Less-than-truckload carrier Yellow Corp. is reported to be nearing a deal with lenders that will provide it funds as it approaches a liquidation of assets in bankruptcy. Apollo Global Management (NYSE: APO), one of Yellow’s current lenders, is reported to be leading a group that will provide Yellow with new capital in the form of…
As the trucking industry evolves, so do the problems that drivers and carriers face. In such a fast-moving environment, it would be challenging for one company to provide solutions to the full breadth of issues that pop up. It is a challenge that Tenstreet has chosen to take on. The team at Tenstreet prides themselves…
Class I railroads BNSF and CSX have announced agreements with key labor groups: BNSF reached a sick leave and work-rest agreement with the union representing locomotive engineers, while CSX and the union representing conductors partnered to enhance CSX’s training program for conductors. BNSF strikes sick leave and work-rest agreement with BLET Western U.S. rail carrier…
Daimler Truck reported higher second-quarter profits and revenue, but like OEMs reporting earlier, the market leader saw incoming orders fall. The German truck and bus maker said net profit rose to 1 billion euros ($1.1 billion) from 946 billion euros in the second quarter of 2022. Revenue increased to 13.88 billion euros from 12.1 billion….
DHL Group overcame weak economic conditions and reported decent second-quarter results, the German conglomerate announced Tuesday. Revenue of $22.1 billion was down year over year from $26.4 billion. Operating profit was about the same from the first quarter at $1.9 billion. The company raised the low end of its 2023 earnings before interest and taxes…