Latest Transportation and shipping News
Afghanistan has been through everything. Now it wants to dust off its postal service and modernize
KABUL, Afghanistan (AP) — In parts of Afghanistan where there are no street names or house numbers, utility companies and their customers have adopted a creative approach for connecting. They use mosques as drop points for bills and cash, a “pay and pray” system. Now the...
FTC unanimously moves to block Tempur Sealy's purchase of Mattress Firm
NEW YORK (AP) — The Federal Trade Commission has unanimously voted to bring a lawsuit against mattress maker Tempur Sealy to block its $4 billion acquisition of Mattress Firm, saying the deal would allow the world's largest mattress supplier to suppress competition that would result in higher...
Documenting the history of American Express as an in-house historian
NEW YORK (AP) — Ira Galtman is part of a small community of corporate archivists. They are historians, cataloguers and documentarians for large companies. They keep track of how companies change their products over time, while also looking for ways for the company to harken back to its history. ...
Delaware lawmakers approve a $1.1 billion capital budget for the fiscal year starting Monday
DOVER, Del. (AP) — Delaware lawmakers on Thursday unanimously approved a $1.1 billion capital budget for construction, transportation, maintenance and economic development projects in the fiscal year that starts Monday. The spending plan is about $300 million less than this...
UPS agrees to sell its freight-brokerage division for less than it paid for the business in 2015
ATLANTA (AP) — United Parcel Service said Sunday it agreed to sell its Coyote Logistics division to RXO for just over $1 billion — less than it paid for the freight-brokerage company in 2015 — to focus more on its core package-delivery business. UPS said it expects to close the...
Japan's exports surge 13.5% in May, helped by cheap yen and strong demand in US, Asian markets
TOKYO (AP) — Japan's exports surged 13.5% in May, faster than expected growth helped by a weak yen and strong demand in the U.S. and Asia. Finance Ministry data reported Wednesday showed that the trade deficit totaled 1.22 trillion yen ($7.7 billion), down nearly 12% from 1.38...
Stellantis CEO cites failures in US operations, ready to compete head-on with Chinese EVs
MILAN (AP) — Stellantis CEO Carlos Tavares expressed dissatisfaction at the operation of some U.S. plants on Thursday, and took responsibility for not reacting quickly enough to address that issue, the problem of inventory backup, and tackling a “suboptimal” marketing strategy. ...
Steel Connect: Fiscal Q3 Earnings Snapshot
NEW YORK (AP) — NEW YORK (AP) — Steel Connect, Inc (STCN) on Thursday reported net income of $71.7 million in its fiscal third quarter. The New York-based company said it had profit of $2.51 per share. Earnings, adjusted for pretax gains, came to 1 cent per share. ...
Bike shops boomed early in the pandemic. It’s been a bumpy ride for most ever since
For the nation’s bicycle shops, the past few years have probably felt like the business version of the Tour de France, with numerous twists and turns testing their endurance. Early in the pandemic, a surge of interest in cycling pushed sales up 64% to $5.4 billion in 2020,...
Planned Ross Stores distribution center in North Carolina to employ 850
RANDLEMAN, N.C. (AP) — Discount retailer Ross Dress For Less will build a southeastern U.S. distribution center in central North Carolina, investing $450 million and creating 850 jobs, officials announced Tuesday. Ross Stores Inc., which operates Ross Dress for Less and another...
