20 Jun Commerce Secretary Wilbur Ross Denies Insider Trading Commerce Secretary Wilbur Ross made a trade betting that the stock in a shipping company with Russian-government ties would fall, a transaction coming just days after he learned of a possible negative news story about his investment in the company. Read more...
20 Jun VW Truck & Bus to Be Renamed Traton Group Volkswagen Truck & Bus announced it will rename itself Traton Group to further increase its independence from parent company Volkswagen AG and toward “capital market readiness” in preparation for a potential IPO by the unit. Read more...
20 Jun UPS, Teamsters Resume Contract Talks as Threat of Strike Looms The latest round of face-to-face labor negotiations between UPS Inc. and the International Brotherhood of Teamsters was slated for the week of June 18, with the threat of a strike looming over the talks if no agreement can be reached before the current five-year contract expires Aug. 1. Read more...
20 Jun Volvo Sees New South Carolina Plant as Hedge Against Tariffs When Volvo Car Group broke ground on its first U.S. assembly plant in 2015, it was a proud proof point for the Swedish automaker’s rebound and global expansion, not a chess move in anticipation of a possible trade war. Read more...
20 Jun Penske Logistics to Buy Epes Transport Penske Logistics will acquire Epes Transport System, a Greensboro, N.C., dry-van truckload and dedicated contract carriage provider, with more than 1,100 drivers. Terms were not disclosed. Read more...
20 Jun Concrete Group Seeks 14-Hour Workday The American Concrete Pumping Association is asking federal regulators to extend allowable work hours in a day for shorthaul drivers from 12 to 14. Read more...
20 Jun Maersk Appoints First Female Executive in 114-Year History A.P. Moller-Maersk A/S, the world’s biggest shipping company, has appointed a woman to be its chief financial officer for the first time in its 114-year history. Carolina Dybeck Happe, 45, who has held various high-ranking posts at lockmaker Assa Abloy AB, will start at Maersk by the beginning of next year. Read more...
20 Jun New Partnership to Explore Effect of Autonomous Vehicles on Workplace A diverse group of leading companies and associations launched the Partnership for Transportation Innovation and Opportunity, a collaboration committed to exploring how autonomous vehicles will impact American workers as well as identifying opportunities and developing solutions to address future challenges. Read more...
20 Jun Boeing Wins Big Freighter Jet Order as FedEx Bets On Continued Air Cargo Recovery Reaping the benefit of a worldwide recovery in air cargo, even amid fears of a global trade war, Boeing on June 20 announced a big order from air package-delivery specialist FedEx Express. Read more...
19 Jun FedEx Reports 4Q Profit That Beats Expectations FedEx Corp. reported fiscal fourth-quarter profit that beat expectations as an e-commerce boom boosts package deliveries and a manufacturing rebound drives growing demand in its freight-hauling business. Read more...