29 May Trump Moves to Revoke Hong Kong Trade Status, Stoking China Rift President Donald Trump intensified his confrontation with China, vowing to punish the country for the coronavirus pandemic and taking steps to curb Hong Kong’s autonomy by ending the territory’s special trade status with the U.S. and denying visas to Chinese officials. Read more...
29 May Vnomics Expands Fuel Optimization Solution to Telematics Systems Vnomics Corp. is expanding its fuel-optimization product offerings to fleets with telematics systems, the company announced May 27. Read more...
29 May Senate Chairman Roger Wicker Unveils Rural Transportation Bill Senator Roger Wicker introduced a bill that would set up a program to assist rural communities that want to take advantage of DOT financing tools for infrastructure projects. Read more...
29 May Saudi Oil Flood to China Persists Despite Historic Cuts An early look at Saudi Arabia’s crude exports for May shows that historic production cuts have done little to squelch the kingdom’s flood of oil to China, which is just getting back on its feet from the coronavirus. Read more...
29 May European Auto Industry Buckling Up for at Least 35,000 Job Cuts The extent of the devastation wrought on the European car industry by the coronavirus pandemic came into sharp focus May 29 when a sampling of major vehicle and parts manufacturers from France to Sweden revealed plans for at least 35,000 job cuts. Read more...
29 May Uber-Grubhub Deal Hinges on Breakup Fee, Sources Say Uber Technologies Inc. and Grubhub Inc. are haggling over a breakup fee after nearing an agreement on a merger price, according to people familiar with the matter. Read more...
29 May US Consumer Spending Plunges While Stimulus Boosts Incomes U.S. consumer spending, which accounts for about two-thirds of the world’s largest economy, plunged in April by the most on record after the coronavirus pandemic halted purchases of all but the most essential goods and services. Read more...
29 May GSA to Expand California’s Busiest Truck Checkpoint The General Services Administration is preparing to start work on an expansion project for the Otay Mesa Land Port of Entry, California’s busiest border crossing point for commercial trucks. Read more...
28 May Driving Hasn’t Found Its New Normal Yet, NHTSA Data Shows Memorial Day weekend, the typical start of the U.S. summer driving season, has come and gone. Data on just how much driving Americans did is trickling in, and it’s a bit noisy. Read more...
28 May New Economic Data Show How Deep and Fast Recession Began Just how deep and swift the U.S. economy’s plunge into a recession has been since the coronavirus pandemic hit the nation was evidenced by a number of reports, including that millions continued to apply for unemployment benefits. Read more...