FedEx Corp. late Thursday reported adjusted earnings of $3.86 per diluted share in its fiscal 2024 third quarter, well above analysts’ estimates of $3.45 per share, sending shares up sharply in after-hours trading. The company (NYSE: FDX) said cost cuts and efficiency improvements offset continued macroeconomic weakness. FedEx Express, the company’s air and international unit…
WASHINGTON — House lawmakers have passed a bill giving regulators new power to investigate potential violations of the law by the producer of one of the most closely watched container freight indexes. The Ocean Shipping Reform Implementation Act of 2023, which passed the chamber on Thursday by a vote of 393-24, targets China’s Shanghai Shipping…
HOUSTON — The roughly 9,000 attendees at the CERAWeek energy conference had a multitude of presentations about transitioning to new forms of energy and away from hydrocarbons. But only one focused on the future of trucking. Three executives from diverse trucking industry backgrounds answered questions from Greg Genette of S&P Global Mobility at a panel…
The Illinois Supreme Court ruled Thursday that project44 may move forward with its defamation lawsuit against rival visibility provider FourKites. “We plan to continue on the merits of the case,” Jennifer Coyne, general counsel for project44, told FreightWaves. The dispute began with emails sent to project44 executives in May 2019, alleging accounting improprieties and ties…
Project44 has won a major battle in its ongoing defamation suit against competitor FourKites. The Illinois Supreme Court ruled Thursday that emails in question were published to a third party, and that the Cook County Circuit Court must try the case. The two FreightTech rivals have been battling it out in the courts after project44…