Building new copper production capacity could take years. (Oliver Bunic/Bloomberg) U.S. tariffs on copper imports could be coming within several weeks, months earlier than the deadline for a decision, according to people familiar with the matter. Copper traded in New York rose to a record. U.S. President Donald Trump in February directed the Commerce Department ...more
A Rivian R1T electric vehicle pickup truck in New York. (Yuki Iwamura/Bloomberg News) Rivian Automotive Inc. is spinning out a business that will develop small electric vehicles designed for short trips. The new “micromobility” company, known as Also, is launching with $105 million in funding from Rivian and venture capital firm Eclipse. Rivian, which makes ...more
Dollar Tree Inc. acquired Family Dollar for more than $8 billion in 2015. (Daniel Acker/Bloomberg) Dollar Tree is selling Family Dollar to a pair of private equity firms for $1 billion after a decade of trying to make its acquisition of the bargain chain fit. Dollar Tree Inc. acquired Family Dollar for more than $8 ...more
Echo initiated cross-border logistics services in 2016. (Echo Global Logistics) Echo Global Logistics opened an office in Mexico City ahead of an expected doubling of its cross-border freight business in 2025 compared with 2024, the freight broker said. The office initially will employ 11 staff, but Echo expects a rapid expansion. In total, Echo’s Mexican ...more
Hyundai EVs on the assembly line at the company's new plant in Ellabell, Ga., on March 26. (Mike Stewart/Bloomberg News) ELLABELL, Ga. — Hyundai celebrated the opening of its new $7.6 billion electric vehicle factory in Georgia on March 26 by announcing plans to expand its production capacity by two-thirds to a total of 500,000 ...more
Hyundai EVs on the assembly line at the company's new plant in Ellabell, Ga., on March 26. (Mike Stewart/Bloomberg News) ELLABELL, Ga. — Hyundai celebrated the opening of its new $7.6 billion electric vehicle factory in Georgia on March 26 by announcing plans to expand its production capacity by two-thirds to a total of 500,000 ...more
Dole bananas at an H Mart grocery store in Fairfax, Va. (Al Drago/Bloomberg News) A proposal to curb China’s dominance of the global maritime industry would have an outsize impact on bananas — and aggravate consumers already sensitive to higher prices at the grocery store, according to the largest U.S. supplier of the fruit. “The ...more
The Champ Clarke Bridge over the Mississippi River between Missouri and Illinois. (Missouri Department of Transportation) President Donald Trump has nominated Brent Sadler to become the next administrator of the Maritime Administration, the agency responsible for U.S. waterborne transportation. Sadler is a 26-year U.S. Navy veteran and former submariner. He is a senior research fellow ...more
(andy0man/Getty Images) WASHINGTON — A comprehensive evaluation of the nation’s infrastructure networks determined the conditions of the country’s highways are at a near-failing grade. In its quadrennial infrastructure report card, the American Society of Civil Engineers issued a D+ grade for the country’s intricate network of roadways, the principal arena for the trucking industry’s operations. ...more
ADM's North American headquarters in Decatur, Ill. (Neeta Satam/Bloomberg News) Archer-Daniels-Midland Co. plans to slash CEO Juan Luciano’s annual cash bonus and laid out a new policy to claw back long-term awards in a bid to “ensure accountability” more than a year after an accounting scandal sent the commodity-trading giant’s shares tumbling. Luciano is due ...more
