Coronavirus
Stocks Briefly Erase Pandemic Losses; Oil Rallies
(Qilai Shen/Bloomberg News)
U.S. stocks briefly surpassed the all-time closing high reached before the coronavirus pandemic, propelled by surging technology shares. The dollar weakened, and Treasury yields rose to five-week highs.
August 12, 2020Labor Abuse Allegations Tie Up Ships in Australia Ports
Shipping containers sit at the Port Botany terminal in Sydney, Australia, on June 3. (Brendon Thorne/Bloomberg News)
Australian authorities detained at least two cargo ships for alleged labor violations related to demands from seafarers to be sent home, some of whom have spent more than a year at sea.
August 12, 2020Planning Expert Emphasizes Health Considerations in Public Policy
As adults get older, access to transportation can get more difficult, said Renee Autumn Ray, strategy and innovation leader at Conduent Transportation. (SolStock/Getty Images)
Public agencies at all levels of government, including the ones related to transportation, should incorporate health considerations into policy decisions, a planning expert said.
August 12, 2020Trucking Fares Better Than Overall Economy, Experts Say
Getty Images
The trucking and freight economy appears to be doing better than the overall U.S. economy as fleets adjust to contend with supply chain changes caused by the COVID-19 pandemic.
August 12, 2020Mnuchin Pushes for Limited Stimulus as Stalemate Persists
Treasury Secretary Steven Mnuchin is pushing again for a limited virus-relief bill. (Stefani Reynolds/Bloomberg News)
Treasury Secretary Steven Mnuchin renewed a push for a more limited next-round U.S. pandemic relief package of “a little more than $1 trillion” on Aug. 12, saying that Democratic demands for spending more could be discussed down the road.
August 12, 2020FMCSA Extends Emergency Relief Declaration to Sept. 14
A northbound truck crosses the Modoc County line in California. (Scott Sonner/AP)
The Federal Motor Carrier Safety Administration has again extended its emergency declaration relaxing hours-of-service rules for motor carriers that are providing direct assistance in support of coronavirus-related relief efforts.
August 12, 2020Inflation Quickened in July on Costs of Vehicles, Apparel
Customers carrying shopping bags exit from a mall in Syracuse, N.Y., on July 10. (Maranie Staab/Bloomberg News)
U.S. consumer prices rose in July by more than expected on a jump in auto and apparel costs, though inflation remained broadly muted as the pandemic suppressed demand.
August 12, 2020Occidental’s Lone Rig Shows Downfall of Permian Basin Oil Giant
(Taylor Weidman/Bloomberg News)
Occidental Petroleum Corp. will have just a single oil rig in the Permian Basin in the second half of the year, illustrating the scale of the shale industry’s pullback and the company’s debt woes.
August 11, 2020Hertz Seeks Bankruptcy Loan as Car Rental Volume Slowly Recovers
Hertz is seeking debtor-in-possession financing more than two months after filing for bankruptcy. (Martina Albertazzi/Bloomberg News)
Hertz Global Holdings Inc. is seeking debtor-in-possession financing more than two months after filing for Chapter 11 protection, reflecting the reality that it still faces trouble ahead if travel doesn’t bounce back.
August 11, 2020Trump’s Executive Actions Fail to Jolt Stalled Relief Talks
Steven Mnuchin and Mark Meadows speak to members of the media at the U.S. Capitol on Aug. 7. (Stefani Reynolds/Bloomberg News)
Two days after President Donald Trump moved to implement scaled-down coronavirus relief without congressional approval, there’s no indication the tactic will get Republicans and Democrats back to the negotiating table for a comprehensive stimulus.
August 10, 2020