Stellantis CEO Carlos Tavares in 2020 by Michel Euler/AP Stellantis NV’s third battery manufacturing plant in North America will be built with South Korean battery partner Samsung SDI in the United States, the companies said July 24. The exact location of the second plant under the existing StarPlus Energy joint venture wasn’t disclosed with the ...more
When economic conditions shake the market, transportation and logistics (T&L) companies are among the most vulnerable.Consumers have less discretionary spending in economic downturns, creating intense supply and demand fluctuations. As if this uncertainty isn’t enough, T&L companies are also plagued by economic aftershocks, such as skyrocketing hotel rates. Unstable market conditions create big challenges for ...more
When economic conditions shake the market, transportation and logistics (T&L) companies are among the most vulnerable. Consumers have less discretionary spending in economic downturns, creating intense supply and demand fluctuations. As if this uncertainty isn’t enough, T&L companies are also plagued by economic aftershocks, such as skyrocketing hotel rates. Unstable market conditions create big challenges ...more
GM raised its financial guidance for the full year with one qualification: that it can negotiate union labor contracts without a strike. (Matt Rourke/AP) DETROIT — Despite taking on a huge chunk of an expensive electric vehicle recall, General Motors posted $2.54 billion in second-quarter net income, a 52% increase over a year ago. Continued ...more
CN expects earnings per share will be flat or slightly down this year compared with 2022. (Luke Sharrett/Bloomberg News) Canadian National Railway Co. reported revenue of C$4.06 billion ($3.1 billion) in the second quarter, down 7% and missing analysts’ estimates. Earnings fell 9% on an adjusted basis to C$1.76 per share, or 4 cents below ...more
A Peterbilt electric truck. Paccar is the parent company of Peterbilt and Kenworth. Paccar CEO Preston Feight noted strong interest in the company’s battery-electric vehicles during the earnings call. (Paccar) Paccar Inc. posted record quarterly income in the three months that ended June 30, beating analyst estimates as profits across some of the company’s divisions ...more
The House and Senate transportation funding bills differ slightly, meaning they will have to be reconciled. (Douglas Rissing/Getty Images) After committees approved versions of a fiscal 2024 transportation funding bill, Congress is unlikely to clear the legislation before its August recess. While leaders in the House and Senate agree on the need for approving fiscal ...more
The House Energy and Commerce Committee is scheduled to consider two pieces of self-driving legislation Wednesday. (Stefani Raynolds/Bloomberg News) Congress is wading into the debate over whether automakers should be allowed to sell hundreds of thousands of self-driving cars while manufacturers seek federal permission to expand testing of the technology. The U.S. House Energy and ...more
Walmart's consensus rating is at its highest level since March 2010. (Joe Raedle/Getty Images via Bloomberg News) Walmart Inc. shares could surge more than 30% in the next 12 months as the shopping behemoth continues to gain market share even as grocery inflation eases, according to Piper Sandler. Walmart has been on a remarkable run, ...more
The Washington County Sheriff’s Office (WCSO) issued a hefty fine to an oversized load truck driver in addition to placing the vehicle out of service last month.According to WCSO, the incident occurred on June 15, when motor carrier officers spotted violations and stopped an oversized load traveling through Washington County, Oregon.From WCSO: “This morning just before ...more
