04 Aug Oil Jumps as Lebanon Explosion Signals Geopolitical Instability Oil extended its rally and hit a two-week high after an explosion at Lebanon’s main port rocked the capital Beirut, pointing to geopolitical instability in the region. Read more...
04 Aug Tropical Storm Isaias Drives Wild Weather Up Interstate 95 WINDSOR, N.C. — Tropical Storm Isaias spawned tornadoes and dumped rain along the U.S. East Coast on Aug. 4 after making landfall as a hurricane in North Carolina, where it smashed boats together and caused floods and fires that displaced dozens of people. At least two people were killed when one of its twisters hit a mobile home park. Read more...
04 Aug Wilks Brothers Swoop In With Competing Offer for Calfrac Wilks Brothers has made a competing proposal to recapitalize struggling energy company Calfrac Well Services Ltd. and criticized management’s deal as favoring insiders. Read more...
04 Aug Meritor Reaches Brake Shoe Production Milestone Meritor Inc. recently produced its 100 millionth brake shoe at its Plainfield, Ind., manufacturing facility. Read more...
04 Aug Senate Panel to Consider USDOT IG Nominee Eric Soskin President Donald Trump’s nominee to lead the U.S. Department of Transportation’s internal watchdog division is scheduled to appear before a Senate panel Aug. 6. Read more...
04 Aug Eaton Posts Q2 Operating Loss in Vehicle Unit Power management company Eaton Corp. reported sharp drops in net income and revenue in the second quarter as the novel coronavirus pandemic cut vehicle production at key customers. Read more...
04 Aug Shale Driller Sells Gas Fields for Fraction of Purchase Price Range Resources Corp. is selling its Louisiana shale fields for about one-tenth of what it paid for them just four years ago as depressed natural gas prices hammered the heavily indebted driller. Read more...
04 Aug FAA Spells Out Design Changes Needed in Grounded Boeing Jet Federal regulators on Aug. 3 outlined a list of design changes they will require in the Boeing 737 Max to fix safety issues that were discovered after two deadly crashes that led to the worldwide grounding of the plane. Read more...
04 Aug DOT Funds Four New University Transportation Centers The U.S. Department of Transportation announced $4.9 million in funding has been awarded to support four new University Transportation Centers. Read more...
04 Aug YRC Posts Q2 Declines Losses at YRC Worldwide Inc. widened in the second quarter amid the economic fallout of the COVID-19 pandemic, but the company said federal loans it received under coronavirus relief efforts will help position it to emerge healthier from the downturn. Read more...