Slim’s America Movil wins telecom battle in top Mexico court

Trucking News
16 Aug by

Slim’s America Movil wins telecom battle in top Mexico court

Mexico's Supreme Court on Wednesday ruled billionaire Carlos Slim's telecommunications company America Movil should not be barred by law from charging competitors certain fees, prompting fears of a rollback of a sweeping antitrust reform. The 2014 telecom industry reform, one of Mexican President Enrique Pena Nieto's signature accomplishments, prohibited America Movil from charging other carriers for calls made to customers on its network, even though those firms are allowed to bill America Movil for using their networks. It was one of several changes, along with an opening of the state-run energy industry, that have increased competition in Mexico's strategic industries.


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Trucking News
Trucking News
16 Aug by

Union Pacific to layoff 750 U.S. employees amid broader cost-cutting

Union Pacific Corp said on Wednesday it will cut roughly 500 management jobs and 250 railroad workers by mid-September as the No. 1 U.S. railroad continues broader cost-cutting. "Union Pacific for some time has leveraged employee attrition and technology to reduce general and administrative costs," Chief Executive Officer Lance Fritz said in a statement. The layoffs come as Union Pacific, like other major U.S. railroads, saw a resurgence in coal volumes this year but has been hit over the past two years by precipitous declines as utilities switched to burning cheaper natural gas and the strong U.S. dollar hurt coal exports.


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Trucking News
Trucking News
16 Aug by

Novo Nordisk’s diabetes drug succeeds in key trial

Novo Nordisk A/S said on Wednesday its diabetes drug met the main goal of reducing glucose levels in patients in a key late-stage trial, setting the stage for it to become the new standard therapy for type 2 diabetes. The 40-week trial tested two dosages of Novo's once-weekly drug, semaglutide, in addition to initial standard-of-care therapy metformin, against Eli Lilly and Co's dulaglutide plus metformin. Novo Nordisk said its drug was statistically significant in reducing glucose levels and lowering body weight in about 1,200 patients suffering from type 2 diabetes, when compared with dulaglutide.


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Trucking News
16 Aug by

Union Pacific to layoff 750 U.S. employees amid broader cost-cutting

Union Pacific to layoff 750 U.S. employees amid broader cost-cutting

"Union Pacific for some time has leveraged employee attrition and technology to reduce general and administrative costs," Chief Executive Officer Lance Fritz said in a statement. The layoffs come as Union Pacific, like other major U.S. railroads, saw a resurgence in coal volumes this year but has been hit over the past two years by precipitous declines as utilities switched to burning cheaper natural gas and the strong U.S. dollar hurt coal exports.


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Trucking News
16 Aug by

Australia’s Wesfarmers posts record annual profit on coal, home improvement

Australian retail-to-mining conglomerate Wesfarmers Ltd on Thursday posted a record annual profit but just missed analyst forecasts, boosted by the coal and home improvement units although supermarket sales were flat. The owner of the country's No. 2 grocery chain and discount department stores Target and Kmart said net profit for the year to end-June was A$2.87 billion ($2.27 billion), up from A$407 million a year ago, marginally missing the A$2.90 billion average forecast of 9 analysts polled by Thomson Reuters I/B/E/S.


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