Valaris Plc became the latest casualty of the global slump in oil prices, filing for bankruptcy Aug. 19 as the world’s largest offshore rig owner by fleet size seeks to restructure a roughly $7 billion debt load.
August 19, 2020Search
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Three experts from Transport Enterprise Leasing discuss strategies for buying and selling trucks amid regulatory shifts, trade tensions and economic uncertainty.
States Sue Trump Over USPS Even as Changes Paused
More than a dozen states sued President Donald Trump over changes at the U.S. Postal Service that they said trampled federal law and threatened delivery of mail-in ballots, even after Postmaster General Louis DeJoy pledged to delay the moves until after the November election.
August 19, 2020Maersk Lifts Profit Outlook in Sign of Pandemic Resilience
The world’s largest container line may generate $1.5 billion more in operating profit this year than previously expected, as its business proves resilient to the COVID-19 crisis.
August 19, 2020GM to Double Down on China After Tesla Grabs EV Lead
General Motors Co. is accelerating its push into the fast-growing electric-car segment in China, the world’s largest market, seeking to challenge sales leader Tesla Inc. and a slew of local contenders.
August 19, 2020Postmaster General Halts Service Changes Until After Election
Postmaster General Louis DeJoy said he is suspending changes to mail service that raised concerns over slow delivery of ballots in the fall election after Democrats accused President Donald Trump of hampering the vote-by-mail process.
August 18, 2020Amazon to Establish Tech Hubs in Six Cities, Including Detroit
Online retail giant Amazon.com Inc. said Aug. 18 it will put a tech hub in Detroit and five other U.S. cities. The move is expected to create 3,500 jobs in total.
August 18, 2020Three More States to Announce Lawsuits Over USPS, Mail-In Voting
Three more Democratic-led states announced they will take legal action to protect the U.S. Postal Service and mail-in voting as the Trump administration faces claims it is trying to undermine the election.
August 18, 2020Tonnage Declines 8.3% Year-Over-Year in July, ATA Index Shows
Truck tonnage in July declined a seasonally adjusted 8.3% when compared with year-ago levels, and on a monthly basis was down 5.1% from June, according to ATA.
August 18, 2020Postmaster General Louis DeJoy to Appear Before Senate Over Mail Delays
Backlash mounting, President Donald Trump’s embattled Postmaster General Louis DeJoy will appear Aug. 21 before the Senate to testify on mail delivery delays and service changes that lawmakers and others are warning could imperil the November election.
August 18, 2020FedEx Joins UPS, USPS in Adding Fees as Holiday Delivery Surge Looms
FedEx Corp. is joining a rush to apply extra holiday fees on high-volume shippers as couriers brace for a new jump in residential deliveries during the year-end peak season.
August 18, 2020