26 Nov FedEx Disputes Report on Federal Taxes Paid in 2018 The CEO of FedEx Corp. came out swinging after a news report called into question the company’s track record on capital investments and tax payments in the wake of federal tax reform efforts. Read more...
26 Nov Cummins to Lay Off 2,000 Salaried Workers Two thousand salaried Cummins employees will be laid off in the first quarter of 2020, the Columbus, Ind.-based engine manufacturer announced Nov. 25. Read more...
26 Nov Congress Faces New Deadline Amid Calls for Major Highway Legislation Congressional leaders in Washington again have packed the final weeks of the year with major legislative items as the top transportation policymakers in the U.S. Senate urge passage of comprehensive highway legislation. Read more...
26 Nov Shippers, Carriers Shift Into High Gear for Cyber Monday The holiday shopping season is here, and the big e-commerce day is expected to make shippers busy. Read more...
26 Nov US New-Home Sales Post Two Best Months in More Than 12 Years Buyers snapped up new U.S. homes over the past two months at the fastest pace in more than 12 years, adding to signs of sturdy housing demand amid lower prices and borrowing costs. Read more...
26 Nov US Consumer Confidence Declines for Fourth Straight Month U.S. consumer confidence unexpectedly fell for a fourth straight month as sentiment about current labor-market conditions eased, posing a challenge to retailers heading into the all-important holiday-shopping season. Read more...
26 Nov East Coast Ports Gain Market Share Ports on the East Coast are enjoying an uptick in volume thanks to infrastructure improvements, expanded sea routes and the positive effects that the United States’ ongoing trade war with China are having for other countries, while these same factors are contributing to drop-offs for West Coast ports. Read more...
26 Nov German Automaker Audi to Cut 9,500 Jobs by 2025 BERLIN — Volkswagen subsidiary Audi says it’s cutting 9,500 jobs in Germany through 2025 as part of a transformation plan to make the company “lean and sustainable.” Read more...
26 Nov Mexico Unveils $44 Billion Infrastructure Plan to Boost GDP Mexico President Andres Manuel Lopez Obrador announced an infrastructure plan worth 859 billion pesos ($44 billion) that includes highways, railways, ports and airports as well as investments in telecommunications, with most of the capital coming from the private sector. Read more...
26 Nov Strike Ends as CN Rail, Union Reach Tentative Deal Canadian National Railway and the Teamsters Canada Rail Conference announced Nov. 26 the sides reached a tentative agreement to end the strike by 3,200 CN Rail conductors and yard crews. Read more...