Economy And Business News

The divide sharpens between those who see looming recession in freight numbers and those who see sustained, albeit slower, US growth. IHS Markit points to a “modest upturn” in the US economy, with consumer demand keeping freight in motion.

Economy News

Payroll Protection Program loans could keep struggling small trucking companies in business, and prevent a truck capacity crunch shippers fear — if enough carriers apply for them. The wind is at the intermodal sector’s back in the North American markets, but there is one headwind that, and as of now, the scope and ultimate impact is unknown.

Seizing growing natural gas market, Sasol creates Louisiana’s largest manufacturing project with gas-to-liquid and ethane cracker complex. WASHINGTON – The U. S. Small Business Administration granted 24 awards up to $125, 000 per recipient in FY 2019 under its Federal and State Technology Partnership Program. Louisiana Economic Development is expanding its statewide network of Small and Emerging Business Development Roundtables provided through the Small and Emerging Business Development, or SEBD, Program. Sessions began in July and August for the innovative peer-to-peer learning program that brings together 10 to 15 business leaders of small and emerging businesses for a yearlong experience of collaborative learning and problem solving. Shippers are being urged to plan carefully for 2020, as signs begin to indicate the US truck market may swing again next year.

Visit the Newsroom for the complete archive of news releases published by the Census Bureau. French drugmaker Valneva hopes its COVID-19 vaccine can start to be used in Britain between July and September, the company’s chief executive was quoted as saying. Valneva has agreed to provide Britain with 60 million doses of its vaccine, compared with 100 million doses of the shot from AstraZeneca and Oxford University. “We are days away from starting the commercial manufacturing, ” Thomas Lingelbach told The Mail on Sunday newspaper. Some 10 million children in war-ravaged Afghanistan are at risk of not having enough food to eat in 2021, a humanitarian organization said Tuesday and called for $1. 3 billion in new funds for aid. Just over 18 million Afghans, including 9. 7 million children, are badly in need of lifesaving support, including food, Save the Children said in an assertion. Chris Nyamandi, the organization’s Afghanistan country director, said Afghans are suffering under a combination of violent conflict, poverty and the virus pandemic.

A ‘freight volume headwind’ blew hard against YRC Worldwide in November, driving down tonnage at YRC Freight 10. 2 percent year over year. Truck volumes have flattened, not collapsed, a trucking analyst tells SMC3’s Jumpstart 2020 Conference. Truck capacity hit its peak in Q4 2019, and is expected to contract this year.

Maybe you’d been saving for a trip abroad, but the pandemic kept you at home. Or you wanted to save up for a down payment on a house, then the recession left you out of a job. Unions at French drug maker Sanofi held an one-day strike Tuesday at the lab where it is developing a COVID-19 vaccine and some other sites, to protest job cuts the company plans despite a boost in investment amid the pandemic. Germany borrowed 130. 5 billion euros ($157. 5 billion) last year as it loosened budget rules to help finance pandemic-related rescue and stimulus packages – a considerably smaller sum than was originally planned. Thai Prime Minister Prayuth Chan-ocha warned Tuesday that his government will prosecute anyone who shares false information about coronavirus vaccines in social or mass media. Treasury Secretary nominee Janet Yellen is calling on Congress to do more to fight a deep pandemic-induced recession, saying the threats of a longer and even worse downturn are too great to cut back on support now. Select a country below for more information about how Louisiana can support your business.

In a lackluster market, ArcBest’s ABF Freight finds it necessary to judiciously mix truckload spot and traditional LTL freight, asset-based, and non-asset services. The third-largest US LTL operator commits to ongoing reorganization, and sees glimmers of recovery in US manufacturing activity and freight demand in early 2020. Trucking companies large and small are focused on getting through the next month or two, after which they hope freight volumes will begin to recover. The recession caused by the COVID-19 pandemic has erased years of trucking employment gains, bringing payroll headcounts below 2006 levels, US data shows. This month’s seasonal burst of truck freight shipping is expected to fade after Independence Day, putting more pressure on small trucking operators struggling to stay on the road.