27 May Trucking Begins to Rise Off the Bottom Present conditions signal the bottom of the pandemic’s vertiginous drawdown of the freight market, trucking industry observers said. But other economic conditions, in place earlier in 2019 and 2020, remain as a potential drag. Read more...
27 May US Says Hong Kong’s Autonomy Is Gone The U.S. has certified that Hong Kong is no longer politically autonomous from China, a move that could have far-reaching consequences on the former British colony’s special trading status with the U.S., Secretary of State Michael Pompeo said. Read more...
27 May Trucking Companies Adapt to Coronavirus Realities Trucking companies have been nimble in adopting changes to their operations both on the road and in the office as a result of the COVID-19 outbreak, industry executives said. Read more...
27 May Boeing Begins Cutting Workforce With 6,770 Layoffs in US Boeing Co. unveiled the first and deepest of its planned job cuts, saying it would notify 6,770 employees in the U.S. this week that their positions would be eliminated. Read more...
27 May Most Railroads Nearing Positive Train Control Implementation Positive train control technology is either in advanced field testing or operational on 98% of the required route miles mandated by Congress, according to an assessment. Read more...
27 May Oil Declines From 11-Week High Russia’s lack of support for continuing global production curbs in July punctured oil’s rally to a nearly three-month high and raised questions about OPEC+’s ability to drain a massive supply glut. Read more...
27 May DOT Issues TIFIA Loan for Oklahoma Expressway Project The U.S. Department of Transportation recently announced it will provide a loan for up to $120.1 million to the Oklahoma Turnpike Authority for an expressway project in the Tulsa area. Read more...
27 May Amazon Buying Zoox May Save $20 Billion, Put Tesla on Its Heels Amazon .com Inc.’s talks to buy driverless vehicle startup Zoox Inc. has analysts speculating the deal could save the e-commerce giant tens of billions a year and put auto, parcel and ride-booking companies on their heels. Read more...
27 May Port Authority of New York, New Jersey Gets Congressional Support for Aid Request Twenty-seven members of Congress representing the states of New York and New Jersey are asking leaders in the House and Senate to include $3 billion in relief funds for the Port Authority of New York and New Jersey in a future coronavirus financial aid package. Read more...
27 May SCDOT Projects Losing Millions in Revenue Because of COVID-19 The South Carolina Department of Transportation is projecting to lose millions of dollars in revenue because of the COVID-19 pandemic’s impact on motor fuel taxes and car sales taxes, according to transportation officials. Read more...