Atlanta Fed President Raphael Bostic Predicts Longer Period of Higher Interest Rates
The Federal Reserve has raised its key interest rate to around 5.4% to curb inflation, but policymakers are at a critical juncture considering whether to raise rates even further or maintain the current level.
Proposed Overtime Rule by DOL Suggests $55K Threshold with Automatic 3-Year Updates
The historical activist roots of the Labor Day holiday are particularly evident this year, with labor unions actively challenging working conditions across various industries.
Norfolk Southern Anticipates Weeks for Train Backlog Recovery
Norfolk Southern, an Atlanta-based railroad, is facing a significant backlog of trains following a recent service outage.
Amid Strikes and Fresh Union Contracts, Labor Day Celebrates Strong Organizational Roots This Year
International distributor NRS Logistics has announced plans to construct its inaugural North American facility in Casa Grande, Arizona.
U.S. Announces $12 Billion Fund for Advanced Vehicles and Suppliers
The U.S. Energy Secretary Jennifer Granholm revealed plans for the Biden Administration to allocate $12 billion in loans and grants to automakers and suppliers, aimed at facilitating the transformation of their facilities to produce electric vehicles (EVs) and other advanced vehicle technologies.
Fashion Execs Anticipate Further Sourcing Reductions from China in 2023
According to the U.S. Fashion Industry Association's latest industry survey, nearly 80% of fashion executives intend to decrease their sourcing from China over the next two years.
Drought-hit Panama Canal Lets More Unbooked Ships Pass in Bid to Ease Queue
The Panama Canal, grappling with drought conditions, has implemented a temporary measure to limit the number of new reserved passage slots in an effort to alleviate a bottleneck of ships waiting to transit without reservations.
ALAN Gears Up for Logistics Response to Maui Wildfires
ALAN (American Logistics Aid Network), a disaster recovery nonprofit group, is gearing up to provide support to victims of the wildfires on Hawaii's Maui island.
Examining the Potential Impact of Insurance Costs on the EV Revolution
The incident involving a fire on a cargo ship carrying electric vehicles highlights potential insurance challenges and setbacks for the EV revolution.
Macy's Commitment to Eco-Friendly Business Practices
Macy's Vice President of Sustainability, Keelin Evans, emphasizes that sustainability is a pivotal element of Macy's modernization as the department store giant reshapes its models and processes for a sustainable business.
A Totaled Tesla Sold for Parts in the U.S. Reemerges Online in Ukraine
A Tesla Model X that was declared 'totaled' in the U.S. last year unexpectedly reappeared online and began sending notifications to its former owner, CNBC Executive Editor Jay Yarow, several months later.
Geopolitical Tensions Prompt 35% of Importers to Reevaluate Supply Chains
A recent survey by the Institute of Directors (IoD) reveals that over a third of U.K. importers (35%) have been impacted by escalating geopolitical tensions, primarily related to China, prompting them to reassess their supply chains.
Zara's Billionaire Owner Dives into California Real Estate Market as Landlord for Walmart
Zara's billionaire founder, Amancio Ortega, is further expanding his logistics network in the U.S. with the acquisition of a logistics center in Inland Empire, California, for $109 million.
Navy League Proposes Jones Act and Marine Highways for Enhanced Marine Highway and Military Sealift
The Navy League of the United States has proposed a significant investment in building dual-use ships that can transport both commercial and military cargo.
China Surpasses Japan as Largest Auto Exporter, Fueled by Electric Vehicle Growth
China has surpassed Japan as the largest auto exporter during the first half of the year, exporting 2.34 million vehicles compared to Japan's 2.02 million, marking the first time this has occurred at the half-year mark.
Delivery Providers Pickup Now and Point Pickup Merge to Create a Comprehensive 'One-Stop Shop
Delivery providers Point Pickup Technologies and Pickup Now have merged to create a unified source for nationwide on-demand deliveries.
4 Factors Driving Food and Beverage Producers Toward Expanding Drop-Trailer Shipping
Despite significant changes in consumer lifestyles during the pandemic, the trend of increased beverage consumption between Memorial Day and Labor Day has persisted.
Report Reveals Tesla Depends on China for 39% of Battery Supply Chain
A recent analysis conducted by Nikkei Asia and Tokyo’s Fronteo has revealed that nearly 40% of the suppliers for materials used in Tesla's batteries are Chinese companies.
Norfolk Southern Commits to Enhance Worker Health at East Palestine, Ohio, Derailment Site
Norfolk Southern Co. has reached a settlement with federal regulators and its unionized workforce to address concerns about worker health during track rebuilding and cleanup operations near the site of a hazardous train derailment near East Palestine, Ohio.
UPS Attracts Job Seekers with $170,000 Driver Pay After Union Victory
Since securing a $30 billion contract over five years, United Parcel Service (UPS) has experienced a surge in interest from job seekers.