22 May Diesel Price Falls 0.5¢ to $2.539 a Gallon The U.S. average retail price of diesel dropped 0.5 cent to $2.539 a gallon, the Department of Energy said May 22. Read more...
22 May April a Strong Month for West and East Coast Ports The top North American ports had another strong month in April as larger vessels begin to arrive and drop off more containers in a single stop than ever before. Read more...
22 May Trucking Industry Introduces Mascot, Calls for Name Submissions Trucking Moves America Forward introduced its newest member, the trucking industry's mascot, on May 18. Read more...
22 May Gap Narrowing Between Contract Rates, Spot Market Prices, Report Says The gap between spot-market prices and contract rates is closing, according to the latest Chainalytics-Cowen Freight Index, suggesting a rebound from a difficult February marketplace. Read more...
22 May CSX Downplays Concerns Over Harrison's Health New concerns arose about the health of Hunter Harrison ahead of a shareholders vote June 5 about whether to reimburse the CEO of CSX for $84 million in compensation he surrendered when he joined the Jacksonville, Fla., railway. Read more...
22 May Why the Rout in Retail Shouldn't Be a Big Worry for Economy A furious pace of store closings and bankruptcies has drummed up fears that U.S. retail is collapsing. Not so fast: Many indicators suggest that retail employment is unlikely to shrivel and the economy will withstand any shock from the sector's rout. Read more...
22 May Investment, Hiring Plans Show Rising US Business Optimism A jump in U.S. investment and hiring plans for 2017 indicates manufacturers and service providers have grown more optimistic about the economy since late last year, the Institute for Supply Management's twice-yearly forecast showed May 22. Read more...
22 May Paccar to Launch Proprietary Axle for Construction and Vocational Segments Paccar Inc. announced that it will introduce a new proprietary front axle for its Kenworth Truck Co. and Peterbilt Motors Co. brands in the third quarter, adding that the axle is designed for construction and vocational applications that support infrastructure investments. Read more...
22 May International Opens Flagship Used Truck Center International Truck announced the grand opening of the new flagship Used Truck Center in Melrose Park, Ill. Read more...
22 May World's Biggest Private Equity Manager Unveils $100 Billion Ambition for Infrastructure Blackstone Group, the world's biggest private equity manager, is eyeing more than $100 billion in infrastructure investments with a new strategy anchored by Saudi Arabia's Public Investment Fund. Read more...