Canadian Pacific Railway posted a drop in net income but an increase in revenue for the second quarter, as it confronts renewed opposition to its planned acquisition of Kansas City Southern Railroad.
July 29, 2022GovernmentBusiness
Key Inflation Gauge Reaches 6.8% as Prices Keep Surging
WASHINGTON — An inflation gauge that is closely tracked by the Federal Reserve jumped 6.8% in June from a year ago, the biggest increase in four decades, and leaving Americans with no relief from surging costs.
July 29, 2022GovernmentBusinessTechnologyLogistics
Congress Approves Semiconductor, Supply Chain Bill
Legislation to boost domestic semiconductor manufacturing while improving freight access along the nation’s supply chains was sent to President Joe Biden’s desk July 28.
July 28, 2022Government
USDOT Outlines Infrastructure Funding Availability
Federal funds to enhance safety and connectivity across the country’s mobility networks will become available over the next few months to help state agencies make improvements to freight corridors, and also propel adoption of new technologies throughout the transportation landscape.
July 28, 2022GovernmentBusinessTechnologyEquipmentSafetyFuel
The Glider Truck Is Gone, but Not Forgotten
In its heyday, Fitzgerald Glider Kits was the nation’s top glider truck manufacturer, building and selling thousands of the new truck cab bodies powered by older rebuilt engines.
July 28, 2022GovernmentBusinessTechnologyFuelLogistics
Senate Deal Includes EV Tax Credits Sought by Tesla, Toyota
A breakthrough deal between Sens. Chuck Schumer and Joe Manchin includes the extension of a popular consumer tax credit for the purchase of electric vehicles, a big win for EV makers such as General Motors Co., Tesla Inc. and Toyota Motor Co.
July 28, 2022GovernmentBusinessLogistics
US Economy Shrank 0.9% Last Quarter, Its 2nd Straight Drop
WASHINGTON — The U.S. economy shrank from April through June for a second straight quarter, contracting at a 0.9% annual pace and raising fears that the nation may be approaching a recession.
July 28, 2022GovernmentBusiness
Fed Unleashes Another Big Rate Hike in Bid to Curb Inflation
WASHINGTON — The Federal Reserve on July 27 raised its benchmark interest rate by a hefty three-quarters of a point for a second straight time in its most aggressive drive in three decades to tame high inflation.
July 27, 2022GovernmentBusinessTechnologyLogistics
Chipmakers Get $52 Billion in Senate Bill to Boost Domestic Output
The Senate on July 27 passed legislation that includes $52 billion in grants and incentives for U.S. semiconductor manufacturing, an industry that has steadily lost ground to foreign competitors in recent years.
July 27, 2022Government
Stakeholders Praise Bhatt’s Nomination to Lead FHWA
Key transportation stakeholders expressed support for President Joe Biden’s nomination of Shailen Bhatt to lead the Federal Highway Administration.
July 27, 2022