General News
Biden Again Calls on Congress to Support Baltimore
President Joe Biden urged lawmakers to approve funds for rebuilding the Port of Baltimore area during Congress’ post-election work period.
DSV Secures $5.4 Billion in Bonds for DB Schenker Deal
The Danish transport company sold a six-part bond deal with maturities ranging from two to 10 years, according to a person familiar with the matter.
VW Proposes 10% Pay Cut in Effort to Avoid Factory Closures
Arne Meiswinkel, the automaker’s chief negotiator, said the plan includes a 10% pay cut and revised bonus system. The measures aim to strengthen the VW brand.
OPEC+ Won’t Bring Back Oil Production This Year, Rystad Says
OPEC and its allies aren’t likely to bring oil output back this year because producers are “making huge money” from refined products, according to Rystad Energy.
Trucking Stakeholders Tackle Biggest Cybersecurity Concerns
CLEVELAND — Trucking is dealing with an evolving cybersecurity environment that raised concerns among industry experts during a panel discussion Oct. 28.
Rust Belt Sees Boom in EV Charging
As electric car sales pick up pace far from the U.S. coasts, a wave of new fast-charging stations is coming online from the Rust Belt down to the Deep South.
Stellantis Pauses Production at Detroit Assembly Complex
Stellantis continued to slash vehicle production and cut jobs in the United States this week, including at the automaker’s Detroit Assembly Complex.
Daimler Truck Says It’s Reviewing China Operations
BERLIN — German commercial vehicle manufacturer Daimler Truck has announced it is reassessing the future of its operations in China.
Refrigerated Rates’ Near-Term Upside Likely Limited: FTR
Rates will improve in 2025, however, as will volumes, FTR Vice President of Trucking Avery Vise said during the research group’s Q4 2024 Food Industry Economic and Transportation Update.
Recruiting Professional of the Year 2024
It’s time to get ready for you to start receiving nominations for the 2024 Transport Topics Recruiting Professional of the Year.
Caterpillar Misses Estimates on Weakening Construction
Caterpillar Inc. posted a third-quarter profit that missed analysts’ expectations as the machinery producer grappled with weakening demand in construction around the world.
Volvo to Take Ownership of Northvolt Battery Joint Venture
Volvo Car is taking over a joint venture with Northvolt to build a factory on Sweden’s west coast, underscoring the major challenges of scaling battery production in the EV market.
Economy Grows at Solid 2.8% Pace on Strong Consumer Spending
WASHINGTON — The U.S. economy grew at a healthy 2.8% annual rate from July through September, with consumers helping drive growth despite the weight of still-high interest rates.
Buttigieg, Lawmakers Tout IIJA on Third Anniversary
Approaching the three-year anniversary of the Infrastructure Investment and Jobs Act, Pete Buttigieg is pointing to the law’s impact on communities and commercial corridors.
Colonial Pipeline Weighs Bids for Potential $10B Sale
The Alpharetta, Ga.-based company is working with advisers as it seeks to gauge interest from potential buyers, according to sources who asked not to be named.
Torc Robotics Begins High-Speed, Driverless Truck Testing
Since May, the independent subsidiary of Daimler Truck has been conducting fully driverless truck tests at up to 65 mph on a multilane test track in Texas, the company revealed Oct. 29.
US Grants $2.4B for Rail Infrastructure Upgrades
Most of the money will go to track and bridge upgrades. Some will be used to bolster training and explore cleaner-burning alternatives to the diesel the rail industry has long relied on.
New Indiana, Ireland Pact Seeks Direct Container Service
A business pact to form a container service between Indiana and Ireland was signed recently by officials from the Ports of Indiana and Port of Cork.
New Arizona-Mexico Commercial Port Gets $275M Contract
The U.S. General Services Administration awarded a $275 million contract to create a large commercial border crossing in Arizona to facilitate bilateral trade with copper mines in Mexico.
Holt Truck Centers Expands With Kyrish Acquisition
Following the deal, Holt Truck Centers will have 35 locations, which the parent company said would make it the third-largest International Motors dealership in the U.S.