04 Nov Uber, Lyft Spend Big, Win in California Vote About Drivers LOS ANGELES — Uber, Lyft and other app-based ride-hailing and delivery services spent $200 million in a winning bet to circumvent California lawmakers and the courts to preserve their business model by keeping drivers from becoming employees eligible for benefits and job protections. Read more...
04 Nov Trade Deficit Falls to $63.9 Billion in September The U.S. trade deficit fell in September after hitting a 14-year high in August as exports outpaced imports. Read more...
03 Nov Eaton Exceeds Own Expectations as Net Income, Revenue Fall Eaton Corp. reported lower net income and revenue in the third quarter, but called it a stronger than expected performance. Read more...
03 Nov OPEC President Says Saudis, Russia Push to Delay Supply Hike Algeria, which this year holds the OPEC presidency, said that both Saudi Arabia and Russia were pressing fellow members to prolong the current oil-supply cuts into next year, rather than tapering them as planned. Algeria supported the proposal, the first country to publicly do so. Read more...
03 Nov Expeditors Posts Rise in Profit, Revenue for Q3 Expeditors International of Washington posted third-quarter gains in profit and revenue as the logistics company capitalized on a rebounding economy. Read more...
03 Nov ArcBest Records Increase in Q3 Net Income, Revenue ArcBest Corp. posted gains in net income and revenue in the third quarter as its business rebounded from the economic impact of the coronavirus pandemic. Read more...
03 Nov California Allows Private Sales of Electricity as Motor Truck Fuel Volvo Trucks North America announced it, and other industry associations and companies, helped facilitate the modification of California utility rules to give private entities the ability to sell electricity as a motor fuel at publicly accessible charging stations for medium- and heavy-duty electric vehicles. Read more...
03 Nov ELD Vendors Update Software to Match Modified HOS Rules Before the federal government’s revised hours-of-service rules went into effect Sept. 29, suppliers of electronic logging devices were busy updating their software. Read more...
03 Nov Canadian Trucking Alliance Names Jean-Claude Fortin Chairman Jean-Claude Fortin, president of J.E. Fortin Inc., has been named chairman of the Canadian Trucking Alliance. Read more...
03 Nov Stocks Rally, Crude Oil Jumps on Election Day U.S. stocks rose as a gust of optimism swept through global equity markets as millions of Americans headed to vote. The dollar weakened and crude oil increased by the most in a month. Read more...