Freight rates on the spot market in April plunged to five-year lows, thanks to plummeting demand caused by the COVID-19 pandemic. It's so bad, owner-operators have been protesting all over the country, calling for more broker regulation. But is it really a broker problem? Or classic supply and demand? ...
(Bloomberg) -- Lyft Inc. overcame investors’ worst expectations Wednesday when it pushed closer to profitability and reported moderate growth of the ride-hailing business in a quarter partly marred by the effects of the coronavirus pandemic.The San Francisco-based company reported a loss excluding interest, taxes and other costs of $85.2 million for the first quarter. That was a 61% reduction from a year ago. After the report, the stock rose about 17% in extended trading.The company trumpeted its cash assets of $2.7 billion and a reduced cost structure, saying it won’t need to raise additional funds. “We are confident that we are sufficiently capitalized,” Logan Green, the chief executive officer, said on a conference call to discuss the report.However, the virus significantly slowed Lyft’s growth machine. The company, accustomed to growth rates of more than 50% a quarter, said adjusted sales climbed 23% from last year, to $956 million.Lyft, which only operates...
In an effort to achieve completely automated end-to-end freight transactions, Uber Freight is moving beyond automated pricing and matching to enable transactions that can take place automatically and without intervention. ...
PrePass Safety Alliance recently announced that its PrePass MOTION app will now integrate with Geotab, giving motor carriers an additional option for toll bypass. ...
