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- Are insider traders making millions from the Iran war?
The BBC has found significant spikes in activity shortly before the US president made some announcements. [TheTopNews] Read More.18 mins ago - Car recall warning: could yours be at risk of fire?Car recall warning: could yours be at risk of fire? Consumer expert Louise Minchin shares the details. [TheTopNews] Read More.21 mins ago
- This Week in Trucking: Medical Card Extension, CDL Changes, and Industry Scrutin...
Key Trucking Updates: Regulations, Enforcement, and Industry Shifts This week in trucking brought several important updates affecting drivers, carriers, and industry operations. From regulatory extensions to enforcement actions and industry scrutiny, these developments highlight ongoing changes across the sector. As a result, trucking professionals must stay informed to adapt to evolving rules and market conditions. Paper Medical Card Exemption Extended The Federal Motor Carrier Safety Administration (FMCSA) has extended the use of paper medical examiner’s certificates. While the agency continues working toward a fully digital system, drivers can still use paper copies until October 11. This extension provides temporary relief for drivers and carriers. However, it also signals continued delays in transitioning to a digital medical certification system. Therefore, fleets should prepare for eventual digital compliance while using the extended timeline to adjust operations. Non-Domiciled CDL Issuance Resumes in Some States FMCSA also announced that several states can resume issuing non-domiciled commercial driver’s licenses (CDLs). Previously, these licenses were restricted due to concerns over inconsistent issuance practices. States now allowed to reissue these CDLs include: North Dakota and South Dakota Iowa and Texas Delaware and Utah Rhode Island, Minnesota, and New Jersey Meanwhile, enforcement actions continue elsewhere. For example, FMCSA is withholding $73 million in federal highway funding from New York. This decision is tied to the state’s alleged failure to revoke improperly issued non-domiciled CDLs. As a result, compliance remains a top priority for states and regulators. Chameleon Carriers Draw National Attention This week also saw increased scrutiny on “chameleon carriers,” which are trucking companies that frequently change their Department of Transportation (DOT) numbers to avoid enforcement. A recent “60 Minutes” segment brought national attention to this issue. The report focused on networks such as Super Ego, which involve brokers, carriers, and leasing entities. These operations often bypass safety regulations, creating risks across the industry. Therefore, increased visibility may lead to stricter enforcement and regulatory action in the future. Industry and Policy Developments Continue In addition to regulatory updates, the trucking industry saw movement in both business and policy areas. Key developments include: Private equity firm STG acquired Carrier Logistics, a transportation management system provider The company plans to shift toward an AI-focused strategy for operations A proposed federal bill aims to increase minimum carrier insurance from $750,000 to $5 million Although most proposed bills do not become law, this proposal reflects ongoing discussions… [TheTopNews] Read More.27 mins ago - The Peace Rally Gets Derailed
Oil prices are climbing and global stocks are falling as investors worry about the prospects for a speedy end to the war in the Middle East. [TheTopNews] Read More.32 mins ago - Trump admin to begin refunding $166B to businesses in wake of Supreme Court deci...
Businesses can begin filing for tariff refunds on Monday as the federal government starts unwinding billions of dollars in import duties imposed by the Trump administration under emergency powers, opening the door to what could be one of the largest repayments to importers in U.S. history.At 8 p.m. ET on April 20, U.S. Customs and Border Protection (CBP) will launch the first phase of a new claims system that will allow importers to seek repayment of tariffs collected under the International Emergency Economic Powers Act (IEEPA), following a series of court rulings that invalidated the policy.The Supreme Court ruled in February that the law President Donald Trump relied on for his signature policy did not authorize the imposition of tariffs, finding that Congress – not the president – holds authority over such taxes. The decision set the stage for lower courts to order the government to reverse course and return the funds.A judge at the U.S. Court of International Trade subsequently directed CBP to remove the tariffs from affected entries and refund any excess duties collected, along with interest.OIL PRICES PLUNGE AFTER IRAN SAYS STRAIT OF HORMUZ OPEN FOR COMMERCIAL SHIPPINGThe scale of the refunds could be significant for businesses across industries. Court filings show more than 330,000 importers paid duties on over 53 million shipments, totaling roughly $166 billion.ONE YEAR LATER, TRUMP TARIFFS GENERATED BILLIONS AS REFUNDS TAKE SHAPEStarting Monday, companies and their customs brokers can submit refund requests through CBP’s Automated Commercial Environment (ACE) portal using a newly developed tool known as the Consolidated Administration and Processing of Entries, or CAPE.The system allows importers to file declarations listing the entries for which they are seeking refunds. Once a claim is validated, CBP will recalculate the duties without the IEEPA tariffs and reliquidate the entries, triggering repayment.CBP said valid refunds will generally be issued within 60 to 90 days after a claim is accepted, though more complex cases could take longer. The agency is rolling out the process in phases, with the initial stage limited to certain unliquidated entries and those within 80 days of final accounting.Officials have warned the process could be complicated given the scale. In court filings, CBP described the volume of refunds as "unprecedented," noting that existing systems were not designed to handle so many claims and may require significant manual processing.CLICK HERE TO GET FOX BUSINESS ON THE GOThe refunds will be paid directly… [TheTopNews] Read More.55 mins ago - How the Iran war affects your money and billsThe conflict in the Middle East has increased pressure on the cost of petrol, household energy bills and even food. [TheTopNews] Read More.2 hours ago
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