30 Jul Tesla to Pay China $323 Million a Year in Tax for Factory Site Tesla Inc. agreed to pay China 2.23 billion yuan ($323 million) in tax every year as part of a deal with local authorities to build an electric vehicle factory on the outskirts of Shanghai. Read more...
30 Jul Consumer Spending, Incomes Post Solid Gains in June Consumer spending rose a healthy 0.3% in June, slightly below the strong gains of the past three months, while incomes turned in a solid 0.4% gain for the fourth straight month. Read more...
30 Jul Trump Threatens Tougher Tactics With China on Trade President Donald Trump is threatening to get “much tougher” with China on trade if he wins re-election in 2020. Read more...
30 Jul Majority of Trade Aid Went to Biggest Farms, Study Finds More than half of the Trump administration’s trade war aid for farmers went to just 10% of the recipients in the program, according to analysis of payments by an environmental organization. Read more...
30 Jul June Used Class 8 Prices Climb Even as Lots Grow Full At a time of slowing freight volume and an increasingly adequate supply of power units, the average used Class 8 truck still brought a higher sales price in June than in the same month a year earlier, according to ACT Research. Read more...
29 Jul Uber to Cut About 400 Employees, Citing ‘Mediocre Results’ Uber Technologies Inc. said it’s cutting a third of its marketing department globally, as the CEO seeks to address concerns that the business is slowing down. Read more...
29 Jul Diesel Drops by 1¢ to $3.034 a Gallon The U.S. average retail price of diesel dropped by 1 cent to $3.034 a gallon, the Department of Energy reported July 29. Read more...
29 Jul Lyft COO Jon McNeill to Depart Company Jon McNeill, who was hired last year to run Lyft Inc.’s operations, is leaving the company. The founders, who have struggled to retain an operating chief, said they won’t hire a replacement. Read more...
29 Jul Covenant 2Q Transport Revenue Up, Net Income Down Covenant Transportation Group Inc. reported earnings of 33 cents per share on $6.1 million in net income in the quarter ending June 30, the company said in a July 24 news release. Read more...
29 Jul Senate Panel to Consider 5-Year, $287 Billion Highway Bill July 30 The first step to a five-year, $287 billion reauthorization of the 2015 FAST Act highway law is scheduled for July 30 in the Senate, thanks to the leadership of the Environment and Public Works Committee. Here's your Capitol Agenda look at the week ahead for trucking on Capitol Hill. Read more...