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- Truckload Rates Keep Rising as Tight Capacity Fuels Freight Market Recovery
The freight market recovery that began earlier this year appears to be gaining momentum, but analysts say the improvement is being driven more by reduced capacity than a major rebound in freight demand. After nearly three years of freight recession, recent May and June data show truckload rates continuing to climb as fewer trucks and drivers remain available in the market. According to TruckingInfo, spot and contract rates increased during May and June, even though freight volumes were not surging. DAT Freight & Analytics reported that truckload volumes fell month over month across van, refrigerated, and flatbed freight in May. Despite that decline, spot rates increased across all three segments. Van spot rates rose 22 cents per mile, refrigerated rates increased 24 cents per mile, and flatbed rates gained 19 cents per mile. Industry analysts say the stronger pricing environment reflects a market where capacity has contracted enough to better match current freight demand. DAT noted that May’s spot market appeared healthier than volume data alone suggested because carriers were being compensated for tighter truck availability. Contributing factors included the CVSA International Roadcheck inspection blitz, Memorial Day disruptions, immigration enforcement activity, and some carriers shifting equipment toward contract freight where fuel surcharge programs offer more predictable cost recovery. ACT Research reported a similar trend continuing into June. The firm said truckload spot rates, excluding fuel, were on pace to rise more than 40% year over year. ACT attributed the rate acceleration primarily to tighter supply, pointing to lower equipment investment during the downturn, driver shortages, stricter regulatory enforcement, immigration policies, crackdowns on fraudulent electronic logging devices, and the closure of some driver training schools. Driver availability remains one of the biggest factors shaping the current recovery. ACT’s Driver Availability Index stayed deep in shortage territory in May at 32.6, far below the neutral level of 50. While slightly improved from April, the reading suggests the driver supply remains tight and may stay constrained for an extended period. Although capacity constraints are the main force behind rising rates, demand indicators are also showing modest improvement. FTR reported that first-quarter trucking revenues rose 4.3% year over year, with general freight revenues up 6.9% and long-distance general freight revenues increasing 6.5%. These figures suggest freight demand is recovering from recessionary lows, though not strongly enough to fully explain the sharp rise in rates. Recent Truckstop.com and FTR data also show the market… [TheTopNews] Read More.26 mins ago - Stop pretending EU’s new border system is working, says airports chief
The head of Europe's airports lobby says concerns over EES are keeping him awake at night and he doesn't know how airports will cope over the summer. [TheTopNews] Read More.1 hour ago - Bath & Body Works expands beyond malls with Ulta Beauty partnership, revives...
In a major shift to capture changing consumer foot traffic, Bath & Body Works is expanding its retail footprint well beyond its own storefronts.The legacy specialty retailer announced Tuesday a strategic partnership with Ulta Beauty to bring its products to the beauty retailer's nationwide network. The rollout, which will reach more than 600 stores on July 12, represents the company's "Consumer First Formula" strategy to transition from a specialty retailer into a broader global brand by leveraging third-party marketplace partners."What this strategic partnership reflects is an evolution in how we think about reach, meeting consumers wherever they choose to shop," Bath & Body Works Chief Commercial Officer Maly Bernstein told Fox News Digital."Ulta Beauty allows us to show up in a new, highly relevant environment where consumers are already exploring beauty and fragrance," she added. "It’s a complementary approach, giving us another touchpoint to introduce the brand to new audiences while continuing to invest in our stores and digital channels."ALDI LAUNCHES FREE BLIND BOX GROCERY BUNDLES AS SHOPPERS GRAPPLE WITH HIGHER FOOD COSTSThe expansion into Ulta stores means consumers no longer need to make a dedicated trip to traditional shopping malls to purchase self-care staples, including fragrances, lotions, hand soap, candles and more.The deal also includes the exclusive return of "Juniper Breeze," a popular legacy scent from the 1990s and 2000s, which Bath & Body Works says is intended to appeal to nostalgic consumers.According to a company press release, Bath & Body Works said it saw "encouraging early results" from selective marketplace expansion, "reinforcing demand for the brand in new shopping environments.""What we’ve seen through early marketplace expansion, including our launch on Amazon earlier this year, is that consumers shop differently depending on the channel, and that behavior is incremental rather than overlapping," Bernstein explained. "We are seeing Amazon bring in consistent growth and a younger, more affluent consumer, making it a strong customer acquisition channel that is expanding our reach.""The 600-plus doors were jointly selected with Ulta, prioritizing their highest-performing fleet. This is a highly curated, data-led entry designed to maximize productivity at launch and position us for future scale," she continued.GET FOX BUSINESS ON THE GO BY CLICKING HEREColumbus, Ohio-based Bath & Body Works currently operates more than 1,900 stores in the United States and Canada and more than 500 international locations, according to the company. Ulta Beauty, founded in 1990, operates more than 1,500 domestic stores and… [TheTopNews] Read More.1 hour ago - US shoulders disproportionate cost of new medications, report findsNew research by the Office of Health Policy shows the U.S. shoulders a disproportionate cost when it comes to paying for prescription medication.The report, obtained by FOX Business, shows Americans account for nearly 80% of the innovative revenue for drugs launched between 2020 and 2025. The report also shows that no other country comes close to the United States' contribution to shouldering the cost of research and development. The next-closest country paying the cost for R&D in that timeframe is Japan, which accounts for about 5.5% of innovative revenues for new medications coming online and roughly 5.8% of innovative revenues for all medications.The U.S. trade representative’s office opened a new Section 301 investigation into Germany’s plan to reduce spending on pharmaceutical products on June 18. Germany accounts for nearly 3.4% of revenue for innovative medications from 2020 to 2025. The result of the investigation could allow President Donald Trump to make good on threats to add 100% tariffs on imports of pharmaceutical medications from Germany or tariffs on other imported goods from the country.MERCK, SANOFI ARE LATEST COMPANIES TO ADD MEDICATIONS TO TRUMPRX"I am particularly concerned with news that Germany is fast-tracking legislation that would further reduce its spending on innovative pharmaceuticals," U.S. Trade Representative Jamieson Greer said in a statement. "This is a serious step backwards at a time when our trading partners need to step up and start paying their fair share to fund innovative pharmaceutical research and development."BRISTOL MYERS SQUIBB ADDING 3 MEDICATIONS ON TRUMPRXThe USTR is taking public comment on the investigation through Aug. 10. A public hearing related to the investigation will be held on Sept. 22.Johnson & Johnson CEO Joaquin Duato told FOX Business Network's "Mornings with Maria" this month that "We agree with the government that we have to make other countries pay their fair share, especially Europe. And at the same time, we have to work in the middleman. The middleman captures about 50% of the value of the medicine, and we want that value to go directly to the patient to reduce their out-of-pocket costs. So in those areas, the government is always going to find us, Johnson & Johnson, working with them."Trump said in a Truth Social post earlier this month that, "Most Favored Nations would not be possible without my use of TARIFFS, which are getting other Countries to ‘pay up’ instead of relying on American Patients getting ripped… [TheTopNews] Read More.2 hours ago
- Iranian Oil Is Moving Again, but Getting Through the Strait Is Complicated
With the central route of the Strait of Hormuz laden with mines, ships are taking the northern route in Iranian waters or the southern path in Omani waters. Both have risks. [TheTopNews] Read More.2 hours ago - The Tech Sell-off Goes GlobalInvestors are bracing for rough trading after stocks in Asia and Europe were clobbered on Tuesday. A.I. companies like SpaceX are getting hit hard. [TheTopNews] Read More.2 hours ago
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