Port-Trucking Firms Run Into Labor Dispute
The busiest ports in the U.S. are emerging as a key battleground in the legal fight over whether port-truck drivers should be counted as employees or independent contractors.
America’s shift to online shopping and fast-fashion chains is squeezing Macy’s, which reported another quarter of sinking sales and slashed its financial targets for the year.
The Obama administration filed a trade complaint against China over access to the Asian giant’s market for U.S. chicken, the latest friction point in an election year that is casting a harsh light on U.S. economic ties with China.
Staples and Office Depot ended their merger plans after a federal judge blocked their deal because of antitrust concerns, prompting shares of both companies to fall Wednesday.
China’s car sales accelerated in April as a tax break continued to encourage buyers, which eased some pressure on dealers grappling with high inventory levels.
Monsanto said it could pull its biotech soybean seeds out of Argentina, one of the biggest overseas markets for U.S. agricultural firms, as it confronts difficulties collecting seed royalties and a decline in the country’s currency.
General Electric agreed to buy a heat recovery steam generator business for $250 million, expanding the company’s power assets as it shifts its focus back to industrials.
Tyson Foods is weighing deals that would help the biggest U.S. meat company build its presence in foreign markets as executives boosted projections for record profits this year.
Coffee production in Vietnam, the world’s biggest producer of robusta beans, will likely fall by nearly a third because of severe drought, according to Vietnam’s coffee trade group.
The world’s biggest steelmaker said U.S. and European markets are stabilizing after record Chinese exports last year caused prices to plummet around the globe.
Old Dominion and ABF Freight will charge shippers extra to move freight in California in the wake of new labor rules
China is looking to boost exports, adding to the inducements the government offers companies that are meant to bolster growth but are exacerbating trade friction.
Shipping sectors added 8.600 jobs, with hiring accelerating at warehousing operations even as rail operators retrenched.
Expansion in outbound trade at key export gateway in April comes as dollar eases on world markets, boosting outbound U.S. traffic.