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.

BusinessTechnology

Toyota More Than Doubles Investment at N.C. Battery Plant

RALEIGH, N.C. — Toyota will invest an additional $8 billion in the hybrid and electric vehicle battery factory it’s constructing in North Carolina, more than doubling prior investments.

October 31, 2023
BusinessFuel

BP Profit Misses Estimates on Weak Gas Trading

BP Plc’s third-quarter profit rebounded from the prior period but fell short of estimates as weak results in gas marketing offset a strong performance in oil trading.

October 31, 2023
BusinessEquipment

Caterpillar Falls as Shrinking Backlog Raises Demand Worry

Caterpillar Inc. shares tumbled in premarket trading after the company said its order backlog shrank in the third quarter, in a sign of slowing demand for its iconic yellow machinery.

October 31, 2023
BusinessEquipment

Stellantis Expects Strike to Cost It 750 Million Euros

MILAN — Stellantis said Oct. 31 that the autoworkers strike in North America is expected to cost the company around 750 million euros ($795 million) in profits — less than its competitors.

October 31, 2023
GovernmentBusinessSafety

Indiana Adds 225 Truck Parking Spots at I-65 Rest Areas

Truckers traveling in Indiana on Interstate 65 now have more than 200 new parking spaces available to them after state officials on Oct. 24 opened a revamped Kankakee Welcome Center.

October 30, 2023
BusinessEquipmentFor-Hire

Court Approves Yellow Administrators’ Auction Plans

A court on Oct. 27 approved plans by the administrators of Yellow to use auctioneers to sell the company’s rolling stock, as Jack Cooper Transport eyes a bid to rescue the motor carrier.

October 30, 2023
BusinessTechnologyFor-Hire

XPO Reports Revenue Increase Despite Tough Conditions

XPO posted an increase in revenue but a dip in profit during the third quarter amid a challenging freight environment, the company said Oct 30.

October 30, 2023
BusinessFuelLogisticsPrivate

ADM Strikes Supply Deal for US Plant-Based Chemical Factory

Archer Daniels Midland Co. has agreed to supply biochemical maker Solugen Inc. with raw materials needed to make plant-based acids at a plant to be built in southwest Minnesota.

October 30, 2023
BusinessEquipment

Mack, UAW End Latest Labor Talks With No Deal

Negotiations between Mack Trucks and the United Auto Workers union over a labor agreement ended Oct. 26 with no new master contract in place, the Volvo Group subsidiary said.

October 30, 2023
GovernmentBusinessTechnologyAutonomousTCA

‘Autonomy Is the Future,’ Says California Gov. Newsom

In 30 years, California Gov. Gavin Newsom thinks we’ll wonder why we ever let human drivers on the road, he told reporters Oct. 29 after touring a Tesla car factory in Shanghai.

October 30, 2023