General News
Dockworkers at East Coast Ports to Resume Negotiations
The union representing dockworkers in East Coast ports is set to return to the bargaining table next month, part of an arrangement reached after a three-day strike was suspended Oct. 3.
Daimler Truck, Volvo Launch Joint Vehicle Software Venture
STUTTGART, Germany — German commercial vehicle giant Daimler Truck and Swedish rival Volvo will develop software for trucks and other commercial vehicles with a new joint venture.
As Crude Fades, Big Oil Must Borrow to Pay Investors
Weaker crude prices and refining margins are likely forcing four of the five supermajor oil companies to borrow money to fund $15 billion in share buybacks for the most recent quarter.
Universal Reports Year-Over-Year Growth Amid Weak Market
Universal Logistics Holdings inched up third-quarter revenue and earnings despite weak market conditions, the company reported Oct. 24.
VW Plans to Close Three German Factories
Volkswagen AG plans to close at least three factories in Germany as Europe’s biggest automaker tries to slash expenses to become more competitive.
Truck Maker Scania Plans Complete Shift to Northvolt
Volkswagen’s truck manufacturing brand Scania plans to equip all its future electric trucks with Northvolt batteries, in a vote of confidence for the cash-strapped Swedish battery maker.
Saia Reports Q3 Revenue Growth Amid Network Expansion
Saia Inc. reported Oct. 25 that it was able to post record-high third-quarter revenue amid an ongoing effort to expand its operational footprint.
Anchorage’s International Airport Adds 5 Carriers
The Ted Stevens Anchorage International Airport has added five new international cargo carriers to its lineup this year, setting the stage for continued growth.
German Shipping Giant Hapag-Lloyd Posts Higher Profits
HAMBURG, Germany — The German shipping company Hapag-Lloyd has raised its profit forecast for the current financial year because of rising freight rates.
Hyundai Nexo SUV Recalled Over Potentially Explosive Leak
Hyundai is recalling its hydrogen-powered Nexo SUV model in the United States for a fix after safety watchdogs warned of a potentially explosive fuel leak.
Port of New Orleans Names CEO
Beth Ann Branch of Port of Mobile was chosen as the next CEO of the Port of New Orleans and Public Belt Railroad, putting a former Gulf Coast rival at the helm in New Orleans as it tries to win a greater share of the container shipping business in the region.
Samsara Releases AI-Enabled Drowsy Driving Detection
Fleet technology provider Samsara has released a new safety feature that proactively detects and mitigates drowsy driving through artificial intelligence.
Waymo Closes $5.6 Billion Funding Round
Waymo, Alphabet Inc.’s autonomous driving unit, raised $5.6 billion from investors, its largest-ever funding round.
Tesla Targets Full Semi Production by End of 2026
Tesla expects production of its Semi Class 8 tractor to accelerate to full throttle by the end of 2026, according to a senior executive, as the automaker offers more details about the vehicle.
VW’s Scout Motors Adds New Hybrid Models
Volkswagen AG’s forthcoming Scout line of battery-powered sport utility vehicles and pickup trucks is adding gasoline-fueled internal combustion engines to the mix.
Mississippi River Dries Up Again at Worst Time for Farmers
The Mississippi River is suffering from low waters for the third straight autumn, a crucial time of year when American farmers rely on the route to deliver their crops to the world.
Ship Owner in Baltimore Bridge Collapse to Pay $102 Million
WASHINGTON — The owner and manager of the cargo ship that caused the deadly Baltimore bridge collapse have agreed to pay more than $102 million in cleanup costs to settle a DOJ lawsuit..
Biden Greenlights Lithium Mine in Race to Secure Supply
Ioneer Ltd.’s Rhyolite Ridge Lithium-Boron Project in Nevada has received its federal permit from the Bureau of Land Management, according to a company statement Oct. 24.
Ryder Q3 Profit Slides Even as Acquisitions Boost Revenue
Looking forward, Chief Financial Officer John Diez said Ryder expects earnings growth in the fourth quarter as a result of its contractual portfolio.
GM Sees Timing Issue as Canada Reduces EV Rebates
“Just as mandates and regulations start to bite, the timing is not necessarily lining up very well, in that the purchase incentive support comes off,” GM Canada's president said.