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Business, Fuel, Logistics

Oil Pares Monthly Gain With Global Supply Onslaught Looming

Fuel lines sit connected to underground storage tanks in Princeton, Ill., on April 1. Fuel lines sit connected to underground storage tanks at a gas station in Princeton, Ill., on April 1. (Daniel Acker/Bloomberg News)

Oil is set to eke out a monthly gain, yet futures lost steam on July 31 amid threats that the market will soon become oversupplied.

Andres Guerra Luz | Bloomberg News
July 31, 2020
Business, Technology, Logistics

Amazon Plows Through Pandemic With Record Profit

Boxes move along a conveyor belt at an Amazon fulfillment center in New Jersey. Boxes move along a conveyor belt at an Amazon fulfillment center in New Jersey. (Michael Nagle/Bloomberg News)

Amazon .com Inc. justified its big investments to keep operating through the COVID-19 pandemic with sales growth and a record profit that far exceeded analysts’ estimates, showing that staying open when so many businesses were forced to close was a rare opportunity.

Spencer Soper | Bloomberg News
July 31, 2020
Business, Logistics

XPO Reports Net Loss in Q2; Revenue Slides

XPO Logistics truck XPO Logistics said second-quarter revenue fell 17.4% to $3.5 billion from $4.2 billion for the same period in 2019. (XPO Logistics)

XPO Logistics swung to a loss as revenue declined sharply in the second quarter because of the COVID-19 pandemic.

Jerry Hirsch | Contributing Writer
July 30, 2020
Business, Logistics, Top 100

Schneider Reports Profit Rises, Revenue Dips

Schneider truck Schneider

Schneider National saw net income increase while revenue fell during the second quarter, the truckload, intermodal and logistics services company reported July 30.

Connor D. Wolf | Staff Reporter
July 30, 2020
Business, Logistics

United Air Warns Outlook Threatens One-Third of Pilot Jobs

United Airlines planes stand past an empty waiting area for travelers at Newark International Airport in New Jersey. United Airlines planes stand past an empty waiting area for travelers at Newark International Airport in New Jersey. (Angus Mordant/Bloomberg News)

United Airlines Holdings Inc. warned that it’s considering furloughs for as many as one-third of its nearly 12,000 pilots, citing a resurgence in U.S. coronavirus cases that’s weakened sales.

Justin Bachman | Bloomberg News
July 30, 2020
Business, Logistics, Top 50, Top 100

UPS Reports Strong Q2 Earnings as Deliveries Surge

A UPS logo is displayed on the tail of a cargo jet at the company's Worldport facility in Louisville, Ky. A UPS logo is displayed on the tail of a cargo jet at the company's Worldport facility in Louisville, Ky. (Luke Sharrett/Bloomberg News)

UPS Inc. reported strong results in the second quarter, as a surge in deliveries to homes and businesses has helped lift the company through the COVID-19 pandemic.

Dan Ronan | Associate News Editor
July 30, 2020
Business, Logistics

Walmart Is Eliminating Hundreds of Corporate Jobs

A nearly empty parking lot stands outside the Walmart World Headquarters in Bentonville, Ark., on May 28. A nearly empty parking lot stands outside the Walmart World Headquarters in Bentonville, Ark., on May 28. (Terra Fondriest/Bloomberg News)

Walmart Inc. has eliminated hundreds of corporate positions, according to people familiar with the matter, as retailers around the country slim down at the back-office level.

Matthew Boyle | Bloomberg News
July 30, 2020
Business, Logistics, Top 50, Top 100

Ryder Steps in as Amazon Restricts Third-Party Sellers

Ryder fulfillment center worker A Ryder worker inspects inventory at its e-commerce fulfillment facility near Los Angeles. (Business Wire)

Ryder System Inc. is positioning itself to fill a major void left by Amazon.com Inc. after the online retail giant announced it will restrict warehouse space for third-party sellers.

Connor D. Wolf | Staff Reporter
July 30, 2020
Business, Logistics, Top 100

Werner Reports Q2 Revenue of $569 Million

Werner Enterprises truck Werner Enterprises Inc.

Werner Enterprises reported declines in second-quarter revenue and net income during what the company’s leader said was one of the toughest business environments it has ever confronted.

Connor D. Wolf | Staff Reporter
July 30, 2020
Business, Logistics, Top 50, Top 100

U.S. Xpress Reports Profit, Revenue Gains for Q2

U.S. Xpress truck U.S. Xpress Enterprises

U.S. Xpress Enterprises’ net income and revenue increased during the second quarter, the Chattanooga, Tenn.-based carrier reported July 28.

Connor D. Wolf | Staff Reporter
July 29, 2020

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