03 Mar Ford Bans All Business Trips After Two Employees Contract Coronavirus Ford Motor Co. has banned all air travel for business after two of its employees in China contracted the coronavirus. Read more...
03 Mar Meritor, Wabash Stay Focused on Now and When ATLANTA — Key executives from global commercial vehicle supplier Meritor Inc. and trailer manufacturer Wabash National Corp. said evolution and revolution are happening simultaneously in the trucking industry — and it is their job to keep track of both at once. Read more...
03 Mar Sysco Approaches Germany Firm Metro About Takeover Sysco Corp. has approached German wholesaler Metro AG about a takeover, as the U.S. food distribution giant explores ways to expand in Europe, people with knowledge of the matter said. Read more...
03 Mar Alphabet’s Waymo Raises $2.25 Billion for Driverless Cars Waymo raised $2.25 billion from a slate of private equity investors, venture capitalists and automotive companies, the first time Alphabet Inc.’s autonomous vehicle unit has taken outside funds. Read more...
03 Mar FMCSA Advances Final Rule on HOS to the White House The Federal Motor Carrier Safety Administration has sent a final rule on changes to hours-of-service regulations to the White House. Read more...
03 Mar VersaCold Weighs $500 Million Sale Amid Storage Buzz VersaCold, one of Canada’s largest providers of cold storage, is exploring a potential sale that could fetch $500 million or more, according to people with knowledge of the matter. Read more...
03 Mar Fed Cuts Rates Half Point in Emergency Move Amid Spreading Virus The U.S. Federal Reserve delivered an emergency half-percentage point interest rate cut March 3 in a bid to protect the longest-ever economic expansion from the spreading coronavirus. Read more...
03 Mar Majority of Promising AI Startups Are Still Based in the US The most promising startups using artificial intelligence are U.S.-based companies working in the fields of health care, retail and transportation, according to a study that looked at budding AI companies around the world. Read more...
03 Mar Nikola Plans Merger With Publicly Traded VectoIQ Acquisition Corp. Nikola Corp. announced plans to merge with VectoIQ Acquisition Corp., a publicly traded special-purpose acquisition company, to speed up Nikola’s production of zero-emissions commercial vehicles. Read more...
03 Mar CRST Buys New Jersey-Based Final-Mile Logistics Company NAL Group CRST International has acquired NAL Group, a final-mile logistics company headquartered in Edison, N.J. Read more...