19 Sep Rivian is For Real: Amazon Plans 100,000-Vehicle Order Jeff Bezos announced plans Sept. 19 to buy 100,000 electric vans from Rivian, custom-built for Prime deliveries, as part of an Amazon environmental initiative designed to meet the goals of the Paris climate accord 10 years early. The deal follows a $700 million investment in Rivian that the online retailer led in February. Read more...
19 Sep Independent Contractor Rules Could Disrupt Drayage Operations LONG BEACH, Calif. — The drayage industry relies on owner-operators and the independent contractor model to move freight, but state action in California and New Jersey could limit the number of owner-operators available to work and disrupt drayage operations. Read more...
19 Sep BMW Plans as Many as 6,000 Job Cuts in Germany, Report Says BMW AG plans to cut as many as 6,000 jobs in Germany by 2022 as part of its ongoing cost-savings effort, according to Manager Magazin. Read more...
19 Sep Bezos Makes ‘Climate Pledge’ for Amazon Acknowledging a steady drumbeat of criticism from activists and a vocal group of his own employees, Amazon.com founder and CEO Jeff Bezos announced the formation of a new organization, the Climate Pledge, to meet the goals of the landmark Paris climate agreement 10 years early. Read more...
19 Sep Federal Reserve Injects $75 Billion in Liquidity The Federal Reserve added a third dose of liquidity to a vital corner of the funding markets Sept. 19, helping rates retreat further as investors warn that fresh bouts of stress remain possible in the weeks ahead. Read more...
19 Sep Rail, Intermodal Providers Add Technology, Improve Operations to Boost Efficiency LONG BEACH, Calif. — Rail and intermodal providers said they are increasing speed and efficiency to become more competitive, and technology is helping them improve operations. Read more...
19 Sep Unemployment Filings Rise at Lower-Than-Expected Rate Filings for U.S. unemployment benefits rose less than estimated and remained around historically low levels, offering the latest signs that the labor market is holding up. Read more...
19 Sep Energy Efficiency Across Transportation Sector Focus of House Hearing Congressional support for technologies that promote energy efficiency is key to reducing emissions across the transportation landscape, industry stakeholders told a House panel Sept. 18. Read more...
19 Sep UPS Shipments Swell in Amazon Era A $20 billion investment spree detailed by UPS CEO David Abney last year, a plan that initially rattled Wall Street, is bearing fruit. Profit margins are improving even as 112-year-old Big Brown copes with swelling volume from voracious online shoppers, who are typically less lucrative to serve than business customers. Read more...
19 Sep IMO 2020 Could Shift Freight Patterns, Increase Costs LONG BEACH, Calif. — A panel representing the shipping industry spoke about the looming International Maritime Organization mandate that will require cargo vessels to burn low-sulfur diesel, and shippers and carriers said the requirements could lead to price increases or the rerouting of freight. Read more...