22 Apr Facebook’s $6 Billion India Bet Kindles E-Commerce War With Amazon, Walmart Facebook Inc.’s $5.7 billion investment in a unit of India’s Reliance Industries Ltd. creates an e-commerce leviathan to take on Amazon .com and Walmart Inc. in one of the world’s most competitive internet arenas. Read more...
22 Apr March Container Volumes Fall Sharply at Nation’s Major Ports The nation’s major ports suffered the full economic impact of the coronavirus in March as global trade practically came to a halt. Read more...
22 Apr As Residents Stay Home, State DOT Work Presses On Despite the coronavirus pandemic, many state transportation construction programs are progressing on schedule and, in some cases, have exceeded timeline expectations. Read more...
21 Apr Trucking to Play Critical Role in Restarting Economy, ATA’s Chris Spear Says The trucking industry will play a critical role in the development and implementation of plans to restart the country’s struggling economy, American Trucking Associations President Chris Spear said. Read more...
21 Apr Senate Approves $484 Billion in Additional Coronavirus Aid The Senate approved a new $484 billion pandemic relief plan with funds for a tapped-out small business aid program, and aid for coronavirus testing and overwhelmed hospitals. A House vote is expected as soon as April 23. Read more...
21 Apr Trucking Adjusts in Cities Hit Hardest by the Coronavirus Fleet operations have had to be nimble to navigate amid disruptions caused by the novel coronavirus, particularly in hard-hit cities such as New York, San Francisco, New Orleans and Detroit. Read more...
21 Apr Freight Groups Push for Inclusion in ‘Heroes Fund’ Two groups integral to the distribution of fuel in the country called on Congress to include them in a proposal that would provide essential personnel $25,000 in compensation during the pandemic. Read more...
21 Apr OPEC+ Ministers Hold Impromptu Call to Reflect on Price Rout Oil ministers from the OPEC+ coalition held an unscheduled conference call on April 21 to discuss the collapse in crude prices, though a closing statement signaled they didn’t settle on any new policy measures. Read more...
21 Apr China’s Air Travel Rebound Stalls on Lack of Leisure Demand A recovery in demand for flights within China is stuck at about 45% of pre-coronavirus levels as people continue to shun leisure trips after the outbreak. Read more...
21 Apr Paccar Sees Q1 Net Income, Sales Fall Paccar Inc. reported lower net income and revenue in the first quarter as it reacted to weaker demand and the coronavirus, leading to temporary plant closures and lower truck deliveries. Read more...