The report also highlighted how much of the quarter was focused on the continued integration of Coyote Logistics. (RXO) RXO reported a year-over-year jump in revenue but also a decline in earnings while presenting its first-quarter results May 7. The Charlotte, N.C.-based asset-light transportation provider posted a net loss of $31 million, or 13 cents ...more
Lion electric school buses at the Lion Electric plant in Channahon, Illinois. (E. Jason Wambsgans/Chicago Tribune/TNS) Lion Electric opened its sprawling 900,000-square-foot plant near Joliet, Ill., in 2023, touting the potential for 1,400 new jobs. The Quebec-based electric school bus maker found eager customers in Illinois school districts, which wanted to take advantage of generous ...more
New York Gov. Kathy Hochul and Chobani CEO Hamdi Ulukaya discuss his company's $1.2 billion plant investment in Oneida County. (GovKathyHochul via Flickr) Greek yogurt giant Chobani will build a 1.4 million-square-foot facility in Oneida County to make 1 billion pounds of dairy products annually, New York Gov. Kathy Hochul announced. The $1.2 billion venture ...more
A tugboat assists a containership at the Port of Long Beach. (Tim Rue/Bloomberg) Container liners are starting to sever shipping routes that link the U.S. and China across the Pacific, as President Donald Trump’s trade war upends the industry and forces the two largest economies apart. Among signs of disruption are plunging fees, fewer services ...more
A man passes by China's central bank, also known as People's Bank of China, in Beijing. (Ng Han Guan/ File/AP) BEIJING — China announced a barrage of measures meant to counter the blow to its economy from U.S. President Donald Trump's trade war, as the two sides prepared for talks later this week. Beijing’s central ...more
Trump’s stance underlines the massive divide between the U.S. and China on trade and the difficult path they face to a possible agreement on lower tariff levels. (Yuri Gripas/Bloomberg) President Donald Trump said he’s unwilling to preemptively lower tariffs on China to kick-start more substantive negotiations with Beijing on trade. “No,” Trump said May 7 ...more
Companies scrambled in the first quarter to import merchandise ahead of the tariffs, and a surge in consumer spending in March suggested households also sought to frontload purchases. (Erin Scott/Bloomberg) Federal Reserve officials held interest rates steady for a third straight meeting and emphasized they see a growing risk of both higher inflation and rising ...more
(Valerie Plesch/Bloomberg) The U.S. Postal Service is zeroing in on FedEx Corp. board member David Steiner to be the country’s next postmaster general, according to people familiar with the matter. Steiner, the former CEO of Waste Management Inc., is being vetted for the position after the USPS board of governors conditionally offered him the role, ...more
A Freightliner fifth-generation Cascadia equipped with a Cummins X15N engine on display at ACT Expo. (Keiron Greenhalgh/Transport Topics) Freightliner has opened its order book for fifth-generation Cascadia tractors powered by Cummins’ X15N natural gas engine. The announcement on the opening day of the recent 2025 Advanced Clean Transportation Expo in Anaheim, Calif., provided a focal ...more
A Freightliner fifth-generation Cascadia equipped with a Cummins X15N engine on display at ACT Expo. (Keiron Greenhalgh/Transport Topics) Freightliner has opened its order book for fifth-generation Cascadia tractors powered by Cummins’ X15N natural gas engine. The announcement on the opening day of the recent 2025 Advanced Clean Transportation Expo in Anaheim, Calif., provided a focal ...more
