17 Mar Officials Seek $750B in Economic Aid to Thwart Virus With an urgency unseen since the Great Recession, Congress is rushing to develop a sweeping economic lifeline for American households and businesses suddenly capsized by the coronavirus outbreak. Read more...
17 Mar Truck-Lite Announces Agreement With Star Leasing Truck-Lite Co. announced an agreement with Star Leasing Co. to supply LED lighting and harnessing products as standard equipment on new trailer builds and to integrate its Road Ready telematics system into the fleet’s new and existing trailers. Read more...
17 Mar Recession Coming in Q2 From Coronavirus Impact, Economists Say The U.S. economy is rapidly moving from 121 consecutive months of growth to a recession, the result of consumers and businesses hitting the brakes over mounting fears of the coronavirus. Read more...
17 Mar New York Officials, Trucking Association Take Caution Amid COVID-19 New York, New Jersey and Connecticut have teamed up to institute restrictions on social gathering places. Trucking Association of New York President Kendra Hems said it still is too early to tell what the restrictions’ impacts on the industry will be. Read more...
16 Mar Diesel Falls 8.1¢ to $2.733 a Gallon; Gasoline Drops 12.7¢ The nationwide average price of diesel fuel declined by more than 8 cents per gallon March 16, the U.S. Energy Information Administration announced. Read more...
16 Mar Stocks Plunge 12% in Biggest Rout Since 1987 The stomach-turning ride on global financial markets took a dramatic turn March 16, with U.S. stocks plunging the most since 1987 after President Donald Trump warned the economic disruption from the virus could last into summer. Read more...
16 Mar Amazon to Hire 100,000 to Help Meet Coronavirus-Related Order Spike Amazon .com will hire 100,000 people — and give U.S. workers a $2-an-hour raise — in an effort to meet crushing demand from customers placing online orders for household essentials rather than going to crowded stores. Read more...
16 Mar Canada to Close Border Except for US Citizens, Commerce Canada is closing its borders to anyone who is not a citizen or a permanent resident amid the coronavirus pandemic, Prime Minister Justin Trudeau announced March 16. However, the declaration does not affect the shipment of goods into the country, and for now, U.S. citizens. Read more...
16 Mar Senate Democrats Offer Resolution Opposing NEPA Changes; Industry Stakeholders Push Back Delaware Sen. Tom Carper and fellow Democrats offered a resolution this month expressing their opposition to President Donald Trump’s efforts aimed at streamlining the permitting process outlined by the National Environmental Policy Act. Read more...
16 Mar Oil Supertankers Fetch Astronomical Rates With Vessels Scarce Oil companies are being forced to pay exorbitant prices for oil tankers as shipowners book vessels for storage and Saudi Arabia snaps up ships as it prepares to flood the market with crude. Read more...