04 May US Economy Sliding Further, Experts Say The U.S. economy is likely in the midst of its deepest recession since the end of World War II, when modern records that tracked the nation’s gross domestic product and unemployment rates were standardized. Read more...
04 May Meatpackers Cautiously Reopen Plants Amid Coronavirus Fears A South Dakota pork processing plant took its first steps toward reopening May 4 after being shuttered for more than two weeks because of a coronavirus outbreak that infected more than 800 employees. Read more...
04 May US Airlines Tumble After Buffett Abandons Bet on Industry U.S. airline stocks plummeted May 4 after Warren Buffett dumped his stakes in the four biggest carriers, saying the industry’s prospects had been upended by the coronavirus pandemic. Read more...
04 May XPO to Cease Operations at Pennsylvania Warehouse XPO Logistics will cease operations at its warehouse in Bethel Township, Pa., this month, according to a notice it filed March 11 with the Pennsylvania Department of Labor & Industry. Read more...
04 May Hub Group Posts Dips in Revenue, Net Income in First Quarter Hub Group reported double-digit declines in profits and revenue during the first quarter as it saw a drop in intermodal revenue and a decrease in its truck brokerage business. Read more...
04 May New Life Adds UBLights to Product Line New Life Transport Parts Center has added the UBLights product line as a cost-effective alternative to its existing lighting and safety portfolio, available through its distribution network. Read more...
01 May Automakers Avoid Disaster With 0% Financing Zero-percent auto financing deals hit a record last month as carmakers kept the U.S. auto market from collapsing. Read more...
01 May Mississippi DOT Starts Work on Highway Construction Project The Mississippi Department of Transportation recently began a construction project to extend state Route 76 as part of a regional highway development effort. Read more...
01 May U.S. Steel Foreshadows Blue-Collar Pain With 2,700 Layoffs U.S. Steel Corp. expects to lay off about 2,700 employees as the virus forces the company to idle most of its blast furnaces. Read more...
01 May Universal Logistics Reports Revenue Increases, but Net Income Falls in Q1 Universal Logistics Holdings saw revenue increase but net income decline during a first quarter marked by what its leader described as a “deteriorating operating environment caused largely by the COVID-19 pandemic.” Read more...