Latest Transportation and shipping News
China's president unveils a megaport in Peru, but locals say they're being left out
CHANCAY, Peru (AP) — On the edge of Peru’s coastal desert, a remote fishing town where a third of all residents have no running water is being transformed into a huge deep-water port to cash in on the inexorable rise of Chinese interest in resource-rich South America. The...
Advance Auto Parts is closing hundreds of stores in an effort to turn its business around
NEW YORK (AP) — Advance Auto Parts is closing more than 500 stores and shedding another 200 independent locations as part of its efforts to revive its struggling business. North Carolina-based Advance Auto said Thursday that it would be reducing its U.S. footprint as part of a...
Amazon launches an online discount storefront to better compete with Shein and Temu
Amazon has launched a low-cost online storefront featuring electronics, apparel and other products priced at under $20, an effort to compete with discount retailers that have increasingly encroached on the e-commerce giant's turf. In a blog post on Wednesday, the company said the...
Home Depot: Fiscal Q3 Earnings Snapshot
ATLANTA (AP) — ATLANTA (AP) — The Home Depot Inc. (HD) on Tuesday reported fiscal third-quarter profit of $3.65 billion. The Atlanta-based company said it had net income of $3.67 per share. Earnings, adjusted for amortization costs, were $3.78 per share. The...
Steel Connect: Fiscal Q4 Earnings Snapshot
NEW YORK (AP) — NEW YORK (AP) — Steel Connect, Inc (STCN) on Wednesday reported earnings of $6.5 million in its fiscal fourth quarter. On a per-share basis, the New York-based company said it had profit of 23 cents. The supply chain business process management...
Ardmore Shipping: Q3 Earnings Snapshot
HAMILTON, Bermuda (AP) — HAMILTON, Bermuda (AP) — Ardmore Shipping Corp. (ASC) on Wednesday reported third-quarter earnings of $24.1 million. The Hamilton, Bermuda-based company said it had net income of 55 cents per share. The shipping company posted revenue of...
Many retailers offer 'returnless refunds.' Just don't expect them to talk much about it
It’s one of the most under-publicized policies of some of the biggest U.S. retailers: sometimes they give customers full refunds and let them keep unwanted items too. Returnless refunds are a tool that more retailers are using to keep online shoppers happy and to reduce shipping...
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...
