General News
A 104-year-old farmer's tractor sale points to farm recovery
More growers are sending equipment to the auction block, and the market has been so starved of equipment that buyers are absorbing the new supply and bids are staying strong.
Fleets turn to AI to extend the reach of driver coaching
Safety managers at two large carriers discussed how they are using AI tools to provide more timely guidance to their drivers at a technology summit this summer.
Crop prices record biggest monthly gain since 2012
Rising energy and transport bills driven by the war in Iran are fueling worries about the cost of everyday pantry staples from bread to meat and dairy.
Oil prices top $90 as U.S. hits Iran in Strait of Hormuz
Oil prices surged more than 3% after the U.S. strike on Aug. 30 broke a lull in fighting in a war that has lasted more than six months. Brent crude, the international standard, jumped 3.2%, to $90.91 a barrel.
Nissan and Honda agree to work together on software for cars
Under the deal, Nissan and Honda will share standardized parts in “core ECUs,” or electronic control units, as well as software.
3 more states end non-domiciled CDL programs
In response to a crackdown in federal enforcement, more states are opting out of the voluntary programs. For many, compliance requires significant changes.
Rivian CFO Claire McDonough moves to GE Vernova
The leadership change injects a measure of uncertainty at Rivian as the company works to accelerate deliveries of its new, lower-cost line of vehicles.
Ports volumes in July slow despite pockets of strength
Cargo shipments through the largest U.S. seaports exhibited signs of summertime strength amid uneven volume and tightening capacity, experts said.
Abu Dhabi-backed Mubadala buys Arrive Logistics majority stake
Mubadala Capital is a subsidiary of Mubadala Investment, one of the sovereign wealth funds of the government of Abu Dhabi. The price tag was not disclosed.
Chevron nears deal to expand oil operations in Venezuela
Chevron is negotiating to add two new oil fields to its operations in Venezuela, according to people familiar with the matter, Bloomberg reports.
U.S. commander declares Hormuz shipping lanes are mine-free
U.S. allies, however, have privately warned that the strait, a key thoroughfare for Middle East oil, natural gas and fertilizer, was still likely mined.
Fed chair signals interest rate hikes may be needed
Kevin Warsh acknowledged that recent inflation reports show it has cooled a bit, but “they do not tell me that underlying trends have meaningfully improved.”
DTNA to open Detroit Gen 6 engines order book Sept. 1
The Generation 6 engines meet Environmental Protection Agency 2027 nitrogen oxide emissions rules scheduled to become effective Jan. 1.
Saudi oil sale signals more Hormuz exits
Aramco is now selling its heavier grades by moving them through Hormuz. Other Persian Gulf nations including Iraq and Qatar have also increased crude exports.
Venezuela weighs OPEC exit as U.S. discusses oil stake
Taking a stake in Venezuela’s oil reserves would mark an almost unprecedented intervention by the U.S. in another country’s economy.
Oil prices still volatile on Iran war uncertainty
The price for a barrel of Brent crude, the international standard, rose 0.2% on Aug. 28 to $88.68. Oil prices have been a wild card for inflation.
Walmart exec Jane Ewing takes Nike CCO post
Nike said it hired Jane Ewing from Walmart to become the sportswear company’s chief commercial officer.
ATA: Military shipment awards may violate department policy
American Trucking Associations is warning the Trump Administration about possible weaknesses in the oversight of military freight transportation.
Maine, Alaska net relief as Canada drops fish tariffs
Canada canceled planned tariffs on about C$1.1 billion of American fish and seafood products, a break for Maine and Alaska, both major fish exporters.
Trump cuts tariffs on ground beef products to lower prices
Lean beef trimmings will be temporarily exempted from a higher tariff rate if they exceed a pre-set quota. The duty relief will last for 90 days, and is limited to 100,000 tons per month.