PHOENIX _ Knight Transportation Inc. on Wednesday reported third-quarter profit of $25.1 million. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 27 cents per share. Analysts expected $264.8 million, according to Zacks.» Read More
KUALA LUMPUR, June 10- The state investor that controls Malaysian Airlines said the government will disclose plans to restructure the loss-making carrier within six to 12 months, as a slump in business since the loss of Flight MH370 leaves the airline burning through cash reserves now set to be used up by this time next year.
Uber could raise a potential security risk for passengers because they don't play by the same rules as cabs, critics told CNBC.
*China business jet sales to top $65 bln over 20 years. Now the supplier of private aircraft for the Ferrari motor racing team is looking into a new joint venture far from home- manufacturing in China.
MUMBAI, June 10- Online retailers jostling for a chunk of India's $13 billion e-commerce trade are so desperate to avoid snarled roads and inefficient railways that they fly their packages in the passenger cabin of costly commercial flights.
The $17 billion valuation of taxi service Uber was eye-popping, but here's why it's justified, says Michael Yoshikami.
MOSCOW, June 9- Russia will not privatise telecoms company Rostelecom, shipping company Sovkomflot and the Novorossiisk sea port this year, RIA news agency quoted Deputy Finance Minister Tatyana Nesterenko as saying on Monday. "We expect a significant decline in revenues from privatisation, to 170.8 billion roubles.
RUSSIA WILL NOT PRIVATIZE TELECOMS COMPANY ROSTELECOM, SHIPPING COMPANY SOVKOMFLOT, NOVOROSSIISK SEA PORT THIS YEAR- RIA CITES DEPUTY FINANCE MINISTER NESTERENKO.
*Iran Air would need 100 jets immediately sanctions lifted. DOHA, June 7- Iran Air will need at least 100 passenger jets once sanctions against the country are lifted and will find it easier to do business with companies that co-operated during the current window for sanctions relief, the head of the airline said.
General Motors Co has been grappling with a crisis over its 11- year failure to recall cars equipped with faulty ignition switches. It was only in February of this year that GM finally began recalling 2.6 million Chevrolet Cobalts, Saturn Ions and other older models equipped with the faulty switches.
GM announced four more recalls, raising number of recalls to 34.
June 6- The incoming head of United Parcel Service Inc said on Friday the world's largest parcel delivery company will continue investing to build capacity in emerging markets and to expand its services, especially in healthcare, its fastest-growing segment after e-commerce.
Hiring for two new SCE&G reactors underscores the need for replacing retiring nuclear workers in next several years.
June 6- United Parcel Service Inc, the world's largest parcel delivery company, named David Abney chief executive to replace Scott Davis who will retire to become non-executive chairman. Both moves are effective Sept. 1. UPS shares closed at $103.62 on the New York Stock Exchange on Thursday.
June 6- United Parcel Service Inc, the world's largest parcel delivery company, said it had named David Abney chief executive. Scott Davis, who has been CEO and chairman since 2008, will retire and be the company's non-executive chairman. Both moves are effective Sept. 1, UPS said.
HONG KONG, June 6- Shares in China's Qingdao Port International Co Ltd weakened in their Hong Kong trading debut on Friday amid concern that the company could be hurt by a probe into metal financing at the world's seventh busiest port.
HONG KONG, June 6- Shares in China's Qingdao Port International Co Ltd are set open flat in their Hong Kong trading debut on Friday amid concern that the company could be hurt by a probe into metal financing at the world's seventh busiest port.
Talks to renew the labor contract for moving cargo through West Coast ports are now under way ... and a nervous business world is watching.
MILAN/ ROME, June 5- Alitalia is expected to give an initial green light to a tie-up with Etihad Airways at a board meeting on Friday in a last-ditch attempt to save a carrier that many in the industry have regarded as a lost cause.
GM CEO BARRA SAYS HAS SPOKEN WITH SECRETARY OF TRANSPORTATION AND KEY MEMBERS OF CONGRESS ABOOUT REPORT.
June 5- Logistics company UTi Worldwide Inc reported a bigger quarterly loss as revenue fell in its air and ocean freight businesses. The net loss attributable to UTi increased to $43.2 million, or 43 cents per share, in the first quarter ended April 30, from $12.4 million, or 12 cents per share, a year earlier. Excluding items, UTi posted a loss of 9 cents per share.
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