Trucking Business News

About Business News...

Transport Topics business coverage focuses on the financial, economic, and commercial aspects of the modern freight business. Looking at both the microeconomic and macroeconomic forces shaping bottom lines, the news in this category includes labor news, jobs reports, tonnage and sales indicators, operations analysis, money and banking, mergers, acquisitions, e-commerce, bankruptcy, insurance issues, and more.

BusinessEquipment

LTL Carrier Yellow Returns to Profitability in Q3

Yellow Corp. reported improved year-over-year third-quarter earnings Nov. 3, showing an increase in revenue and net income as the Overland Park, Kan., less-than-truckload carrier turned a profit in the three months ending Sept. 30.

November 4, 2021
GovernmentBusiness

US Productivity Falls Most Since 1981

Productivity in the U.S. fell by the most since 1981 in the third quarter, reflecting a sharp pullback in economic growth and an increase in hours worked.

November 4, 2021
Business

Ford to Cut Debt Costs by Retiring ‘COVID Bonds’

Ford Motor Co. is aiming to cut its borrowing costs by more than half as it repurchases $5 billion in junk-rated debt and seeks to set a path to return to an investment-grade credit rating.

November 4, 2021
BusinessLogistics

Supply Chain Delays Disrupt California Agriculture Exports

Amid an historic drought posing threats to future harvests, California farmers now say they have no way to export the crops they do have because of a kink in the global supply chain that has left containerships lined up off the Southern California coast with nowhere to deliver their goods.

November 4, 2021
BusinessLogistics

VW CEO Tells German Workers Tesla Factory Will Threaten Jobs

Volkswagen AG CEO Herbert Diess urged German workers to prepare for a deeper overhaul to remain competitive when Tesla Inc. ramps up vehicle production at its first European factory outside Berlin next year.

November 4, 2021
GovernmentBusinessTechnologyEquipment

Nikola Expects $125 Million Penalty From SEC

Hydrogen-electric fuel truck manufacturer Nikola Corp. said it took a $125 million charge in the third quarter as it expects to use that money as part of a possible negotiated settlement with the U.S. Securities and Exchange Commission concerning allegations the company’s founder, Trevor Milton, defrauded investors.

November 4, 2021
Business

Survey Finds 65% of Truck Drivers Not Looking for New Job

The majority of truck drivers are not looking for a new job amid a market in which demand is outweighing supply, according to results of a survey released Nov. 2.

November 3, 2021
BusinessLogistics

XPO Reports Record Revenue, but Issues in LTL for Q3

XPO Logistics Inc. reported the highest revenue in its history Nov. 2, but noted some challenges with less-than-truckload performance for the third quarter.

November 3, 2021
GovernmentBusinessLogistics

Freight Stakeholders Seek Supply Chain Action From Biden

WASHINGTON — American Trucking Associations joined nearly 100 freight stakeholders in calling on President Joe Biden to amplify his administration’s response to ongoing supply chain woes nationwide.

November 3, 2021
BusinessEquipmentLogistics

New Utah Inland Port Seen as 'Relief Valve' for West Coast Facilities

Just 60 miles south from one of the most famous locations in American transportation history, Promontory Point, Utah, a new transportation and logistics center is open for business and still being built out.

November 3, 2021