Daily Infographic: The journey of a Valentine’s rose
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Maersk had more cash than it knew what to do with — but not anymore
Last week, Maersk management announced that the company was suspending its share buyback program and cutting its dividend by 88%, signaling the end of an era when managing and deploying an enormous excess of capital was the top concern for the shipping line’s executive team. Maersk’s stock price dropped by approximately 16%. Now that the…
Cargo unit sale seals EU approval for Korean Air buy of Asiana
Korean Air is one step away from absorbing rival Asiana Airlines after the rivals agreed on Tuesday to European Commission merger conditions that Asiana divest its freighter business. The last hurdle is the U.S. government, which reportedly objects to the deal because of concern the combined airline would dominate routes to the United States where…
FMCSA questioned on studies added to safety fitness rulemaking
WASHINGTON — A group of trade associations is warning federal regulators against including data the groups consider too old and irrelevant for use in developing a rule aimed at determining if a trucking company should stay in business. In a joint filing with the Federal Motor Carrier Safety Administration, the 11 associations, which represent trucking…
Trimble’s transportation revenue up 30% year-over-year
Trimble Inc. reported fourth-quarter transportation revenue of $194.8, a 30% year-over-year (y/y) increase from the same period in 2022. Total revenue increased 9% y/y to $932.4 million in the quarter, beating Wall Street analysts’ estimates of about $908 million to $910 million. The technology solutions provider recorded adjusted quarterly earnings per share of 63 cents,…