26 Jul Senate Committee to Review PTC Implementation Status July 31 The Senate Commerce Committee on July 31 will hear from freight rail industry stakeholders about the status of automatic braking technology. Read more...
26 Jul Amazon’s Spending on One-Day Delivery Dents Profit, Trims Forecast Amazon.com’s results were marred by a surge in costs tied to its one-day delivery push, worrying investors who had grown accustomed to almost two straight years of fattening profits. Read more...
26 Jul Growth Slows to 2.1%, Beating Estimates U.S. economic growth slowed in the second quarter by less than forecast as consumer spending topped estimates, though weaker business investment and exports underscored the risks spurring the Federal Reserve toward an interest-rate cut July 31. Read more...
26 Jul Aluminum Giant’s CEO Sees Trade War’s Lasting Impact on Use The trade war between the U.S. and China that’s clouded the global growth outlook will have a lasting negative effect on aluminum demand, Norsk Hydro ASA CEO Hilde Merete Aasheim said. Read more...
26 Jul China Allows Some Tariff-Free US Cotton, Pork Purchases The Chinese government has approved several domestic companies to buy U.S. cotton, corn, sorghum and pork without being subject to hefty retaliatory tariffs, according to people familiar with the situation. Read more...
26 Jul Best Uses Electric Class 8 to Deliver Container, a First for Port Newark Best Transportation announced it used a Class 8 battery-electric vehicle to deliver a container from Port Newark to a Costco wholesale location within New Jersey without incident, calling it a first at the port and part of the carrier’s ongoing evaluation of electric trucks. Read more...
26 Jul China Rejects FedEx’s Defense for Rerouted Huawei Packages China rebuffed FedEx Corp.’s claims that it mistakenly rerouted some Huawei Technologies Co. packages to the U.S. and warned that authorities found other violations by the American delivery firm, raising concern the company could face repercussions from Beijing. Read more...
25 Jul Werner 2Q Revenue Is Up, but Company Says Freight Volume Is Slowing Werner Enterprises Inc. on July 25 reported net income of $43.3 million, or 62 cents a share, for the quarter ending June 30. The results marked a 13.4% increase from $38.2 million, or 53 cents a share, from the second quarter in 2018. Read more...
25 Jul Universal Logistics Reports 12.9% Increase in Net Income for 2Q Universal Logistics Holdings Inc. reported net income of $20 million for its quarter ending June 29, a 12.9% increase over the same quarter last year. Read more...
25 Jul Ervin Equipment Founder Greg Ervin Dies at 58 Greg Ervin, founder and CEO of Ervin Equipment Inc., died July 18 from injuries suffered in a motorcycle accident near Sweetwater, Tenn. He was 58. Read more...