16 Sep Trucking Targets 'Nuclear' Verdicts The trucking industry is making gains in its fight against the plaintiffs bar and the increasing size of jury verdicts levied against motor carriers, but those in the trenches say the battle is not over. Read more...
16 Sep Senate Panel Advances USDOT IG Nominee Eric Soskin Eric Soskin, the nominee to become the watchdog at the U.S. Department of Transportation, received approval by a Senate panel Sept. 16. Read more...
16 Sep Fed Signals Rates Will Stay Near Zero for at Least Three Years The Federal Reserve left interest rates near zero and signaled it would hold them there through at least 2023 to help the U.S. economy recover from the coronavirus pandemic. Read more...
16 Sep Oil Surges With High Hopes Ahead of Federal Reserve Meeting Oil extended gains above $40 a barrel in New York as shrinking crude stockpiles and speculation that the Federal Reserve will keep interest rates low raised hopes that an economy ravaged by the pandemic may be on the mend. Read more...
16 Sep Fleets Face More Aerodynamic Options for Tractors, Trailers The role of aerodynamic devices to boost fuel efficiency and reduce emissions has been tapped, but not exhausted, for tractors and trailers, the North American Council for Freight Efficiency found in recently released updates of two confidence reports first issued in 2016. Read more...
16 Sep GM Introduces ‘Ultium Drive’ to Power EVs General Motors Co.'s future electric vehicles are expected to be powered by five drive units and three motors known as “Ultium Drive,” which will help the company transition its lineup to all-electric, the automaker said Sept. 16. Read more...
16 Sep DOT Announces $1 Billion in BUILD Grants Transportation Secretary Elaine Chao announced that $1 billion in funding has been awarded through the Better Utilizing Investments to Leverage Development program. Read more...
16 Sep Amazon Plans to Put 1,000 Warehouses in Suburban Neighborhoods The facilities, which will eventually number about 1,500, will bring products closer to customers, making shopping online about as fast as a quick run to the store. Read more...
16 Sep Hurricane Sally Unleashes Flooding Along the Gulf Coast Hurricane Sally lumbered ashore in Alabama with 105 mph winds and torrential rain Sept. 16, swamping homes and trapping people in high water along the Gulf Coast as it crept inland for what could be a long, slow and disastrous drenching across the Deep South. Read more...
16 Sep Retail Sales Rise for 4th Straight Month as Growth Slows Americans kept spending in August, but the pace of that growth is slowing as millions of people who lost jobs have now lost a $600-a-week boost in their unemployment checks. Read more...