Lawmakers are pushing forward legislation that would force the Federal Motor Carrier Safety Administration (FMCSA) to repeal Entry-Level Driver Training requirements.The “Trucking Workforce Improvement Act” was reintroduced by Virginia Rep. Bob Good on July 19, 2023.If passed, the bill would roll back the FMCSA’s Entry-Level Driver Training (ELDT) rule that went into effect on February ...more
The measure would restrict EPA from issuing certain waivers that would ban the sale or use of new motor vehicles equipped with internal combustion engines. (P_Wei/Getty Images) A panel in the House recently approved a bill that would block efforts meant to prevent the sale of internal combustion engines. The Preserving Choice in Vehicle Purchases ...more
A GXO worker operates a robotic arm in a warehouse. GXO said second-quarter net income increased year-over-year to $65 million, up 27% year-over-year, compared with $51 million a year ago. (GXO) GXO Logistics, the contract logistics provider that was spun off two years ago from its parent company XPO, reported stronger-than-expected second-quarter results on Aug. ...more
An oil drilling rig stands on one of the Causeway islands in Manifa offshore oilfield, operated by Saudi Aramco, in Manifa, Saudi Arabia. (Bloomberg News) DUBAI, United Arab Emirates — Saudi Arabia said Aug. 3 it will extend its unilateral production cut of 1 million barrels of oil a day through the end of September ...more
Cummins said sales in North America increased 31% year-over-year. (Cummins Inc.) Profits at Cummins Inc. rose to $720 million in the second quarter of 2023, or diluted earnings per share of $5.05, from $702 million, or $4.94, in the year-ago period on the back of a jump in sales, including at newly acquired Meritor and ...more
M&M Transport Services has 500 trucks and 1,900 trailers across 12 U.S. locations in the Northeast, Midwest and Southwest. (Schneider) Schneider National Inc. announced that it is acquiring dedicated contract carrier M&M Transport Services. Based in West Bridgewater, Mass., M&M primarily offers specialty services for the retail and manufacturing customers, Schneider said in an Aug. ...more
A gantry crane loads a container from the SITC Lide container ship onto a truck at a shipping terminal at dusk in Yokohama, Japan. (Kiyoshi Ota/Bloomberg News) Spot rates for shipping containers jumped by the most in more than two years, a sign that a 16-month slump in ocean freight costs that helped ease the ...more
BMW's electric lineup. (BMW) BMW AG is stepping up spending on its electric car rollout after the luxury carmaker’s battery-vehicle deliveries more than doubled during the first half of the year. The level of buyer interest in EVs means BMW is “investing more than originally planned in the global ramp-up of e-mobility,” Chief Financial Officer ...more
NEW YORK — Amazon on Aug. 3 posted better-than-expected revenue and profits for the second quarter, sending its stock higher in after-hours trading. The e-commerce giant earned $6.7 billion, or 65 cents per share, for the three-month period ended June 30, much higher than the $3.64 billion industry analysts surveyed by FactSet had anticipated. Amazon ...more
Yellow's situation has disrupted the LTL market. (Yellow Corp.) Less-than-truckload carrier Yellow Corp. ceased operations on July 30 after nearly 100 years in business, causing an upheaval for both its customers and the broader LTL market. News of the shutdown emerged organically, as word of layoffs and service cancellations began to swirl. The company issued ...more
