Carlos Ghosn was arrested in Japan in 2018. (Michel Euler/AP) BEIRUT — Auto tycoon Carlos Ghosn has filed a $1 billion lawsuit against Nissan and about a dozen individuals in Beirut over his imprisonment in Japan and what he says is misinformation spread against him, Lebanese officials said June 20. According to the officials, Ghosn’s ...more
Pete Buttigieg tours the port of Yokohama on June 19. (Eugene Hoshiko/AP) YOKOHAMA, Japan — An American push to establish “green shipping corridors” is key to reducing carbon emissions from the shipping industry, U.S. Transportation Secretary Pete Buttigieg said June 19 while touring the port of Yokohama near Tokyo. Buttigieg was in Japan to attend ...more
Amazon warehouse workers move carts filled with packages. (Justin Sullivan/Getty Images via Bloomberg News) Sen. Bernie Sanders (I-Vt.) launched an investigation into charges of unsafe working conditions at Amazon.com Inc. warehouses across the U.S., raising the possibility of high-profile hearings on complaints over the retailer’s treatment of employees. Safety issues at Amazon’s warehouses have been ...more
A FedEx worker sorts packages in Garden City, N.Y. (Michael Nagle/Bloomberg News) FedEx Corp. gave a 2024 profit outlook below analyst expectations as a drop in package demand offsets CEO Raj Subramaniam’s $4 billion cost-cutting plan. Adjusted earnings in the next fiscal year will be $16.50 to $18.50 a share, the Memphis-based courier said June ...more
Even with the current gain, diesel prices are down 30.1 cents on average since April 17. (THEPALMER/Getty Images) Diesel prices bumped up 2.1 cents to a national average of $3.815 a gallon, according to Energy Information Administration data on June 19. Highlights The average diesel price rose for just the fifth time this year and ...more
Over 90% of the group’s revenue stems from businesses trading under the DHL brand. (DHL.com) BONN, Germany — German multinational package delivery and logistics company Deutsche Post DHL Group said June 19 that it is changing its name to DHL Group as of the beginning of July. The company said the new name reflects the ...more
The Port of Long Beach by Allison Zaucha/Bloomberg News The tentative six-year labor agreement between the International Longshore and Warehouse Union and the Pacific Maritime Association is a major step in addressing a shift of cargo volumes to East Coast ports that has taken place amid uncertainty sparked by the long negotiation process. “The contract ...more
Nikola Tre BEV by Nikola Corp. The company will lay off 120 employees at its Phoenix and Coolidge, Ariz., sites. Nikola Corp. will cut 270 jobs, including 120 in the United States, as the beleaguered truck maker seeks to slash cash outflows, the Phoenix-based company said. As part of winding down the company’s European operations ...more
The transmission is designed to perform in a variety of vocational applications. (Paccar) Peterbilt Motors Co. introduced an off-road calibration and rock-free mode for the Paccar TX-18 PRO transmission, the company announced June 14. The Paccar TX-18 PRO transmission is designed around productivity, efficiency and uptime for on- and off-highway applications. It was made for ...more
Herb Evans is vice chairman for Eagle Transport Corp. (Eagle Transport Corp.) National Tank Truck Carriers has appointed Herb Evans as its chairman, the association announced June 12. He is replacing outgoing chairman Randall Clifford of Ventura Transfer Co. Evans currently serves as vice chairman for the tank truck carrier Eagle Transport Corp. NTTC said ...more
