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Business Transportation

  • Feb 21- U.S. railroad operator CSX Corp will cut 1,000 management employees and its chief executive will retire in May, a company spokesman said on Tuesday, as activist investor Mantle Ridge LP pushes to shake up the company's board. Sease said the cuts and the CEO's retirement were long planned, and not linked to Mantle Ridge, which has a 4.9 percent stake in CSX, and...

  • SHAWNEE MISSION, Kan. _ Seaboard Corp. on Tuesday reported fourth-quarter earnings of $103 million. On a per-share basis, the Shawnee Mission, Kansas- based company said it had net income of $87.83. For the year, the company reported profit of $312 million, or $266.50 per share.

  • PROVIDENCE, R.I.— Rhode Island police have arrested a third suspect in the theft of a truckload of diapers worth about $90,000. State Police say Dalzon leased the Providence storefront where detectives found 800 boxes of diapers last week. Police have said Audrey Bettis sold the diapers instead of delivering them to an Amazon distribution facility in Fall...

  • Arianna Huffington

    Huffington is a member of Uber’s board.

  • UPS says its latest flying test shows the potential for using drones to make deliveries in rural areas. United Parcel Service said Tuesday that a drone launched from a specially outfitted truck, made a delivery and returned to the truck during a test this week in Florida. Mark Wallace, the company's senior vice president of engineering, says the test has...

  • Sales at its logistics business, under which the company offers services such as warehousing and distribution, rose 8.6 percent to $1.38 billion in the fourth quarter ended Dec. 31. The company sold its truckload shipping business, acquired as part of its $3 billion Con-way deal, to Canadian trucking company TransForce Inc for $558 million in October.

  • CSX freight lines run through center city Philadelphia

    U.S. railroad operator CSX Corp's chief executive, Michael Ward, will retire after more than 14 years in the role.

  • Broughton: If you look at the strength of the dollar it has historically led to lower rail volume

    Donald Broughton, Managing Director at Avondale Partners, has a “sell” rating on Norfolk Southern stock and tells viewers why.

  • American announced early Tuesday that it began selling the new fares for flights starting March 1 on 10 different routes from its hub airports in Dallas, Miami, Philadelphia and Charlotte, North Carolina. United followed suit later in the day, posting reduced fares on some flights from Minneapolis to seven of its hub cities including New York, Chicago and Los...

  • Feb 21- U.S. railroad operator CSX Corp's chief executive, Michael Ward, will retire after more than 14 years in the role, as activist investor Mantle Ridge LP tries to shake up the company's board. Ward's decision to retire early is a signal that Harrison will fill the top seat at CSX, said John Risch, legislative director of the Sheet Metal, Air, Rail and...

  • "We... always have to be diligent about getting the right return," particularly as costs rise, Richard Peretz, the company's chief financial officer, said at an investor event. His comments came a day after the company tested home delivery by drone in Lithia, Florida, the first step in what it hopes will be more automated- and cheaper- deliveries in rural areas.

  • PARIS, Feb 21- The head of aircraft leasing group AerCap on Tuesday expressed confidence in airline demand despite a slowdown in the aerospace business cycle, but questioned the durability of plans by Airbus and Boeing for some output increases. Speaking after reporting stronger than expected fourth quarter earnings, chief executive Aengus Kelly said he...

  • Parcel delivery business UPS announced it's experimenting with automation and testing drone delivery in Florida, hoping to boost margins.

  • DALLAS— American Airlines has begun selling cheaper "basic economy" fares as it battles discount airlines for the most budget-conscious travelers. American announced Tuesday that it began selling the new fares for flights starting March 1 on 10 different routes from its hub airports in Dallas, Miami, Philadelphia and Charlotte, North Carolina.

  • Feb 21- Package delivery company United Parcel Service Inc tested home delivery by drone in Lithia, Florida, on Monday, the first step in what the company hopes will be a move toward more automated delivery. The Tampa- area test, which UPS said went as expected, came less than a month after UPS said it would push forward investment in automation and technology as the...

  • DRIVERS LOGGED ALL-TIME RECORD HIGH 3.22 TRILLION MILES IN 2016, UP 2.8 PERCENT OVER 2015- U.S.

  • NEW YORK, Feb 21- Package delivery company United Parcel Service Inc is launching Saturday ground operations in the United States on a rolling basis, chief executive David Abney said at an investor event on Tuesday.

  • DUBAI, United Arab Emirates— Dubai's government says an arbitration tribunal has cleared port operator DP World of allegations of wrongdoing over its operation of an East African port. The government of Djibouti brought a legal challenge against Dubai's state-backed DP World in 2014 over its 50- year deal to operate the Doraleh Container Terminal, accusing...

  • Feb 21- U.S. railroad operator CSX Corp said on Tuesday Chairman and Chief Executive Michael Ward would retire, effective May 31, after being in the role for more than 14 years. The company has been a target of activist investor Mantle Ridge LP, which is backing railroad veteran Hunter Harrison to become CSX's chief executive. CSX said on Tuesday President Clarence...

  • PHILADELPHIA— Authorities say shipping has reached record levels at the Philadelphia port. Companies from Chile, Peru, and Panama export fruit to Philadelphia instead of Baltimore or Newark. Philadelphia has also seen a massive increase in containers carrying household appliances and beer.

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