31 Jan Amazon Establishes Air Cargo Hub in Kentucky Online retailer Amazon.com is building a new centralized air cargo hub at the Cincinnati/Northern Kentucky International Airport to support the company's growing fleet of cargo planes. Read more...
31 Jan C.H. Robinson Profits Drop in Fourth Quarter But Beat Earnings Forecasts C.H. Robinson Worldwide began the third-party logistics reporting season with a 3.4% decline in profits for the fourth quarter compared with 2015 but fared better than the forecast outcome from industry analysts. Read more...
31 Jan Caterpillar to Move Headquarters From Longtime Home to Chicago Caterpillar Inc. will move its global headquarters to the Chicago area from its longtime home in central Illinois this year, the company said on Jan. 31, as it continues to grapple with weak demand for its earth-moving equipment. Read more...
31 Jan Paccar Remains Profitable But at Lower Levels Revenue and net income declined at global truck manufacturer Paccar Inc. for the fourth quarter and the year, but the Bellevue, Washington-based corporation did remain profitable in both periods. Read more...
31 Jan Senate Confirms Elaine Chao as Department of Transportation Secretary The country's top transportation officer will be Elaine Chao after the Senate voted to confirm her Jan. 31. Read more...
31 Jan Daimler, Uber to Partner on Self-Driving Cars Car and truck maker Daimler AG plans to introduce and operate self-driving cars on Uber's ridesharing network "in the coming years" under a new partnership between the companies. Read more...
31 Jan California Town Vows to Rid Itself of Hanjin Shipping Containers by Year's End Ontario, California's legal team vows that hundreds of abandoned shipping containers, illegally stored at four industrial yards in the agricultural southern part of town, will be gone by the end of the year. Read more...
31 Jan Consumer Confidence Eases From More Than 15-Year High Consumer confidence retreated in January from a more than 15-year high as Americans tempered their economic expectations and waited for President Trump and lawmakers to deliver on promises to boost employment and jump-start growth, data from the New York-based Conference Board showed Jan. 31. Read more...
31 Jan Roadrunner Admits to Accounting Error; Analysts Suspend Recommendations Roadrunner Transportation Systems Inc. announced that it must fix quarterly and annual earnings reports from 2014 until the present due to accounting errors, just two months after the company admitted to miscalculating the leverage ratio on its debt. Read more...
31 Jan UPS Posts 27-Cent Quarterly Loss on Pension Adjustment UPS Inc. lost $239 million, or 27 cents a share, in the fourth quarter due to a one-time "mark to market" charge on pension assets, decreasing net income by $1.67 billion from what was an otherwise profitable period. For the same issue at the end of 2015, the charge decreased profitability by $79 million. Read more...