(Justin Merriman/Bloomberg News) Nippon Steel Corp. has bolstered its pledge to invest in United States Steel Corp. in the event that President Donald Trump approves the Japanese company’s proposed $14.1 billion takeover, according to people familiar with the matter. Nippon Steel is now offering to build a new steel mill, save existing steelworker jobs and ...more
“I cannot think of two individuals with more knowledge of, or commitment to, the long-term success of the FedEx Freight business,” Subramaniam said. (Dustin Franz/Bloomberg) FedEx Corp. has named the leadership team for its soon-to-be-independent less-than-truckload freight division, with longtime executive John Smith tapped as CEO and veteran board member R. Brad Martin as chairman. ...more
(Wilfredo Lee/AP/File) Home Depot’s revenue climbed in the first quarter as customers spent slightly more as they tackled smaller projects. A number of U.S. companies have lowered or pulled financial guidance for investors as tariffs launched by the Trump administration scramble world trade but on May 20, Home Depot stuck by earlier projections of sales ...more
(Susan Walsh/Associated Press) WASHINGTON — The country’s top transportation officer defended the White House’s fiscal 2026 funding request for his department during a recent Senate subcommittee hearing. Transportation Secretary Sean Duffy informed the appropriations panel about funding proposals the Trump administration is pursuing for freight connectivity improvements, highway safety projects and the regulatory streamlining of ...more
(Justin Sullivan/Getty Images) Installation of high-speed chargers across the U.S. fell by more than 21% in the first quarter compared to the year-earlier period, according to an analysis of Energy Department data. And with House Republicans proposing ending Inflation Reduction Act tax credits for buyers while the Trump administration rolls back auto emissions standards, it ...more
Chevrolet Tahoe vehicles wait for final inspection before being driven off the production line at the GM assembly plant in Arlington, Texas. (Matthew Busch/Bloomberg) General Motors Co. has halted shipments of a small number of U.S.-made vehicles to China as the fallout of President Donald Trump’s tariffs reshapes the global auto sector. The move is ...more
The HMM Aquamarine containership docked at the Port of Los Angeles on April 28. (Eric Thayer/Bloomberg) Inbound shipments to the Port of Los Angeles — the busiest container hub in the U.S. — dropped as much as 30% in early May as President Donald Trump’s tariffs discourage trade. “Fewer containers mean less work on the ...more
Aurora shares have slumped 15% since the deal was announced. (Aurora Innovation) Uber Technologies Inc.’s $1.2 billion exchangeable bond deal, linked to its shares in a self-driving truck firm, shows why the unusual financial maneuver can be more attractive than a typical stake sale, according to observers. Last week, the San Francisco-based ride-hailing company issued ...more
Last year, the Port of Baltimore retained its national top spot for handling 848,628 tons of roll-on/roll-off farm and construction machinery. (Nathan Howard/Bloomberg) OXON HILL, Md. — East and West coast economic development officials promoted trucking and multimodal logistics opportunities around the ports of Baltimore and Sacramento during the U.S. Commerce Department’s multinational deal-making SelectUSA ...more
Bridge over NYS Route 5S in Montgomery County. (New York State Thruway Authority) The New York State Thruway Authority is embarking on a $12.3 million project to rehabilitate a bridge built in 1953 over Interstate 90 that handles 25,000 vehicles daily. The span is located in Montgomery County at the foot of the Adirondacks. The ...more
