(Hollie Adams/Bloomberg)) Volvo AB’s income declined in the first quarter as uncertainty around U.S. tariffs hit demand for trucks in North America. Operating income fell more than analysts expected to 13.3 billion kronor ($1.4 billion), down from 18.2 billion kronor last year, Volvo said April 23. The company also lowered its forecast for North America’s ...more
Trump in the Oval Office on April 22. (Alex Brandon/AP) Wall Street traders are going all-in on risky bets that President Donald Trump is dialing down his combative agenda after the White House struck a softer tone on trade and Federal Reserve independence, sending stocks and bonds rallying. U.S. equities are poised to build on ...more
The Tesla logo at the Tesla Service and Showroom center in Ottawa was spray painted by a protester March 31. (Spencer Colby/The Canadian Press via AP) NEW YORK — Elon Musk says he’ll be spending less time in Washington slashing government costs and more time running Tesla after his electric vehicle company reported a big ...more
(Michael Nagle/Bloomberg News) A dozen U.S. states filed a lawsuit challenging President Donald Trump’s sweeping tariffs against the nation’s trading partners, alleging he illegally bypassed Congress by issuing the duties under an emergency economic law. The suit, filed April 23 in the U.S. Court of International Trade, argues that Congress didn’t grant Trump the necessary ...more
As many as 350 staff were laid off in early April at Volvo Trucks North America’s New River Valley assembly plant in Dublin, Va. (Volvo Group) Volvo Group’s North American truck operations are set to lay off about 1,000 employees in the coming weeks, CEO Martin Lundstedt said April 23. Lundstedt dropped the bombshell in ...more
ODFL posted an operating ratio of 75.4 in the quarter, compared with 73.5 a year earlier. (Rogelio V. Solis/Associated Press) Profit at Old Dominion Freight Line fell in the first quarter of 2025 and executives say growing optimism about the prospects for upcoming quarters has been temporarily squelched by macroeconomic uncertainty. Thomasville, N.C.-based ODFL’s net ...more
“As I’ve said many times, I don’t think either side believes that the current tariff levels are sustainable, so I would not be surprised if they went down in a mutual way,” Bessent said. (Samuel Corum/Bloomberg) Treasury Secretary Scott Bessent said that President Donald Trump hasn’t offered to take down U.S. tariffs on China on ...more
Minimum liability insurance requirements in Nevada may double by 2030 according to legislation passed by the state Senate on Tuesday. Senate Bill 180 would increase minimum liability insurance requirements from $750,000 to $1.5M by 2030. The increase applies to all carriers over 26,000 pounds. The Nevada Senate passed the bill 11-10 on Tuesday, April 22nd. ...more
Last week, an Oklahoma Highway Patrol (OHP) commercial vehicle inspection resulted in an out-of-service order after serious damage to the trailer frame was discovered. On April 21, OHP took to social media to highlight the results of a commercial vehicle inspection conducted the week prior by Trooper Heath Ragland.OHP says that a traffic stop was ...more
Traffic is at a crawl on Interstate 35 outside of Austin this morning as official work to clear a pile up crash involving seven vehicles. The accident happened just before 6:15 a.m. on I-35 south between SE Inner Loop and I-35-BL/Exit 259 near Georgetown, Texas north of Austin. At 6:20 a.m. the Texas Department of Transportation ...more
