US Postal Service to migrate air cargo to UPS during summer

The U.S. Postal Service plans to shift daily air cargo volumes to UPS before the contract with FedEx expires in September to ensure no service interruption for customers heading into the busy holiday shipping season, the agency and company officials said Tuesday.  UPS’ (NYSE: UPS) ability to leverage its integrated air-and-ground network and bypass its…

Tesla’s Q1 revenue falls 9% amid mass layoffs in California, Texas

Tesla CEO Elon Musk said the company will accelerate the launch of less expensive EV models after its profits and revenue under performed for the third consecutive quarter. “The EV adoption rate globally is under pressure, and a lot of other auto manufacturers are pulling back on EVs and pursuing plug-in hybrids instead,” Musk said…

EXO closes Chattanooga office to focus on managed transportation tech

Open-deck transportation marketplace EXO Freight closed its Chattanooga, Tennessee, office Tuesday, laying off 19 employees, including a few from its spot brokerage team in Royal Oak, Michigan, who were mainly operations-focused, co-founder and CEO Kurtis Tryber told FreightWaves. Tryber said it was an intentional move by the company to pivot from covering unprofitable spot market…