ohio) Dispatch
March 18, 2020
Business, Equipment, Safety

Commercial Vehicle World Focuses on Business Continuity

Pressure Systems International Pressure Systems International in San Antonio. (Pressure Systems International)

While truck drivers are out delivering freight to restock bare shelves or deliver medicines and other vital goods, commercial vehicle manufacturers, dealers and suppliers in the midst of the coronavirus pandemic are focused on keeping their employees healthy and ensuring services, equipment and components remain available to fleets.

Roger Gilroy | Senior Reporter
March 18, 2020
Government, Business, Breaking News

US to Close Canadian Border; Trade Not Affected

vehicles at US-Canada border Vehicles enter the United States as a minivan drives to Canada in the Detroit-Windsor Tunnel in Detroit on March 16. (Paul Sancya/AP)

The duration of a temporary ban on nonessential travel between the United States and Canada could be a month, President Donald Trump told reporters at the White House on March 18.

Dan Ronan | Associate News Editor
March 18, 2020
Business, Safety

Detroit Automakers Agree to Rotating Partial Shutdown of Plants

A Ford F-150 truck moves through the inspection area in November 2014. A Ford F-150 truck moves through the inspection area on the production line at the company's Dearborn Truck Assembly facility in November 2014. (Jeff Kowalsky/Bloomberg News)

General Motors Co., Ford Motor Co. and Fiat Chrysler Automobiles NV will partially shut down their U.S. plants on a rotating basis in an effort to contain the spread of the coronavirus.

March 18, 2020
Government, Business, Technology, Safety, TCA

Tesla’s Fremont Factory Forced to Shut Down Under Shelter-in-Place Order

An aerial view of Tesla's Fremont, Calif., assembly plant in October 2019. An aerial view of Tesla's Fremont, Calif., assembly plant in October 2019. (Sam Hall/Bloomberg News)

After some confusion, the Alameda County Sheriff’s Department in California said March 17 the car plant was not “essential,” and like most other businesses must shut down under the county’s shelter-in-place order that took effect March 17.

Chase DiFeliciantonio | San Francisco Chronicle
March 18, 2020
Business, Safety

Chinese Port Restricts Ships From Virus-Hit Nations for 14 Days

Shipping containers. (Qilai Shen/Bloomberg News)

The port of Fuzhou in eastern China is restricting vessels arriving from nine countries including the U.S. and Singapore in efforts to limit the spread of coronavirus by visiting ships and their crew.

March 18, 2020

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