(Transaxle) A truck parts distributor with facilities in 11 states is closing. Transaxle filed a Worker Adjustment and Retraining Notification with the Pennsylvania Department of Labor & Industry, informing the state it is laying off more than 200 people on the East Coast, including nine employees at 22073 Perry Highway in Jackson Township, Butler County, ...more
(Eaton via YouTube) Eaton Corp. agreed to buy defense and aerospace systems company Ultra Precision Control Systems from private equity firm Advent. Eaton will pay $1.55 billion for the Cheltenham, England-based business to boost its portfolio in both military and civilian aircraft, it said in a statement Jun 16. The transaction is expected to be ...more
Vehicles jam a highway as a fire blazes nearby in the Shahran in Tehran on June 15. (Atta Kenare/AFP/Getty Images) Some oil tanker owners and managers have paused offering their vessels for Middle Eastern routes since June 13 as they assess the risks from Israel’s conflict with Iran, fueling concerns over export flows from the ...more
The U.S. Steel Irvin Works facility in West Mifflin, Pa. (Rebecca Droke/Bloomberg) Nippon Steel Corp. won conditional U.S. approval for its $14.1 billion purchase of United States Steel Corp., capping a lengthy saga in a tie-up that will create one of the world’s largest steel companies. In a release June 13, the companies said they’ve ...more
For U.K. leader Keir Starmer, completion of a deal sheltering key industries from more aggressive tariffs before other countries would be a vindication of his diplomatic approach of refusing to overtly criticize Trump. (Suzanne Plunkett/Getty Images) Prime Minister Keir Starmer reached an agreement with US President Donald Trump to implement trading terms disclosed last month ...more
For U.K. leader Keir Starmer, completion of a deal sheltering key industries from more aggressive tariffs before other countries would be a vindication of his diplomatic approach of refusing to overtly criticize Trump. (Suzanne Plunkett/Getty Images) Prime Minister Keir Starmer reached an agreement with US President Donald Trump to implement trading terms disclosed last month ...more
For U.K. leader Keir Starmer, completion of a deal sheltering key industries from more aggressive tariffs before other countries would be a vindication of his diplomatic approach of refusing to overtly criticize Trump. (Suzanne Plunkett/Getty Images) United Kingdom Prime Minister Keir Starmer was set to agree June 16 with President Donald Trump to implement a ...more
A logo on an oil storage silo at the Shell Pernis refinery in Rotterdam, Netherlands. (Peter Boer/Bloomberg News) Shell Plc’s former head of oil trading in the U.S. was stiffed on his 2020 bonus by more than $29 million, he claims in a lawsuit that shines a light on compensation inside the oil major’s lucrative ...more
OTR alleges DAT is picking and choosing which parts of the judge’s order it wants to adhere to and is only halting signing up new clients. (greenleaf123/Getty Images) The Superior Court of Cobb County in Georgia is set to hold a June 17 emergency hearing that may see DAT Freight & Analytics forced to temporarily ...more
The family of a truck driver forced to leap from his semi truck as it dangled off of Interstate 65 is asking for help with expenses during his “long and difficult recovery.” The accident happened on June 13th on Interstate 65 at Spaghetti Junction in Louisville, Kentucky. According to WAVE 3, the semi truck was on ...more
