20 Aug Jobless Claims Unexpectedly Increase to More Than 1 Million Applications for U.S. unemployment benefits unexpectedly increased last week, a stumble for the labor market in its long road to recovery. Read more...
20 Aug IMCC Sues OCEMA, Ocean Carriers for Up to $1.8 Billion in Chassis Dispute American Trucking Associations’ Intermodal Motor Carriers Conference on Aug. 17 filed a federal lawsuit against the Ocean Carrier Equipment Management Association and 10 international ocean carriers, alleging they colluded to manipulate the intermodal chassis market at dozens of ports across the country. Read more...
19 Aug Carriers Get Extension to Rid Systems of Chinese Technologies The Director of National Intelligence has extended the deadline to Sept. 30 for a requirement that motor carriers that do business with the federal government locate and purge telecommunications equipment manufactured by five Chinese companies that may be in use in their operations. Read more...
19 Aug White House Open to $25 Billion for USPS, McEnany Says The Trump administration is willing to consider the Democrats’ plan to spend $25 billion on the U.S. Postal Service — as long as lawmakers also provide other coronavirus relief sought by the White House, said spokeswoman Kayleigh McEnany. Read more...
19 Aug Fed Minutes Note Consumer Spending Rebound, Uncertainty U.S. central bankers noted the rebound in consumer spending at their last meeting but repeated their view that the path of the recovery would depend on containment of the virus. Read more...
19 Aug Infrastructure Investments Possible Under Biden, Sen. Chuck Schumer Says The top Democrat in the U.S. Senate argued investments in infrastructure networks would be achievable in Congress under a Joe Biden administration and Democratic majority. Read more...
19 Aug World’s Largest Offshore Rig Owner Valaris Goes Bankrupt Valaris Plc became the latest casualty of the global slump in oil prices, filing for bankruptcy Aug. 19 as the world’s largest offshore rig owner by fleet size seeks to restructure a roughly $7 billion debt load. Read more...
19 Aug States Sue Trump Over USPS Even as Changes Paused More than a dozen states sued President Donald Trump over changes at the U.S. Postal Service that they said trampled federal law and threatened delivery of mail-in ballots, even after Postmaster General Louis DeJoy pledged to delay the moves until after the November election. Read more...
19 Aug Lawmakers Seek Investigation of Military Moving Contract Re-Award Several members of Congress have written letters requesting further investigation into the award of a $7.2 billion Department of Defense contract to a company they claim lacks the experience to move an estimated 400,000 members of the military and their families and DOD employees across the globe each year. Read more...
19 Aug Maersk Lifts Profit Outlook in Sign of Pandemic Resilience The world’s largest container line may generate $1.5 billion more in operating profit this year than previously expected, as its business proves resilient to the COVID-19 crisis. Read more...