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

Hyundai, LG Invest $2 Billion More Into Georgia Battery Plant

Hyundai Motor Group and LG Energy Solution say they will spend an additional $2 billion and hire an extra 400 workers to make batteries at the automaker’s Georgia EV plant under construction.

September 1, 2023
GovernmentBusinessEquipment

UAW Slams Automakers’ Slow Bargaining, Files Labor Complaint

The United Auto Workers union says it has filed unfair labor practice complaints against Stellantis and General Motors for failing to make counteroffers to the union’s economic demands.

September 1, 2023
GovernmentBusiness

Labor Market Still Resilient, Adds 187,000 Jobs in August

The nation’s employers added 187,000 jobs in August, evidence of a slowing but still-resilient labor market despite the high interest rates the Federal Reserve has imposed.

September 1, 2023
BusinessLogistics

Barge Freight Rates Surge as Mississippi River Levels Drop

The cost to transport America’s harvest from the Midwest to the rest of the world is soaring as shrinking water levels on the Mississippi River drive up barge freight rates.

August 31, 2023
BusinessLogisticsFor-Hire

UPS Offers Buyouts to 167 Pilots as Air Cargo Slumps

UPS Inc. is offering a voluntary severance package for 167 pilots amid a slump in air freight volume.

August 31, 2023
GovernmentBusinessEquipment

Action Sought Against China for Chassis, Container Practices

Lawmakers and trucking industry stakeholders are speaking out about what they view as unfair trade practices supported by China that are hampering domestic manufacturing efforts. 

August 31, 2023
BusinessTechnologyEquipment

Eaton Merges Units in Preparation for Electrification Push

Eaton Corp. is preparing for the gradual transition of heavy-duty trucking away from diesel engines by integrating two segments of its operations.

August 31, 2023
GovernmentBusinessTechnologyEquipment

US Dedicates $12 Billion to Retrofit Auto Plants for EVs

The Biden administration is making up to $12 billion available for automakers to retrofit their facilities to make electric vehicles and hybrids.

August 31, 2023
GovernmentBusinessLogistics

Panama Canal Congestion Threatens US Trucking

Panama Canal officials say limiting how many ships can go through the waterway could have downstream effects on U.S. trucking like slowdowns and bottlenecks.

August 31, 2023
GovernmentBusiness

Economist Sees Challenges and Opportunity in 2024 and 2025

Higher interest rates are expected to slow inflation and the U.S. economy during the remainder of 2023 and into 2024, before the Federal Reserve reverses course and cuts interest rates.

August 31, 2023