Category: Business
Biden Administration Engages in Urgent Talks to Prevent Major Port Strike
In an effort to prevent a potential strike that could paralyze major container ports along the U.S. Atlantic and Gulf Coasts, President Joe Biden’s aides are holding discussions with representatives from ocean carriers and terminal operators on September 27. The administration is focused on averting disruptions while affirming its stance against intervening to force workers…
DSV A/S Poised for Major Acquisition of DB Schenker in €14 Billion Deal
DSV A/S is nearing a landmark agreement to purchase DB Schenker, the logistics arm of Deutsche Bahn AG, in a deal valued at approximately €14 billion ($15.4 billion), sources familiar with the negotiations revealed. If completed, this transaction could become one of the largest in the transport sector. According to insiders, DSV has secured the…
Schneider National Reports decline in Q2 2024 Financial Results
GREEN BAY, WI — Schneider National, Inc. (NYSE: SNDR) has reported its financial performance for the second quarter ending June 30, 2024. The company saw a 51% drop in operating income to $51 million and a decrease in diluted earnings per share to $0.20, compared to $0.43 a year earlier. This decline was attributed to…
Knight-Swift Expands National Footprint with Acquisition of Dependable Highway Express Division
Phoenix, AZ — Knight-Swift Transportation Holdings Inc. (NYSE: KNX) has announced the acquisition of the non-union regional less-than-truckload (LTL) division of Dependable Highway Express, Inc. (Dependable), based in Los Angeles. The deal involves acquiring both operating assets and certain liabilities associated with Dependable’s LTL division, known as DHE. This acquisition is set to provide an…
Umicore Suspends $2.76 Billion Battery Materials Plant in Ontario Amid Slowed EV Market Growth
Umicore has announced it is halting investment in its planned $2.76 billion battery materials manufacturing facility in eastern Ontario, citing reduced growth projections for the electric vehicle sector. The global materials giant had previously secured substantial support for the project, with the federal government committing $551.3 million and the Ontario government pledging up to $424.6…