17 Mar FedEx Reports Mixed Earnings; Leadership Cites Impact of Coronavirus FedEx announced March 17 that year-over-year quarterly net income for its fiscal third quarter fell 57% to $315 million, compared with $739 million in the same period a year ago. But Q3 revenue rose 3% to $17.5 billion from $17 billion a year ago. Read more...
17 Mar UPS, FedEx Ease Signature Rules to Protect Against Virus FedEx Corp. and UPS Inc. are dropping the normal signature rules for package deliveries to protect customers and workers as the coronavirus outbreak worsens. Read more...
17 Mar Trump: ‘Hopefully We’re Not Going to Need’ National Lockdown A nationwide lockdown to essentially pause public activity for a couple of weeks is not a move President Donald Trump said he is willing to take at this moment as government officials toil to mitigate the spread of the coronavirus. Read more...
17 Mar Trucking Companies Increase Hiring to Bolster Supply Chain Despite the pressure the coronavirus is putting on the economy, some transportation-related companies are hiring. Read more...
17 Mar US Revises Passenger Safety Rules for Autonomous Vehicles The U.S. government is coming out with new regulations aimed at changing automotive passenger safety standards that could be barriers to autonomous vehicles. Read more...
17 Mar Waymo Pauses Most Operations in Response to COVID-19 Waymo is pausing most operations in Arizona and California in response to the coronavirus outbreak, the company announced March 17. Read more...
17 Mar Musk Keeps Tesla Open in Shutdown Zone, Downplays Virus Risk Tesla Inc.’s factory and other California operations will remain open in spite of a San Francisco Bay Area lockdown, with Elon Musk telling employees he will keep going in to work despite the spread of the coronavirus. Read more...
17 Mar Boeing Seeks US Aid Plus Help for Suppliers, Airlines Boeing Co. has asked White House and congressional officials for short-term aid for itself, suppliers and airlines as the outlook for the travel industry worsens by the day because of the coronavirus outbreak, people familiar with the matter said. Read more...
17 Mar Trump Pushes $1.2 Trillion Stimulus, $1,000 Checks in Two Weeks The Trump administration is discussing a plan that could amount to as much as $1.2 trillion in spending — including direct payments of $1,000 or more to Americans within two weeks — to blunt some of the economic impact of the widening coronavirus outbreak. Read more...
17 Mar VW Shutters Europe Plants as Pandemic Slams Auto Industry Volkswagen AG will halt production at its plants in Europe, deepening the economic pain the rapidly spreading coronavirus is inflicting on the struggling car industry. Read more...