09 Jul Utah Trucker Already Under Indictment Faces New Fraud Charges A Utah trucking company owner already under federal indictment for his participation in a “pay-to-play” scheme has been charged with lying on a federal loan application to secure a $210,000 COVID-19 small business loan under the federal Paycheck Protection Program. Read more...
09 Jul Musk Says Tesla Is ‘Very Close’ to Developing Fully Autonomous Vehicles Tesla Inc.’s Elon Musk said the carmaker is on the verge of developing technology to render its vehicles fully capable of driving themselves, repeating a claim he has made for years but been unable to achieve. Read more...
09 Jul Layoffs Stuck at High Level as 1.3 Million Seek Jobless Aid More than 1.3 million Americans applied for unemployment benefits last week, a historically high pace that shows that many employers are still laying people off in the face of a resurgent coronavirus. Read more...
08 Jul United Air Says 36,000 US Jobs at Risk Once Aid Ends United Airlines Holdings Inc. notified 36,000 employees, or 45% of its U.S. workforce, that their jobs are at risk after federal payroll aid expires at the end of September. Read more...
08 Jul Transportation Funding Bill Would Increase FMCSA Budget FMCSA would receive $881 million for operations during the next fiscal year under legislation a House panel approved July 8. Read more...
08 Jul Energy Transfer Says It Won’t Shut Dakota Access Despite Ruling Energy Transfer LP said it’s not making any moves to empty its Dakota Access oil pipeline after a judge July 6 ordered the conduit shut while a more robust environmental review is conducted. Read more...
08 Jul What a Manufacturing Shift Away From China Could Mean for Trucking How will U.S. trucking be affected if certain businesses move out of China and into other parts of Asia or even to North America? Read more...
08 Jul Oil’s Recovery Capped by Stubborn US Crude Glut, Dour Demand Oil’s recent rally has hit a ceiling, with U.S. crude inventories holding near a record high and gasoline demand still at the weakest seasonal level in more than 20 years. Read more...
08 Jul May Extends Slide in Used Class 8 Truck Prices The year-over-year average price of a used Class 8 vehicle fell for the 13th consecutive month in May. Sales at retail outlets held up, while inventories headed down because there was no deluge of equipment flooding the market as a casualty of the COVID-19 pandemic, ACT Research reported. Read more...
08 Jul Tesla Pushes China’s EV Bubble Closer to Bursting Tesla Inc.’s new Shanghai plant has churned out super-popular Model 3 electric sedans for the past six months, catapulting the company atop the sales chart and piling the pressure on cash-strapped local rivals. There was another casualty last week. Read more...