Shoppers load groceries at Costco store in Burbank, Calif. (Damian Dovarganes/AP/File) WASHINGTON — The U.S. economy shrank at a 0.2% annual pace from January through March, the first drop in three years, as President Donald Trump’s trade wars disrupted business, the government said May 29 in a slight upgrade of its initial estimate. First-quarter growth ...more
A combine harvester cuts, threshes and cleans soybeans during a harvest in Waynesfield, Ohio. (Matthew Hatcher/Bloomberg) After losing their biggest export market due to Donald Trump’s trade wars, U.S. farmers are now counting on the president’s support for biofuels to prevent their next crop from piling up in storage. The administration is set to soon ...more
A Chevron Corp. oil drilling rig in the Permian Basin near Midland, Texas. (Daniel Acker/Bloomberg) Chevron Corp. plans to lay off nearly 800 employees in the Permian Basin, its biggest oil-production operation globally. The bulk of the reductions will come from Chevron’s Midcontinent campus on the outskirts of Midland, Texas, the company said in a ...more
President Donald Trump announces his "Liberation Day" tariffs on April 2 in the Rose Garden at the White House in Washington. (Mark Schiefelbein/Associated Press) WASHINGTON — A federal court on May 28 blocked President Donald Trump from imposing sweeping tariffs on imports under an emergency powers law, swiftly throwing into doubt Trump’s signature set of ...more
Ford Executive Chair Bill Ford at the initial 2023 announcement of the battery plant planned for Marshall, Mich. (Bill Pugliano/Getty Images) Ford Motor Co.’s plan to make electric vehicle batteries at a new site in Michigan would be put at risk if Congress cuts federal incentives for clean energy, the company’s chair said. The plant ...more
“We do not take additional funds from hardworking taxpayers for granted," Transportation Secretary Sean Dufy told the House Appropriations Committee on May 14. (Nathan Howard/Bloomberg) The House Appropriations Committee will kick off its fiscal 2026 legislative season soon. After its consideration of an appropriations bill scheduled for June 10 to back military and Veterans Affairs ...more
“We do not take additional funds from hardworking taxpayers for granted," Transportation Secretary Sean Dufy told the House Appropriations Committee on May 14. (Nathan Howard/Bloomberg) The House Appropriations Committee will kick off its fiscal 2026 legislative season soon. After its consideration of an appropriations bill scheduled for June 10 to back military and Veterans Affairs ...more
The legal challenge to President Donald Trump’s tariffs is widely expected to end up at the Supreme Court. (Evan Vucci/Associated Press) WASHINGTON — The Court of Appeals for the Federal Circuit on May 29 allowed President Donald Trump to temporarily continue collecting tariffs under the emergency powers law while he appeals the federal trade court’s ...more
The legal challenge to President Donald Trump’s tariffs is widely expected to end up at the Supreme Court. (Evan Vucci/Associated Press) WASHINGTON — The Court of Appeals for the Federal Circuit on May 29 allowed President Donald Trump to temporarily continue collecting tariffs under the emergency powers law while he appeals the federal trade court’s ...more
Penske Truck Leasing's Fantasy Fleet tool offers a comparison data set made up of the top-performing vehicles most similar to each vehicle in the user’s fleet. (Penske Truck Leasing) How to maximize the potential of a carrier’s rolling stock is one of the questions that keeps trucking executives up at night. Penske Truck Leasing believes ...more
