The Japanese postal, banking and insurance conglomerate now expects to post a net loss of 40 billion yen (U.S. $362.4 million) for its fiscal year ended March 31, 2016, after taking a 400.3 billion yen writedown on Australian logistics arm Toll Holdings.
Freight broker and third-party provider Echo Global Logistics reported a net loss of $2.9 million in first quarter 2017, compared with a $0.3 million gain in the same 2016 period, even as revenues grew 3 percent year-over-year to $415.8 million.
Total cross-border trade between the United States, Mexico and Canada grew 2.9 percent in February 2017, the fourth straight month of year-over-year increases, according to the Department of Transportation’s Bureau of Transportation Statistics.
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Future safety gains in the freight transportation industry “are being held back by government red tape that stifles innovation and improvement,” according to a new report from the Competitive Enterprise Institute.
The ranking member of the House Transportation and Infrastructure Committee introduced the Investing in America: A Penny for Progress Act, which aims to raise roughly $500 billion in transportation infrastructure funding via 30-year Treasury bonds.
In addition to a 13 percent cut in funding for the U.S. Department of Transportation, a 2018 budget proposal released yesterday by President Trump's administration would completely eliminate the TIGER grant program and privatize air traffic control.