Why Should CEOs Earn 300 Times More Than Their Workers?
The United Auto Workers (UAW) is demanding a 40% raise for its members over the next four years, matching the 40% compensation increase that CEOs of major automakers have received during the same period.
US Inflation Falls, but Challenges Persist in Reaching Fed's 2% Target Amid Economic Pressures
Inflation in the US has dropped from 9% to 3% over the past year, but reducing it to the Federal Reserve's 2% target rate proves to be a tougher task.
XPO Logistics Achieves Reduction in Damage Claims and Pursues Further Improvements
XPO Logistics has achieved a reduction in its damage claims ratio as a percentage of LTL (Less Than Truckload) revenue, which remained at 0.7% in Q2, showing improvement from the previous year.
AeroCision Seeks to Pay Suppliers $5 Million Amid Bankruptcy
AeroCision, an aerospace supplier, has received interim court approval to pay critical vendors up to $5 million, including recent shipments made before filing for Chapter 11 bankruptcy.
Moody's Issues Warning of Potential Credit Rating Downgrade for 6 Major US Banks
Credit ratings agency Moody's has placed the credit ratings of six major US banks, including Bank of New York Mellon, State Street, and Northern Trust, under review for a possible downgrade.
Retailers Tighten Customer Perks and Rewards Programs
Companies across various industries are cutting back on customer perks as they prioritize higher profit margins.
Industry's Vigilance Rises in Response to Heightened Cargo Theft
Cargo theft has reached a decade-high, with the second quarter of 2023 witnessing a 57% increase compared to the previous year, totaling 582 thefts across the U.S. and Canada.
Yellow Faces Class-Action Lawsuit Over Alleged Inadequate Notice of Layoffs
Yellow Corp. is facing a class-action lawsuit by a laid-off employee, Armando Rivera, who alleges that the company failed to provide the required 60 days' notice before mass layoffs affecting approximately 30,000 workers.
Extreme Heat Has a Searing Impact on Raising Gas Prices
This summer's historic heatwave is causing gasoline prices to surge to nine-month highs in the United States.
US Apparel Retailers Break Ties With China Amid Growing Concerns
A growing number of US fashion companies are distancing themselves from China as their top supplier, with 61% of apparel retail CEOs no longer relying on China as their primary source.
Resilient U.S. Job Market Defies Recession Predictions Amid Cooling Conditions
The job market in the United States has shown signs of cooling over the summer, but it remains strong enough to dispel fears of a recession despite higher interest rates.
The logistics economy experienced a slowdown in July
The Logistics Managers' Index (LMI) report for July indicates a slowdown in economic conditions within the logistics industry, continuing a trend that started earlier this year.
Tesla Seeks Funding for Megachargers
Tesla is planning to revolutionize the charging infrastructure for its fully electric long-haul trucks in the US.
Shopify Regains Growth Momentum After Divesting Logistics and Layoffs
Shopify experienced a 31% year-over-year increase in revenue during the second quarter, reaching nearly $1.7 billion, following the company's renewed focus on building e-commerce stores for brands.
OTR Clutch Debit Service is Empowering Carriers with Innovative Banking Solutions in the Trucking Industry
OTR Solutions has introduced OTR Clutch, a banking application designed for carriers in the United States.
Walmart's Bold Step Towards Sustainable Fashion
Retail giant Walmart has set its sights on promoting sustainable fashion within its supply chain
Uber Freight Reports Widening EBITDA Loss Compared to Last Year, But Shows Improvement from Q1
Uber Freight reported a significant decline in its second-quarter earnings before interest, taxes, depreciation, and amortization (EBITDA) compared to a year ago but showed improvement sequentially.
DHL Express Announces $192M Investment in Maintenance Hangar at CVG Superhub
DHL Express is set to invest $192 million in constructing an aircraft maintenance facility at Cincinnati/Northern Kentucky International Airport (CVG), the location of its primary U.S. air hub.
Is a 'Rolling Recession' or 'Richcession' a Potential Savior for the US Economy?
Despite warnings of an impending recession, the U.S. economy is showing signs of acceleration.
Rising Labor Costs and Declining Cargo Squeeze US Rail Profits
US railroad companies, including Union Pacific Corp., CSX Corp., and Norfolk Southern Corp., are facing a squeeze on operating profits due to higher labor costs and weaker sales amid an ongoing freight recession.