Volume categories such as grain and intermodal helped U.S. rail traffic near pre-pandemic levels in April, according to the Association of American Railroads (AAR). For the month, rail volumes totaled 2.13 million carloads and intermodal units, a 29.1% increase from…
Executives from Lyft (NYSE: LYFT) and Uber (NYSE: UBER) were under the microscope this week during their Q1 analyst earnings calls, and while they struck diplomatic tones around the regulatory environment surrounding gig workers, other stakeholders did not hold back.…
CognitOps, a software company that specializes in AI-based warehouse management applications, announced on Thursday it has raised $11 million in a Series A round led by FirstMark Capital. Past investors participated in the round, including Chicago Ventures, Schematic Ventures, Haystack…
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While quarter-over-quarter revenue dropped, Wayfair (NYSE: W) nonetheless exceeded analysts’ expectations when it announced Q1 2021 earnings Thursday morning. The e-commerce firm reported revenue of $3.5 billion, up 49.2% year-over-year from Q1 2020’s $2.4 billion. Quarter-over-quarter, though, Wayfair reported a…
A coalition of trucking companies filed a petition on Monday to force an Indianapolis-based freight brokerage into Chapter 7 bankruptcy proceedings for unpaid transportation services. The involuntary Chapter 7 bankruptcy petition, filed in U.S. Bankruptcy Court for the Southern District…
While the South has been soaked with heavy rain and flash flooding this week, portions of the northern Plains and Midwest have remained bone dry. Related: Grass fire smoke shuts down North Dakota highway Wildfire risk Mother Nature won’t be…
Scale AI, a startup providing the infrastructure for AI applications headquartered in San Francisco, recently announced it had raised $325 million in a Series E funding round co-led by Dragoneer, Greenoaks Capital and Tiger Global. The company has raised more…
The Daily Dash is a quick look at what’s happening in the freight ecosystem. In today’s edition, we highlight the latest news regarding the Paycheck Protection Program, interesting comments regarding the U.S.-Mexico border and more. The High Five 1. The…
On Monday, Amit Mehrotra, an analyst at Deutsche Bank, stated that due to customer demand, low inventory levels, housing demand and federal stimulus, the current market constraints on trucking and international container capacity are likely to continue into 2023. Shippers…
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