US Service Sector Expands in August at Fastest Pace in Six Months
The US service sector expanded in August at its fastest pace in six months, driven by strong demand and a pickup in business activity. The Institute for Supply Management's services index rose 1.3 points to 55.4, the highest level since…
PlusAI Unveils Third Attempt to Go Public with $800 Million Valuation
Autonomous software developer PlusAI is set to merge with a Nasdaq-listed special purpose acquisition company, Texas Ventures Acquisition III, in a deal valuing the company at $800 million. This is PlusAI's third attempt to go public, following previous failed SPAC…
Walmart to Build $1.3B Georgia Fulfillment Center, Creating 1,000 Jobs
Walmart is set to begin construction on a $1.3 billion automated fulfillment center in Carnesville, Georgia, in late 2026. The 1.5 million-square-foot facility will create about 1,000 jobs and expand the retailer's same-day and next-day shipping capacity. The project is…
Major Carmakers Urge Congress to Permanently Ban Chinese Cars
A coalition of major automakers, represented by the Alliance for Automotive Innovation, has urged Congress to permanently ban Chinese connected vehicles, software, and hardware from the US market. The move is driven by concerns over economic and national security threats…
August Class 8 Orders Rise 31% Annually Amid Soft Year-Ago Comparisons
North American Class 8 truck orders rose 31% annually in August to 16,800 units, according to ACT Research, but fell 25.5% from July due to normal seasonality. FTR Transportation Intelligence estimated 18,200 orders, up 42% annually and down 19% monthly.…
White House Targets Trucking Fraud in Enforcement Surge
The White House has launched a multiagency campaign to combat trucking industry fraud, which it says threatens public safety and commerce. Transportation Secretary Sean Duffy announced the initiative, which brings together the FBI, Department of Justice, and other federal agencies…
Guinness Beer Heist Worth $155,000 Leaves Police with a Lot to Investigate
British authorities are on the hunt for two trailer loads of stolen Guinness beer, valued at $155,000, and the trailers themselves, worth an estimated $67,000. The theft occurred on August 31 from an industrial park near Liverpool, with the beer…
Volkswagen to Cut 50,000 Jobs, Reduce Models and Industrial Footprint
Volkswagen's supervisory board has approved a comprehensive restructuring plan, known as the Future Plan, which includes cutting 50,000 jobs, reducing the number of models, and shrinking the company's industrial footprint. The plan, which was approved on September 3, aims to…
US Diesel Prices Hit Record High of $5.85 a Gallon Amid Global Supply Chain Disruptions
US diesel prices have reached a record high of $5.85 a gallon due to global supply chain disruptions caused by the six-month war between the US and Iran. This has led to increased transportation costs for businesses, which may result…
U.S. Job Market Rebounds with 162,000 New Jobs, Unemployment Rate Remains at 4.1%
The U.S. job market rebounded in August, with employers adding a surprising 162,000 jobs and the unemployment rate staying at a low 4.1%. This exceeded economists' expectations and reversed weaker July estimates, suggesting labor market resilience. However, wage growth slowed…