Yellow, the third-largest U.S. less-than-truckload (LTL) provider, is preparing to file for bankruptcy, according to The Wall Street Journal and other news outlets. The company has been struggling for some time with debts of $1.3 billion and declining revenues and reserves. Yellow Logistics, the company’s 3PL, is up for sale and Yellow is “actively” engaged […]
Read MoreUPS and union representatives are scheduled to resume talks in the coming week as the threat of an impending strike looms, with less than two weeks remaining before the current deal with the Teamsters union expires on July 31. Express delivery company UPS is urging swift action to reach a resolution with the Teamsters union, […]
Read MoreRecent data reveals a decrease in sales for both grocery stores and department stores, indicating a potential shift in consumer spending patterns. Particularly, sales at service stations have experienced a 1.4% drop attributed to the impact of lower gasoline prices. On the other hand, there was a slight 0.1% increase in sales at food services […]
Read MoreThe National Retail Federation (NRF) has released insights projecting unprecedented consumer spending on back-to-school and college items for the upcoming summer. According to the NRF’s annual survey conducted by Prosper Insights & Analytics, back-to-school spending is estimated to reach $41.5 billion this year, surpassing last year’s $36.9 billion and the previous record of $37.1 billion […]
Read MoreIn the first four months of this year, Mexico has once again solidified its position as America’s top trading partner, facilitating a staggering $263 billion worth of goods exchanged between the two nations. This robust trade with Mexico accounted for 15.4% of goods exported and imported by the US, surpassing trade totals with Canada and […]
Read MoreUS Treasury Secretary Janet Yellen’s visit to China has sparked optimism in Beijing that the Trump-era tariffs on Chinese imports could see some alleviation as she endeavors to improve relations between the two countries. However, the presence of robust anti-China sentiment within the US may pose significant obstacles to the realization of such tariff cuts. […]
Read MoreThe British Columbia Maritime Employers Association (BCMEA) is delighted to announce that after productive negotiations, a tentative agreement for a new 4-year deal has been reached, acknowledging the valuable skills and contributions of B.C.’s waterfront workforce. While the agreement is still pending ratification by both Parties, specific details will not be disclosed at this time. […]
Read MoreOn July 30, there was an unexpected announcement from American firm Bolt Threads, revealing that the production of its mycelium-based leather alternative, Mylo, had come to a halt. Mylo had emerged as one of the most promising and innovative materials in the fashion industry. Notably, renowned designer Stella McCartney collaborated with Bolt Threads to test […]
Read MoreA potential strike that could have had adverse effects on the demand for industrial warehouses in North America’s thriving commercial property sector seems to have been avoided with a tentative agreement between union dockworkers and West Coast port operators. Late Wednesday, the Pacific Maritime Association and the International Longshore and Warehouse Union announced that they […]
Read MoreLate last night, the International Longshore and Warehouse Union and the Pacific Maritime Association announced a tentative agreement on a new six-year deal. The details of the agreement were not released. The agreement must now be ratified by both parties. A copy of Acing Secretary of Labor Julie Su’s statement on the deal can be viewed […]
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