B.C. fines carrier that hit Massey Tunnel roof $2,371
B.C.’s Commercial Vehicle and Safety Enforcement (CVSE) agency last week fined a trucking company $2,371 after one of its tractor-trailers hit the roof of the Massey Tunnel in the Greater […]
OTR Solutions acquires back-office automation platform Epay Manager
Transportation fintech provider OTR Solutions announced Tuesday it has acquired back-office automation solution Epay Manager. The terms were not disclosed. The acquisition signifies a strategic decision propelled by Epay Manager’s audit-proof invoicing system, a feature that OTR highlights as setting it apart from other carrier payment management tools. By integrating Epay Manager’s capabilities into its…
Red Sea trouble threatens US freight recovery
Federal Reserve Chair Jerome Powell said Sunday his committee is unlikely to consider cutting the federal funds rate at its next meeting in March. The implication from his remarks in a “60 Minutes” interview was that the board would not entertain the idea until the following meeting in May. “We want to see more evidence…
Emissions-rigging fine takes huge bite from Cummins’ Q4 earnings
An emissions-rigging settlement wiped nearly $14 per share from fourth-quarter profits at Cummins Inc. The engine maker pointed to softer results this year as the North American truck equipment market cools. Without the second-largest fine ever assessed for federal Clean Air Act violations, Cummins reported record results for all of 2023. Cummins on Tuesday reported…
Cost control helps ArcBest beat Q4 expectations
Transportation and logistics provider ArcBest beat fourth-quarter expectations on Tuesday. ArcBest (NASDAQ: ARCB) reported adjusted earnings per share of $2.47, 26 cents ahead of the consensus estimate and 5 cents higher year over year (y/y). The number excluded a few one-offs like costs from a freight handling pilot, acquisition-related items and settlement expenses from a…