01 Aug California Trucking School Owner Pleads Guilty to $4.3 Million Scam The owner of a California trucking school has pleaded guilty to swindling the U.S. Department of Veterans Affairs out of more than $4 million in tuition and other payments after falsely certifying that hundreds of veterans had attended classes they never took, the U.S. Attorney’s Office for the Central District of California announced July 29. Read more...
01 Aug Schneider Income Down as It Shutters Its First to Final Mile Service Schneider National Inc. reported lower net income and revenue for its second quarter, as it announced the closure of its First to Final Mile service after disappointing performance. Read more...
01 Aug GM Profit Beats Estimates as Trucks Make Up for Slower Sales General Motors Co. is looking like a port in the storm as new trucks and cost-cutting efforts pad profit in the midst of slowing industry sales. Read more...
01 Aug Factory Gauge Sinks to Lowest Since 2016 as Exports Drop U.S. manufacturing activity deteriorated in July to an almost three-year low, dragged down by slower production and shaky export markets that help explain the Federal Reserve’s decision to reduce interest rates July 31. Read more...
01 Aug Shopify Rally Continues After Sales, Outlook Beat Estimates Shopify Inc. shares continued their rally Aug. 1 after the Canadian e-commerce company reported second-quarter sales that beat analysts’ average estimate and gave a more optimistic full-year outlook. Read more...
01 Aug Shell Profit Misses as Slowing Economy Hurts Gas, Chemicals Royal Dutch Shell Plc got caught into the same earnings trap as many of its peers, reporting second-quarter earnings that fell well short of expectations as the slowing global economy hit everything from natural gas to chemicals. Read more...
01 Aug Keystone XL Pipeline Inches Forward as Order Blocking Work Is Lifted TC Energy Corp.’s $8 billion Keystone XL crude oil pipeline is inching forward after a court injunction that stopped work on the project was been lifted. Read more...
01 Aug Jobless Claims Rise to 215,000 as Labor Market Holds Up Filings for U.S. unemployment benefits edged up while remaining at historically low levels, another indication that the labor market remains generally robust. Read more...
01 Aug Allison Transmission Posts 4% Increase in Net Income for 2Q Allison Transmission Holdings, the largest global provider of commercial fully-automatic transmissions, reported net income for the second quarter was up 4% to $181 million, compared with $174 million for the same period in 2018, according to a July 31 earnings release. Read more...
01 Aug Trucking Stakeholders Ask Congress to Repeal the 12% Federal Excise Tax on Trucks, Trailers A group of trucking stakeholders asked Congress to repeal the 12% federal excise tax on the purchase of heavy-duty trucks, tractors and trailers. Read more...