Business

Kenan Advantage Group announced the acquisition of Texas-based XBL.

Schneider National announced it has acquired Cowan Systems and some of its real estate assets in a deal totaling more than $400 million.

Department store retailer Macy’s, Inc., stated on Monday that an employee hid up to $154 million through intentional accounting errors starting in 2021.

Kenan Advantage Group announced Friday that it has acquired Michigan-based dry bulk hauler PRM Trucking.

A co-owner of a Massachusetts trucking company was sentenced to two months in prison after admitting that he falsified driving logs and lied to investigators in connection with a June 2019 fatal collision involving the driver of one of its trucks.

UPS is paying a steep fine to the SEC for how it valued UPS Freight before it was sold to TFI.

A majority stake in less-than-truckload carrier Roadrunner has changed hands from an activist investor to an investment group led by the company’s CEO.

This week: Fraud tech captures FreightTech awards’ top spot, Circle Logistics shares its fraud prevention strategy and Guy Fieri just wants his tequila back.

The owner of a Florida trucking and logistics company has been convicted for his role in a three-year truck investment Ponzi scheme that bilked investors out of $112 million.

There are some delays as Canada’s top import gateways work off backlogs of containers from labor-related shutdowns.

Freight asset intelligence platform GenLogs is now using its carrier identification data to help law enforcement solve thefts.

UPS, Advance Auto Parts, Great Dane LLC and Ryder Transportation Solutions recently announced a total of 1,277 freight-related job cuts.

Josh Allen, chief commercial officer at ITS Logistics, spoke Thursday about investments the logistics industry should make in 2025 to develop their companies and workforce.

High tariffs on Chinese imports, promised by President-elect Trump, will likely slow U.S. trade in 2025 as uncertainty hinders investment in reshoring of manufacturing, a trade analyst predicts.

Adam McElhinney, the CEO of Uptake Technologies, spoke about what opportunities the logistics community has to utilize AI.

Bill Driegert, head of trucking at Flexport, spoke Wednesday at the F3: Future of Freight Festival in Chattanooga, Tennessee, about technology that is transforming the trucking industry.

Intermediaries and incumbents roared back in the FreightTech 25 rankings during a protracted soft market for freight.

After a pullback in lending from private equity- and VC-backed firms investing in supply chain tech after the COVID pandemic, Benjamin Gordon, founder and managing partner of Cambridge Capital, says there’s been a resurgence in strategic M&A.

At FreightWaves’ F3: Future of Freight Festival, trucking-focused attorney Matthew Leffler said the $100 million-plus Werner case is “the most important case facing the trucking industry now.”

FreightWaves’ F3: Future of Freight Festival continued into its second day with more rapid-fire FreightTech demos on Wednesday.

Trucking companies like less regulation, and that’s what they’ll get under a Trump administration. But executives should be careful what they wish for, experts at FreightWaves’ F3: Future of Freight Festival said.

Frank Kenney of Cleo gives insight into the undeniable market trend toward more data visibility and transparency as a selling point for any clients in the freight industry. Every company has unique needs and models, and those needs are best served by being as open as possible.

Speaking at FreightWaves’ F3: Future of Freight Festival, John Larkin, senior partner at Venture 53, discusses what he looks for in an early stage company.

Covenant Logistics Group CEO David Parker predicted at FreightWaves’ F3: Future of Freight Festival on Wednesday that there will be year-over-year peak season growth in the trucking industry. (Photo: Jim Allen/FreightWaves)

On a recent episode of WHAT THE TRUCK?!?, Optimus Technologies talks about the impact of biodiesel and what the election results mean for clean fuels.

Ryan Joyce, a former CIA operations officer, drew on his experience tracking terrorist networks to execute the company strategy to fight freight fraud.

Nikola Corp. leader Ryan Clayton said the rising demand for hydrogen could require as many as 50 fueling stations in the next three years to meet the need.

FreightWaves’ F3: Future of Freight Festival saw speedy demos from over a dozen industry innovators sporting all kinds of FreightTech.

Mexico City-based Solvento has raised $12.5 million in a Series A round to help provide trucking companies with access to payment solutions.

The American Apparel & Footwear Association said the U.S. should do more to protect Mideast shipping as attacks on vessels spur “unsustainable” higher costs and delays.

‘Business Wars’ host David Brown talks about supply chains and success stories at FreightWaves’ Future of Freight Festival.

This year’s F3: Future of Freight Festival will pull into the heart of Freight Alley in Chattanooga, Tennessee, Nov. 19-21.

Smitha Raphael, chief product and delivery officer at SnapFulfil, highlights why flexibility and seamless integrations in warehouse management tech are now top priorities for 3PLs and B2C companies.

The New York Shipping Exchange announced it has closed a Series C funding round and launched a series of shipping rate indexes.

Amazon, DHL, GXO, Kuehne+Nagel, Pepsico and True Value Co. are among firms announcing job cuts, according to a new round of worker reduction notices.

Freight Masters Inc. owner Herman Shaw was sentenced to 30 months in prison for his role in a scheme to defraud the Paycheck Protection Program.

Four new container cranes will help the Port of Virginia handle ultra large container vessels at Virginia International Gateway.

The U.S. Class I railroads have turned the corner on service and resiliency and are poised for volume growth for the first time in years.

A California logistics company has filed for bankruptcy protection, citing the loss of its largest “anchor” customers as one of the main reasons it is seeking to reorganize.

Previously known as FreightWaves SONAR, the supply chain data platform rebrands to “SONAR,” highlighting its core focus on the supply chain data platform. 

Blanket tariffs, like any other tax, may include certain exemptions. It is these exemptions — not the tariffs themselves — that are the real tool.

New York Gov. Kathy Hochul announced the state would continue plans to enact congestion pricing tolls in New York City, drawing criticism from the Trucking Association of New York.

President-elect Donald Trump’s tech policies could boost FreightTech for AI, warehouse automation and 3D printing.

Samsara Inc. filed a new lawsuit accusing rival Motive Technologies CEO Shoaib Makani and its executives of engaging in a “multi-year campaign to procure Samsara Trade Secrets” to compete with Samsara in the fleet management market.

Welcome to the inaugural edition of Fraud Watch, FreightWaves’ dedicated newsletter tackling the burgeoning crisis of freight fraud.

Supply chain services giant Kuehne+Nagel said it has acquired a majority share of IMC Logistics, a marine drayage provider handling 2 million TEUs per year.

If China retaliates against tariffs on exports to the U.S. with its own tariffs, it could increase prices for Chinese consumers.

After Uber recently announced bookings growth, the company has launched a broker offering that could help support future shipment growth and brokerage penetration.

A Florida jury awarded $125 million in punitive damages and $16.5 million in other damages against a small trucking company that no longer exists.

FedEx is strengthening its air network in Latin America with two new flights linking markets in South and Central America with Miami, the company announced.

PS Logistics announced it has acquired Louisiana-based flatbed carrier Fluker Transportation for an undisclosed sum.

Orderful has raised $15 million with NewRoad Capital Partners to help expand Orderful’s offerings, including self-service EDI tools for small and midsize businesses.

A federal bankruptcy court has denied a request to reconsider its ruling on withdrawal liability claims against Yellow Corp.

California’s attorney general’s office has filed a brief against OOIDA’s attempts to block the AB5 independent contractor law from the state’s trucking sector.

Radiant Logistics beat expectations for the recent quarter and expects an uptick in gross profit during the last quarter of the year as it supports hurricane relief efforts.

Smaller railroads have received $2.6 billion for more than 220 projects since the inception of the Federal Railroad Administration’s Consolidated Rail Infrastructure and Safety Improvement grant program.

The freight industry must take a series of steps to combat an epidemic of fraud.

Uber Freight’s payout to Greenbriar signifies a shift, highlighting both Uber Freight’s evolving valuation and the foresight of Greenbriar’s strategic financial protections.

With the next Trump administration expected to drive regulatory changes, experts anticipate a surge in M&A activity across retail, e-commerce and FreightTech, as companies like Amazon and DoorDash look to expand in a pro-business environment.

While imposing tariffs in the past has done damage to the U.S. economy, today’s incoming tariffs are likely to have a different outcome for a multitude of reasons.

Air Transport Services Group said fewer aircraft in revenue service plus higher expenses led to a reduction in core operating profit during the third quarter, but the current quarter is expected to be better.

Consumers are concerned that imposing tariffs means retailers will raise the price of goods. But retailers are likely to look for other sourcing options and new strategies.

BNSF Railway, CSX, and Union Pacific filed lawsuits against the Federal Railroad Administration today for its failure to act on a half dozen safety waiver requests that in some cases would allow railroads to scale back visual inspections in areas where they have deployed new high-tech train and track inspection systems.

China isn’t about to let its export market go belly-up. Instead, it will do what it always does – pump money into its industries to soften the blow of U.S. tariffs.

Now on demand on WHAT THE TRUCK?!? Dooner is joined by Craig Fuller; Molson Hart; Thom Albrecht

The United States Maritime Alliance and the International Longshoremen’s Association are scheduled to resume bargaining next week on a new master contract covering 45,000 workers at 36 East and Gulf Coast ports.

Proficient Auto Logistics had warned of a weak quarter. The numbers released Friday proved that projection correct.

After the most prolonged freight recession in history, the market has been showing signs of recovery over the past few months.

Bharath Krishnamoorthy, co-founder and CEO at Denim, discussed the ways freight brokers streamline their operations.

As public confidence in autonomous vehicles continues low, autonomous trucking developers are reeling in safety data from third-party experts.

Donald Trump’s election victory has huge implications for U.S. trade and tax policies, climate change, the war in Ukraine, electric vehicles, and illegal immigration. Here is a summary of policies he has said he will pursue in his second term.

COVID-19, a shift in China’s main focus, an imbalance in U.S. trade with China and more all mean reassessing how nations engage with global trade.

For months now, it has been clear that shippers have frontloaded record imports to the country, largely to avoid expected tariffs.

Old Dominion, CSX among largest post-election gainers as freight stocks outperformed broader averages.

President-elect Donald Trump’s campaign focused heavily on tariffs against China. Now that he’s won, tariffs are getting a lot of attention. But the issue has more than economic implications. It is about national security.

RXO is boasting that its projected efficiency savings from the Coyote Logistics acquisition will surpass earlier estimates.

Judy Love, the co-founder of Love’s Travel Stops, died on Tuesday in Oklahoma City. She was 87.

The Transportation Security Administration has proposed a rule that would require cybersecurity risk management and reporting requirements for some freight and passenger railroads, as well as rail transportation.

RXO’s third-quarter earnings were highlighted by the first numbers from Coyote Logistics as well as an operating loss.

A family-owned cross-border trucking company — McKevitt Trucking, headquartered in Thunder Bay, Ontario – has ceased operations after more than three-quarters of a century.

Bipartisan bills including the Safeguarding Our Supply Chains Act and the Combating Organized Retail Crime Act of 2023 propose significant federal support to address the increase in freight fraud and organized retail crime.

An extensive study by a U.N. panel found that Yemen’s Houthi rebels are taking in as much as $180 million a month in protection money from shipowners.

Schneider National is hopeful for a better seasonal inflection in the fourth quarter, noting some areas of the truckload market are seeing significant capacity exits.

As the Senate shifts toward the right, rail safety could have a different future, especially as the pending rail safety legislation did not secure enough votes to continue. But experts believe there are a few items that could be considered.

Two incendiary devices bound for delivery by DHL from Europe to North America were discovered this summer, prompting Western officials to investigate their origin.

Wabash National, feeling the impact of lower trailer orders, gets a negative outlook at S&P.

Tariffs, tax cuts and legislation supported by President-elect Donald Trump are predicted to benefit the freight industry.

Schneider National missed third-quarter expectations Wednesday, but shares of the truckload carrier were up 4% in early trading.

Trimble Inc. said its transportation segment performed well during the most recent quarter, with revenue increasing 1.4% to $195 million.

Lineage Inc. announced quarterly results Wednesday for the first time since becoming a public company.

A group with trucking interests as a key driver has been formed in Texas to push new tort reform.

A Miami trucking company and its five affiliates with more than 400 drivers recently filed for Chapter 11 bankruptcy protection.

A former bookkeeper for an Iowa trucking company was sentenced to two years in prison after a guilty plea.

Cargojet reported good third-quarter results and says it is adding capacity to meet expected demand growth.

GXO Logistics Inc. sees an upward trend in the global freight market in 2025, boosted by e-commerce.

Alone among major liner operators, CMA CGM of France has maintained scheduled voyages between Asia, the Mediterranean and North America ports via the turbulent Red Sea.

International Association of Machinists and Aerospace Workers union members voted to approve a new contract with Boeing on Monday, putting to an end a lengthy strike in the Pacific Northwest.

Expeditors International by numerous metrics had a strong third quarter.

Mike Baudendistel, head of intermodal solutions at FreightWaves SONAR, discussed on The Stockout’s election special Monday what Tuesday’s presidential election might mean for the retail and consumer packaged goods industries.

Forward Air lowered full-year earnings guidance on Monday and said it wouldn’t address press reports that it is up for sale following a messy merger.