Wednesday, February 5

Tag: Freight Transport/Logistics

Crews Extinguish Fire After CSX Train Derailment in Kentucky
23Nov By adminNo Comments
World

Crews Extinguish Fire After CSX Train Derailment in Kentucky

Updated Nov. 23, 2023 5:40 pm ETHundreds of emergency workers in Kentucky put out a large fire on Thursday after a CSX freight train carrying molten sulfur derailed a day earlier, officials said. Residents evacuated from the small town of Livingston can return home.Gov. Andy Beshear declared a state of emergency due to the Rockcastle County derailment, which involved 16 cars, according to the Florida-based train operator. CSX said crews are recovering spilled material from the ground and removing railcars. The cause of the derailment is under investigation, the company said.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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She Messed Up Amazon’s Website. Now She’s One of Its Leaders.
18Nov By adminNo Comments
World

She Messed Up Amazon’s Website. Now She’s One of Its Leaders.

In her first year at Amazon.com, Beryl Tomay made a software code change for Amazon’s order-confirmation page that caused it to appear blank for customers for over an hour. Later on, she made a change to the database of the Kindle e-reader that prevented users from signing in or downloading anything. That error was so large that Jeff Bezos, Amazon’s founder, noticed and emailed to ask about the problem.Today, Tomay is in charge of a crucial part of Amazon that is in its busiest period right now: She oversees businesses and technology at the company’s “last mile” delivery unit—the logistics business that gets packages through the final steps on their way to customers’ doorsteps. It’s a chokepoint that will help determine whether Amazon is successful during the make-or-break holiday season....
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Last-Minute Bid Would Seek to Revive Collapsed Trucker Yellow 
8Nov By adminNo Comments
World

Last-Minute Bid Would Seek to Revive Collapsed Trucker Yellow 

Jack Cooper Transport, a specialized operator that hauls automobiles for carmakers, plans to submit a bid backed by $1 billion in financing and support from the Teamsters union and some U.S. lawmakers that would halt the liquidation of trucking giant Yellow and seek to resurrect the shuttered business, according to people familiar with the matter. The improbable effort would require the Treasury Department to defer repayment for several years of a $700 million loan provided to Yellow under a Covid pandemic-era bailout, one of several debts that helped push one of the country’s biggest truckers into collapse earlier this year. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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DHL Owner Deutsche Post Sees Earnings at Lower End of Guidance
8Nov By adminNo Comments
World

DHL Owner Deutsche Post Sees Earnings at Lower End of Guidance

DHL owner Deutsche Post narrowed its 2023 guidance toward the lower end of its previous outlook, after its expectations of an economic recovery didn’t materialize, and reported lower third-quarter revenue and earnings.The German logistics group, also known as DHL Group, said it now expects earnings before interest and taxes to be between 6.2 billion euros and 6.6 billion euros ($6.63 billion-$7.06 billion), against its previous target of EUR6.2 billion to EUR7.0 billion.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Maersk to Cut 10,000 Jobs as Shipping-Industry Boom Ends
4Nov By adminNo Comments
World

Maersk to Cut 10,000 Jobs as Shipping-Industry Boom Ends

Updated Nov. 3, 2023 8:16 am ETShipping and logistics giant A.P. Moller-Maersk said it would cut more than 10,000 jobs, as a pandemic-fueled cargo boom has ended, leaving the industry with a surplus of ships and sharply lower freight rates. Maersk, a bellwether for global trade, saw its third-quarter profit plummet to $521 million from $8.88 billion last year. Its main Ocean division posted a quarterly loss for the first time in many years.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Yellow’s Rivals Are Getting a Boost From the Trucker’s Demise
31Oct By adminNo Comments
World

Yellow’s Rivals Are Getting a Boost From the Trucker’s Demise

The collapse of one of the largest U.S. trucking companies is propping up competitors in a lean freight market.XPO, ABF Freight and Saia are among the carriers reporting strong growth in pricing power, shipment volumes and other key measures during the most recent quarter in trucking’s less-than-truckload sector, a high-stakes corner of the market in which carriers combine freight from multiple customers in a single trailer. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Nvidia’s $5 Billion of China Orders in Limbo After Latest U.S. Curbs
31Oct By adminNo Comments
World

Nvidia’s $5 Billion of China Orders in Limbo After Latest U.S. Curbs

Oct. 30, 2023 11:00 pm ETSINGAPORE—New U.S. export controls may compel artificial-intelligence giant Nvidia to cancel billions of dollars in next-year orders for its advanced chips to China, a move that could deprive Chinese tech companies of crucial AI resources.The Santa Clara, Calif.-based company had already finished delivering orders of its advanced AI chips to China for this year, according to people familiar with the matter, and was pushing to deliver some 2024 orders in advance before the new rules were scheduled to come into effect in mid-November.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Nvidia’s $5 Billion of China Orders in Limbo After Latest U.S. Curbs
31Oct By adminNo Comments
Technology

Nvidia’s $5 Billion of China Orders in Limbo After Latest U.S. Curbs

Oct. 30, 2023 11:00 pm ETSINGAPORE—New U.S. export controls may compel artificial-intelligence giant Nvidia to cancel billions of dollars in next-year orders for its advanced chips to China, a move that could deprive Chinese tech companies of crucial AI resources.The Santa Clara, Calif.-based company had already finished delivering orders of its advanced AI chips to China for this year, according to people familiar with the matter, and was pushing to deliver some 2024 orders in advance before the new rules were scheduled to come into effect in mid-November.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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