UPS Inc. said it experienced greater-than-expected shipment losses due to concerns about a possible Teamsters union work stoppage, with about 1 million daily packages being diverted to competitors and 200,000 additional daily parcels not entering the system because sales fell through due to shipper uncertainty. Carol B. Tomé, UPS CEO, told analysts Tuesday that she…
Hyzon Motors would consider a sale or merger to keep its global fuel cell system business alive as it awaits the outcome of a Securities and Exchange Commission probe into possible phantom sales. The spinoff of Singapore’s Horizon Fuel Cell Technologies went public via special purpose acquisition company Decarbonization Plus Acquisition Corp. in July 2021…
There’s new data out on China, and some people say they are “shocked” and “surprised” the country’s manufacturing is hurting. At this point, you want to ask businesspeople who admit this if they are living under a rock. Since June 2022, manufacturing orders have been down 30%-40%. We are now in peak season and, as…
The earnings of Expeditors International were a perfect summation of the state of international freight in the second quarter: Whether it was on the water or in the air, the numbers were less than a year ago — by a large margin. And while Expeditors does not disclose enough granular tonnage data to make a…
Alberta is bolstering roadside worker safety rules, protecting first responders, tow truck operators, highway maintenance workers and snowplow operators with the slow down and move over legislation under the Traffic […]