12 Mar Oil Falls Further After Travel Ban Deals Blow to Demand Oil headed for the biggest weekly decline since 2008 after President Donald Trump said the U.S. would restrict travel from Europe for the next 30 days in an attempt to contain the coronavirus, pummeling fuel demand. Read more...
12 Mar China Auto Sales Plunge in February BEIJING — China’s auto sales plunged 81.7% in February from a year ago after much of the economy was shut down to fight a virus outbreak, an industry group reported March 12. Read more...
12 Mar Washington Trucking Community Proceeds With Caution Amid Coronavirus Outbreak Sheri Call, executive vice president of Washington Trucking Associations, said her members are experiencing a slowdown because of COVID-19’s impact on trade with China. Read more...
12 Mar Trading Halted After Stocks Plunge 7% at Open NEW YORK— The S&P 500 dropped about 7% within the first few minutes of trading March 12, steep enough to trigger an automatic halt to trading on the New York Stock Exchange. Read more...
12 Mar Supply Chain Disruptions Rise Due to Virus The coronavirus is having a growing impact on supply chains, according to a new survey by the Institute for Supply Management in a report the Tempe, Ariz.-based nonprofit released March 11. Read more...
12 Mar Stakeholders’ Input Key to Shaping AV 4.0, Says USDOT Nominee Finch Fulton WASHINGTON — Industry stakeholders will assist U.S. Department of Transportation officials in shaping their latest version of guidelines for autonomous vehicles, said Finch Fulton, nominee to become assistant secretary for transportation policy. Read more...
12 Mar Claims for Jobless Benefits Drop by 4,000 WASHINGTON — The number of Americans filing new claims for unemployment insurance fell last week for a second straight week, an indication that the coronavirus had not yet hit the labor market in a major way. Read more...
12 Mar US Wholesale Prices Fall 0.6%, Biggest Decline in Five Years WASHINGTON — U.S. wholesale prices fell 0.6% in February, the biggest decline in five years, led by a sharp drop in energy costs. Read more...
12 Mar UPS Names New CEO; Tomé to Replace Abney UPS Inc. announced that former Home Depot Chief Financial Officer Carol Tomé will replace David Abney as CEO of the company, effective June 1. Read more...
12 Mar Cargo Not Affected as Trump Suspends Travel From Europe to US WASHINGTON — Taking drastic action March 11, President Donald Trump announced he is cutting off travel from Europe to the U.S. and moving to ease the economic cost of a viral pandemic that is roiling global financial markets and disrupting the daily lives of Americans. Restrictions won't apply to cargo. Read more...