WASHINGTON — The U.S. economy accelerated unexpectedly to a 2.4% annual growth rate from April through June, showing continued resilience in the face of steadily higher interest rates.
Category: News
Congress Urged to Regulate Self-Driving Vehicles
WASHINGTON — Advocates for the self-driving vehicle industry on July 26 warned that years of regulatory inaction is putting American manufacturers at a competitive disadvantage.
Yellow Says Discussions With Teamsters Ongoing
Less-than-truckload carrier Yellow Corp. said it continues to negotiate with union leaders as the future of the company, which has been in operation for nearly 100 years, may be in jeopardy.
Waymo Via to Focus on Ride-Hailing Over Autonomous Trucking
Waymo, the self-driving unit owned by Alphabet Inc., is slowing the development of autonomous trucking that’s being done by its Via subsidiary.
Traton’s Profit Jumps in Second Quarter
Traton SE’s profits soared in the second quarter of 2023 as sales jumped compared with the year-ago period, the parent company of Navistar said July 26.
June Used Class 8 Sales Little Changed From Last Year
Used Class 8 truck sales in June came in at 21,500 units, equal to sales figures from the year-ago period, ACT Research reported.
Union Pacific Brings Back Jim Vena as CEO
OMAHA, Neb. — Union Pacific on July 26 hired Jim Vena as CEO as the company cut its outlook after reporting disappointing results driven by weakening consumer demand and higher labor costs.
AAPA CEO Connor to Retire Oct. 1 After Four Years at Helm
American Association of Port Authorities CEO Chris Connor announced he is retiring effective Oct. 1.
Fed Raises Key Interest Rate by a Quarter-Point
The Federal Reserve raised its key interest rate by a quarter-point July 26 from roughly 5.1% to 5.3% — its highest level since 2001.
Several States Alter Fuel Tax Structures
Higher gasoline and diesel taxes hit the pumps in several states starting July 1, while new laws also took effect to raise revenue from the sale of alternative fuels.