"Made in China" labels on packages at a fulfillment center in New Jersey. (Bing Guan/Bloomberg) U.S. tariff hikes on small packages from China triggered a slump in shipments last month, contributing to a huge drop in bilateral trade and roiling exporters like Shein Group Ltd. The value of small parcels sent from China to the ...more
(Wilfredo Lee/AP/File) Home Depot Inc. has made an offer for GMS Inc., potentially setting off a bidding war with QXO Inc. which this week made a $5 billion offer for the building products distributor, the Wall Street Journal reported June 19. The offer from Home Depot, the world’s largest home-improvement retailer, is for an undetermined ...more
The Lyft logo visible on a rideshare car in New York City. (John Taggart/Bloomberg News) New York City on June 20 announced new minimum-pay rules for rideshare drivers, settling on a smaller-than-proposed 5% increase following pushback from Uber Technologies and Lyft Inc. An earlier proposal called for a 6.1% pay boost. The finalized regulations from ...more
Neither company provided details on what the settlement involved. (Ashi Sae Yang/Getty Images) DAT Freight & Analytics and OTR Solutions this week resolved a dispute over the former’s acquisition of Seattle-based factoring specialist Outgo in May. A potentially explosive June 17 emergency hearing in the Superior Court of Cobb County in Georgia was canceled after ...more
The eight-state strike began Feb. 18, with the Teamsters accusing 10 Roads of refusing to bargain in good faith. (10 Roads Express via X). A four-month-long strike at Iowa-based contract carrier 10 Roads Express by members of the International Brotherhood of Teamsters has taken a major step toward resolution. Carter Lake-based 10 Roads reached a ...more
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The Supreme Court is seen on Capitol Hill in Washington on Feb. 27. This is the first time Donald Trump's tariffs have gone before the nation's highest court. (Rod Lamkey Jr./Associated Press) The Supreme Court refused to put a challenge to President Donald Trump’s sweeping tariffs on an ultrafast track. The justices on June 20 ...more
Elon Musk has made the robotaxi program a priority at Tesla, and a failure would likely be highly damaging to the company’s stock, which has already tumbled 20% this year. (Susan Walsh/Associated Press, File) NEW YORK — A group of Democratic lawmakers in Texas is asking Elon Musk to delay the planned rollout of driverless ...more
“I am excited to join GXO, a company at the forefront of the logistics industry,” Kelleher said. (GXO Logistics) GXO Logistics has finished its search for a new CEO with the appointment of Patrick Kelleher, the company announced June 20. The Greenwich, Conn.-based contract logistics provider highlighted his more than three decades of experience while ...more
(Ivan Cholakov/iStock/Getty Images) The Pentagon has terminated the multibillion-dollar Global Household Goods contract, a controversial program intended to replace a legacy military moving system that instead has been beset by complaints and widespread criticism. The cancellation of the $17.9 billion contract arrives barely a month after Defense Secretary Pete Hegseth called on the U.S. Transportation ...more
