Richard White by Brent Lewin/Bloomberg Australian shipping software company WiseTech Global Ltd. made its biggest ever acquisition, agreeing to buy E2open Parent Holdings Inc. in a deal that values the U.S. firm at $2.1 billion. The acquisition is the first major move by founder Richard White since he assumed the role of executive chairman in ...more
A logo on a new Volvo vehicle. (Eric Thayer/Bloomberg) FRANKFURT, Germany — Sweden-based Volvo Cars is eliminating 3,000 positions as part of a cost-cutting program as the automotive industry faces challenges from trade tensions and resulting economic uncertainty. The company said May 26 that around 1,200 of the job reductions would come among workers in ...more
(Justin Merriman/Bloomberg News) WASHINGTON — President Donald Trump said May 23 that U.S. Steel will keep its headquarters in Pittsburgh as part of what he called a “planned partnership” that seemed to signal that he’ll approve a bid by Japan-based Nippon Steel to make a big investment in the iconic American steelmaker, if not buy ...more
The U.S. and EU flags. (E4C/Getty Images) WASHINGTON — President Donald Trump said May 25 that the U.S. will delay implementation of a 50% tariff on goods from the European Union from June 1 until July 9 to buy time for negotiations with the bloc. That agreement came after a call with Ursula von der ...more
The TPAS project provides drivers with real-time information online about how many parking spaces are available at I-10 rest areas in western and southeastern Arizona. (LPETTET/Getty Images) The Arizona Department of Transportation has incorporated real-time truck parking availability status for Interstate 10 rest areas on its state traveler information website. “The parking information is now ...more
E-ZPass readers and license plate-scanning cameras over Park Avenue in New York on April 24. (Michael Nagle/Bloomberg News) New York won a court order temporarily barring the Trump administration from withholding federal approvals or funds for the state’s transportation projects, as the president tries to end Manhattan’s congestion pricing program. The administration has threatened to ...more
(HomeSafe Alliance) Defense Secretary Pete Hegseth has turned his attention to the troubled $17.9 billion military Global Household Goods moving contract, calling on the U.S. Transportation Command to make “immediate modifications” and address “deficiencies” to ensure that thousands of military members and defense civilians have successful moves during the busy summer months. “Placing our people ...more
The Nippon Steel headquarters in Tokyo. (Toru Hanai/Bloomberg News) The U.S. government is poised to receive a so-called golden share in U.S. Steel as a condition for approving Nippon Steel Corp.’s proposed acquisition of the American company. The plan, which would give the government de facto veto rights on certain company decisions, is part of ...more
Mattimore contends that the value of full-service leasing goes beyond the acquisition costs. (Penske) Fleet operators perform a balancing act between cost and risk when they evaluate trucking equipment leasing agreement options. Full-service and unbundled leases each come with their own set of advantages and limitations, and the right choice ultimately depends on the individual ...more
Mattimore contends that the value of full-service leasing goes beyond the acquisition costs. (Penske) When deciding to lease trucking equipment, fleet operators are performing a balancing act between cost and risk as they evaluate different leasing agreement options. Full-service and unbundled leases each come with their own set of advantages and limitations, and the right ...more
