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Management from Schneider National lowered its outlook for 2023 when it reported first-quarter results on Thursday. The quarter came in better than expected but the truckload carrier said a more material freight recovery won’t likely occur until later in the year. Schneider (NYSE: SNDR) reported first-quarter adjusted earnings per share of 55 cents, 10 cents…
Yellow Corp. (NASDAQ: YELL) has failed to make its required pension contributions for June and is planning to withhold payments for July. The pension funds, pension accruals and health care coverage for workers will suspend on Sunday, according to a statement by the Teamsters. The Teamsters union has threatened to strike by Monday if this…
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Transport and logistics provider DHL Group said Tuesday that it has relocated its Norfolk, Virginia, operations to a facility more than twice the size of its prior location. The $7.3 million investment increases shipment capacity and enables faster processing, resulting in later cutoff times for shippers in eastern Virginia, said DHL, a German company with…
Korean Air faces the prospect that its deal to acquire indebted Asiana Airlines could fall apart over U.S. and European Union concerns about reduced competition on certain cargo routes. The U.S. Department of Justice is considering legal action to stop the merger because of concern the combined airline would dominate routes to the U.S. that…
Daimler Truck launched Rizon, a new U.S.-focused medium-duty electric truck brand, on the eve of California regulators voting whether to require fleets to purchase 5%-10% EVs beginning in 2024. The coincidental timing expands Daimler’s battery-powered portfolio to cover Class 4 to 8 trucks. The production version of the Class 6 Freightliner eM2 is expected at…