This week, the owners of multiple trucking companies admitted to fraudulently obtaining hundreds of thousands of dollars worth of pandemic relief funds. On June 16, 2025, Ajay Chawla, 60, and his wife, Ruhi Chawla, 50, pleaded guilty to wire fraud, according to the U.S. Attorney’s Office for the Southern District of Ohio.The couple received more ...more

The California Highway Patrol (CHP) is investigating after a semi truck drove the wrong way on a major interstate over the weekend. On Sunday, June 15, multiple 911 callers reported a wrong-way semi truck on I-5 in Siskiyou County, according to CHP’s Yreka division.Callers told police that the truck drove through the center median and then ...more

A man wanted for the stabbing of a woman drove his semi truck off of a bridge during his escape attempt while fleeing police.  The incident began when police were called to an apartment in the 11000 block of Legen Avenue on Sunday at 7:55 a.m. near Wauwatosa, Wisconsin. According to Fox 32, police arrived to ...more

Rescue workers survey the damage to buildings following Israeli airstrikes in Tehran on June 13. (Majid Saeedi/Bloomberg) Israel’s overnight airstrikes on Iran drove up freight rates and tanker stocks June 13 as traders and investors priced in the prospect of disruption to a large swath of the global oil-shipping fleet. Forward freight agreements for July ...more

Ford idled its Explorer sport utility vehicle factory in Chicago for a week last month due to a shortage of rare earth materials. (Ford Motor Co.) Ford Motor Co. continues to struggle to obtain rare earth magnet supplies that are essential to car production and have already forced a temporary shutdown of one of its ...more

A Phillips 66 renewable fuels refinery in Rodeo, Calif. (David Paul Morris/Bloomberg) The Trump administration is proposing oil refiners blend more biofuels into gasoline and diesel next year while seeking to discourage the use of imported supplies. The plan being unveiled by the Environmental Protection Agency on June 13 would require refiners to mix a ...more

(Chris Ratcliffe/Bloomberg News) Amazon.com Inc. and Walmart Inc. are among large multinational companies that have recently discussed issuing their own stablecoins in the U.S., the Wall Street Journal reported, citing unidentified people. Expedia Group Inc. and airlines have held similar deliberations, the WSJ said. Stablecoins are crypto tokens typically pegged to a currency like the ...more

The JBS Beef Production Facility in Greeley, Colo. (Michael Ciaglo/Bloomberg) Brazilian meat giant JBS expects its shares to begin trading June 13 on the New York Stock Exchange. Trading in New York is a long-held goal for JBS, which was founded 72 years ago and is now one of the world’s largest meat companies. Half ...more

For now at least, most traders are viewing current events through the lens of recent history. (Ali Mohammadi/Bloomberg) The past two years of escalating tensions in the Middle East have taught oil traders to be sanguine about the risk of disruption to oil supplies. The barrage of headlines has revived memories of the political upheavals ...more

“It’s very slow here seasonally,” Seroka said. (Eric Thayer/Bloomberg) Import volume through the busiest trade hub in the U.S. fell 19% from the month before, a fallout from President Donald Trump’s tariffs. “It’s very slow here seasonally,” Port of Los Angeles Executive Director Gene Seroka told reporters June 13. Seroka warned that U.S. businesses are ...more