03 Dec Elon Musk’s $139 Billion Fortune Leads Huge EV Wealth Gains Elon Musk’s dizzying ascent in 2020 hit a new peak this week as he’s about to become the head of an S&P 500 Index company. That’s just days after surging to the second-richest person on the planet with a $139 billion fortune. Read more...
03 Dec US Jobless Claims Drop, Offering Ray of Hope for Labor Market Applications for U.S. state unemployment benefits fell by the most in almost two months, offering some hope that the gradual recovery in the job market will continue despite a spike in COVID-19 infections and renewed business restrictions. Read more...
03 Dec Property Carrier Brokers Fight Attempts to Make Public Their Pricing Documents The Transportation Intermediaries Association is asking federal regulators to sunset a decades-old regulation that the group argues is out of alignment with today’s brokerage marketplace. Read more...
02 Dec XPO Logistics Plans to Split Into Two Companies XPO Logistics Inc. plans to split into two by spinning off its logistics business in a tax-free transaction that will create a separate publicly traded company. Read more...
02 Dec FedEx to Buy ShopRunner in E-Commerce Push FedEx Corp. has agreed to acquire ShopRunner, an e-commerce service that provides shipping for more than 100 brands, as the courier seeks to deepen its ties with online shoppers. Read more...
02 Dec Maine Earns C-, West Virginia Gets D on ASCE Infrastructure Report Cards The American Society of Civil Engineers on Dec. 2 released infrastructure report cards for Maine and West Virginia, both of which reflect challenges associated with aging infrastructure and financial needs. Read more...
02 Dec Penske Logistics to Acquire Black Horse Carriers Penske Logistics announced it reached an agreement to acquire Chicago-based trucking company Black Horse Carriers Inc. Read more...
02 Dec Fed Sees Moderate Growth With Virus Causing Slowdowns The U.S. economic recovery remained moderate across much of the country, and showed signs of a slowdown in areas where coronavirus cases are particularly high, according to a Federal Reserve report. Read more...
02 Dec Congestion, Slowdown at Ports Cause Growing Concern Many of the nation’s ports, especially on the West Coast, are reporting long delays to unload cargo ships, and warehouses near those facilities are filled as the supply chains are overloaded with goods. Read more...
02 Dec Jason’s Law Survey Shows Truck Parking Remains a Challenge A five-year update to a major parking availability survey for truck drivers had pretty much the same bottom line: There remains an overall critical shortage of parking spaces for truck drivers. Read more...