20 May CP Rail Declines to Boost Offer, Urges KC Southern to Drop CN Canadian Pacific Railway Ltd. declined to increase its offer for Kansas City Southern and urged the U.S. railroad instead to reject Canadian National Railway Co.’s higher bid because of regulatory risks. Read more...
20 May Initial Jobless Claims Decline to New Pandemic Low Applications for U.S. state unemployment insurance fell last week to a fresh pandemic low, signaling steady improvement in the job market as remaining business restrictions are lifted. Read more...
20 May Texas Senate Passes Bill Aimed at Curbing Lawsuit Abuse of Truckers The Texas Senate has unanimously approved a House bill that would help curb the growing trend of lawsuit abuse targeting commercial vehicles in Texas. Read more...
19 May Waymo Eyes Raising Up to $4 Billion as Leaders’ Exits Sow Doubts Waymo is talking to outside investors about raising as much as $4 billion in additional capital to fuel its self-driving efforts. And the company has discussed plans to eventually list publicly, spinning out from its parent Alphabet Inc., according to people familiar with the plans. Read more...
19 May Hyliion Q1 Results Lack Revenue, but Product Development Accelerates Electrified powertrain company Hyliion reported no revenue in the first quarter ended March 31, but mentioned progress with its product development, as it also noted in its first-ever earnings report for the third quarter and again in Q4. Read more...
19 May States Mobilize to Repair I-40 Bridge, but Closure Likely to Remain for Months The ongoing Interstate 40 bridge closure is a costly interruption for the trucking industry that will likely stretch on for months. Read more...
19 May Capito Sees More Than 50% Chance of Infrastructure Deal President Joe Biden and Senate Republicans have a greater than 50-50 chance of striking a deal on infrastructure, in the view of top GOP negotiator Sen. Shelley Moore Capito. Read more...
19 May Phillips Connect Hires Jon Morrison as Executive Consultant Smart-trailer product developer Phillips Connect announced that former Wabco Americas president Jon Morrison will serve as a strategic executive to the company as it looks to increase its market share in trailer connectivity and support a future with autonomous vehicles. Read more...
19 May Convoy Launches Backup, Spot Services for Drop-and-Hook Convoy launched an automated drop-and-hook service for backup and spot freight to give shippers added flexibility for unexpected demand surges, the digital freight network announced May 19. Read more...
19 May Buttigieg Reinstates Local Hiring Program WASHINGTON — Transportation Secretary Pete Buttigieg on May 19 reinstated an Obama-era pilot program that aims to aid minority and disadvantaged people by ensuring local hiring for public works construction projects, reversing a decision by the Trump administration. Read more...