Forward Air Sells Final-Mile Business to Hub Group for $262 Million
Forward Air has sold its final-mile business, Forward Air Final Mile (FAFM), to Hub Group for $262 million.
International Coalition Launches 'Operation Prosperity Guardian' to Safeguard Red Sea Trade Routes
An international coalition of countries, including the United States, the United Kingdom, and others, has launched "Operation Prosperity Guardian" to counter Houthi rebels targeting commercial ships in the Red Sea.
Tesla's Response to 2-Million-Vehicle Autopilot 'Recall' Sparks Debate on Autonomous Driving Safety
Tesla addressed a 2-million-vehicle Autopilot "recall" by releasing software version 2023.44.30 as a free over-the-air update to affected vehicles, enhancing safety alerts.
El Niño-Fueled Winter Storm Threatens Southern California with Heavy Rain and Flooding
Southern California is bracing for its first significant winter storm, fueled by an El Niño-influenced atmospheric river, which is expected to bring heavy rain and the risk of flooding, mudslides, and power outages.
Fossil Fuel Phase-Out Plans Remain Elusive After Global Climate Agreement
The recent U.N. agreement among nearly 200 countries to transition away from fossil fuels is being celebrated as a significant step in addressing climate change.
Harry Dent Predicts Imminent Market Crash in 2024
Economist Harry Dent is making a dire prediction for the markets in 2024, citing overvalued markets and excessive stimulus spending as causes for concern.
Tesla Raises Wages for Hourly Workers Amidst Unionization Pressures
Tesla is increasing wages for hourly employees at its Sparks, Nevada, battery factory, with low-end hourly wages rising from $20 to $22 (a 10% increase) and high-end wages increasing from $30.65 to $34.50 (a 12.5% increase).
Deutsche Bahn Launches Sale of DB Schenker to Focus on Core Railway Business
Deutsche Bahn, Germany's national railway operator, has initiated the sale of its logistics unit, DB Schenker, as part of its strategy to concentrate on its core railway business.
Reykjavik on Alert After Volcanic Eruption Threatens Gas Pollution
Iceland's capital, Reykjavik, faces potential gas pollution as a volcano erupted on the Reykjanes peninsula following weeks of earthquakes.
BP Joins Major Companies in Suspending Red Sea Shipments Amid Houthi Rebel Attacks
BP has decided to halt all shipments through the Red Sea due to recent attacks on trade vessels by Houthi rebels in Yemen.
Quebec Trucking Firm VP Sentenced to 10 Years in U.S. for Cross-Border Cocaine Smuggling
Guillaume Latour-Laitre, the vice president of a Quebec trucking firm, has been sentenced to 10 years in prison in the United States for his involvement in a cross-border cocaine smuggling operation.
Northeast Hit by Powerful Storm Causing Heavy Rains, High Winds, and Widespread Disruptions
A powerful storm system brought heavy rains, strong winds, and power outages to the Northeast, causing traffic disruptions, flight delays and cancellations, and flooding in several areas.
Spanish Amazon Workers Plan Strike Over Wages Ahead of Epiphany Holiday
Spanish workers at an Amazon logistics center in northern Spain, near the border with France, are planning a three-day strike from January 3 to 5 ahead of the Epiphany feast day.
Federal Reserve's Rate Cut Forecasts Spark Stock Rally While Posing Challenges for Savers
The Federal Reserve's announcement of a pause in benchmark interest rates and a forecast of rate cuts next year led to a surge in stock indexes to one-year highs.
Yellen Emphasizes Stabilizing U.S.-China Relationship and Collaboration on Key Issues
U.S. Treasury Secretary Janet Yellen expressed the importance of stabilizing the U.S.-China relationship during a dinner hosted by the U.S.-China Business Council.
GM Announces Layoffs at Michigan Plants Amid Restructuring and EV Transition
General Motors (GM) is laying off 1,314 workers at two Michigan plants, including one that produced the discontinued Chevy Bolt EV.
Paths to Decarbonize Key U.S. Economic Sectors Highlighted at COP28 as Global Fossil Fuel Transition Gains Momentum
COP28 in Dubai marked a historic moment as nations committed to transitioning away from fossil fuels to combat climate change.
California Braces for Stormy Second Half of December with Two Weather Systems Approaching
The first half of December in California has been dry, but a shift is expected in the second half as two storm systems approach the coast.
Strong Demand Amidst Capacity Oversupply are the Insights from FreightWaves State of Freight Webinar
The FreightWaves State of Freight webinar discussed the current state of the freight market, highlighting that while truckload rates remain relatively stable, demand for freight has been strong.
Cruise Sheds 900 Jobs and Refocuses Strategy Amid Challenges, While Waymo Expands
Cruise, the robotaxi company, has announced the layoff of 900 employees following the firing of nine executives amid the fallout from an October incident involving a pedestrian.