22 Jul Uber Freight to Acquire Logistics Firm Transplace for $2.25 Billion Uber Technologies Inc.’s freight business will acquire logistics technology firm Transplace from TPG Capital for $2.25 billion, the company announced July 22. Read more...
22 Jul Infrastructure Stakeholders Promote Cybersecurity Investments Nearly three months after a cyberattack against a prominent petroleum products distributor on the East Coast, groups representing various infrastructure sectors called for robust methods to protect the country’s freight and mobility grids. Read more...
22 Jul Jobless Claims Rise to 419,000 From a Pandemic Low WASHINGTON — The number of Americans seeking unemployment benefits rose last week from the lowest point of the pandemic, even as the job market appears to be rebounding on the strength of a reopened economy. Read more...
22 Jul Mercedes Sketches Out All-Electric Scenario by Decade’s End FRANKFURT, Germany — Daimler AG’s luxury car brand Mercedes-Benz is stepping up its transition to electric cars, doubling the planned share of sales by 2025 and sketching out a market scenario in which new car sales would “in essence” be fully electric by the end of the decade. Read more...
21 Jul Landstar Reports Record Earnings for Q2 Landstar System on July 21 reported an all-time quarterly record for net income during the second quarter. “Second quarter set a new standard as the best quarterly financial performance in our history,” CEO Jim Gattoni said in a statement. Read more...
21 Jul Knight-Swift Reports Surge in Q2 Earnings Knight-Swift Transportation Holdings saw growth throughout the company, including a 90.6% increase in net income during the second quarter, the company reported July 21. Read more...
21 Jul Lumber Surges Anew as Canada Wildfires Snarl Shipments Lumber futures rose the most in more than a year on concern that wildfires in western Canada will reduce supply and spur more curtailments at sawmills. Read more...
21 Jul Senate Commerce Leaders Push Supply Chain Efficiency To promote efficiency across the country’s supply chain, Commerce Committee Chairwoman Maria Cantwell recently pressed colleagues to advance legislation meant to enhance the flow of freight. Read more...
21 Jul Volvo Group Earnings Rise on Global Vehicle Sales Volvo Group reported strong second-quarter earnings and revenue as sales in its global vehicle-related segment rose 41% compared with a year earlier. Read more...
21 Jul Proposed Merger Dominates CN Financial Report Canadian National Railway reported an increase in second-quarter net income and revenue, and for the second period in a row company leaders spent significant time detailing for analysts the value of the company’s $33.7 billion merger with Kansas City Southern. Read more...