Roland Welzbacher by Continental. Continental AG appointed company veteran Roland Welzbacher to succeed Olaf Schick as chief financial officer as the German manufacturer sheds units to focus on its more profitable tires business. Welzbacher, 55, will take over as finance chief on Oct. 1 after a joint transition period with Schick, who’ll join Mercedes-Benz Group ...more
Signage at the International Monetary Fund and World Bank Spring meetings at the IMF headquarters in Washington. (Kent Nishimura/Bloomberg) The world economy is at a “pivotal juncture” as trade tensions flare, members of the International Monetary Fund said in a draft statement after a week of discussions that have been overshadowed by President Donald Trump’s ...more
Chris Wright by Al Drago/Bloomberg Energy Secretary Chris Wright sought to reassure U.S. oil companies during a visit to Oklahoma, saying turmoil from President Donald Trump’s trade war is apt to be fleeting and the administration fully supports more crude output. “The uncertainty you are seeing around tariffs — that’s a short-term issue,” Wright said ...more
New vehicles are prepared for export at the Port of Seattle. (David Ryder/Bloomberg) Hoegh Autoliners ASA, an Oslo, Norway-based car carrier, said that a plan to impose fees on foreign ships calling at U.S. ports could cost the company as much as $70 million. The Trump administration last week pressed ahead with plans to impose ...more
Economists have warned that costs from tariff increases would ultimately be passed on to U.S. consumers. (Scott McIntyre/Bloomberg) President Donald Trump’s tariffs would effectively cause a tax increase for low-income families that is more than three times higher than what wealthier Americans would pay, according to an analysis from the Institute on Taxation and Economic ...more
Asked about the possibility of granting another 90-day pause, Trump cast that scenario as “unlikely." (Al Drago/Bloomberg News) President Donald Trump suggested another delay to his higher so-called “reciprocal” tariffs was unlikely, raising pressure on nations to negotiate trade deals with his administration. Asked about the possibility of granting another 90-day pause, Trump cast that ...more
Chassis builder CIE Manufacturing produces container chassis and sources frames from an affiliate in Thailand. (CIE Manufacturing) U.S.-based manufacturers of intermodal chassis were materially injured by imports of chassis and subassemblies from Mexico, Thailand and Vietnam, the U.S. International Trade Commission said. A coalition led by Stoughton Trailers and Cheetah Chassis Corp. in a Feb. ...more
(AIT Worldwide) AIT Worldwide Logistics has finalized an agreement to purchase the assets of Miami-based international freight forwarder Gsdmia. The Itasca, Ill.-based logistics services company said the acquisition provides deep international experience with air and ocean transportation. Gsdmia ships a diverse range of commodities between the United States, Asia, Europe and Latin America. That includes ...more
Stamford, Conn.-based United reported net income of $518 million in Q1, a decrease of 4.4% compared with a $542 million profit in the year-ago period. (United Rentals) Profit at United Rentals fell in the first quarter of 2025 but beat market expectations and boosted the stock price. Stamford, Conn.-based United reported net income of $518 ...more
The Federal Motor Carrier Safety Administration (FMCSA) has denied an age-related regulation exemption request from a high school located in Washington state. In a Notice to be published in the Federal Register on April 28, FMCSA announced the denial of an application for exemption from the commercial learner’s permit (CLP) minimum 18-year age requirement that ...more
