Latest Transportation and shipping News
Pentagon audit says Boeing cleaned up on Air Force parts, including soap dispensers marked up 8,000%
WASHINGTON (AP) — Boeing overcharged the Air Force nearly $1 million for spare parts on C-17 cargo planes, including an 8,000% markup for simple lavatory soap dispensers, according to the Pentagon’s inspector general. The Defense Department's auditor reviewed prices paid for 46...
Troubled carmaker Stellantis reports 27% plunge in 3Q revenues as it cleans up US inventories
MILAN (AP) — Troubled carmaker Stellantis on Thursday reported a 27% plunge in net revenues during the third quarter as gaps in launching new product s and action to reduce inventories slashed global shipments of new vehicles by 20%. The world’s fourth-largest...
Union Pacific's profit grows 9% as the railroad delivers more but results fall short of Wall Street
OMAHA, Neb. (AP) — When labor disputes disrupted operations at Canada's two largest railroads and ports up and down the East Coast, many companies shifted more of their shipments to the West Coast forcing railroads like Union Pacific and the ports there to react quickly. Union...
Old Dominion: Q3 Earnings Snapshot
THOMASVILLE, N.C. (AP) — THOMASVILLE, N.C. (AP) — Old Dominion Freight Line Inc. (ODFL) on Wednesday reported third-quarter earnings of $308.6 million. The Thomasville, North Carolina-based company said it had profit of $1.43 per share. The results met Wall Street...
CSX profit rose 8% in the third quarter but hurricane damage will impact current period
CSX's delivered 3% more shipments in the third quarter to help drive its profit 8% higher, but only modest volume growth is expected in the rest of the year as the Southeast rebuilds after two major hurricanes. The railroad said Wednesday that it earned $894 million, or 46 cents per...
The US could see shortages and higher retail prices if a dockworkers strike drags on
NEW YORK (AP) — U.S. ports from Maine to Texas shut down Tuesday when the union representing about 45,000 dockworkers went on strike for the first time since 1977. Workers began walking picket lines early Tuesday, picketing near ports all along the East Coast. Workers outside the...
Takeaways from AP's report on how shrimp farmers are exploited as supermarkets push for low prices
BANGKOK (AP) — A new investigation focused on three of the world’s largest producers of shrimp released on Monday claims that as big Western supermarkets make windfall profits, their aggressive pursuit of ever-lower wholesale prices is causing misery for people at the bottom end of the supply...
US retailers brace for potential pain from a longshoremen's strike
With a dockworkers' strike threatening to close ports on the East and Gulf coasts beginning this week, Chris Butler is growing worried. Butler is CEO of the National Tree Company, and, like many businesses, his is counting on shipments that are en route from Asia but won't reach...
A Pennsylvania bakery known for its election cookie poll is swamped with orders
HATBORO, Pa. (AP) — A suburban Philadelphia bakery’s cookie “poll” that started during the 2008 presidential campaign as a joke between the owners and their customers has grown into much more. Lochel's Bakery in Hatboro is swamped with orders. People are driving from a couple...
Trump calls for 100% tariffs on cars made in Mexico as part of US manufacturing plan
SAVANNAH, Ga. (AP) — Donald Trump on Tuesday pledged to stop U.S. businesses from shipping jobs overseas and to take other countries’ jobs and factories by relying heavily on sweeping tariffs to boost auto manufacturing — despite warnings that domestic consumers would pay more and a lack of...
