A Delaware bankruptcy court has cleared the path for the final liquidation of Yellow Corp.'s estate, which will distribute as much as $700 million to creditors, but the order could face an appeal from Yellow’s largest equity holder, MFN Partners.
We discuss the poor third-quarter results for ocean carrier CMA CGM, which saw group net income fall 72.6% year-over-year and revenue drop 11.3%. The carrier attributed this downturn to geopolitics, trade tensions in the U.S., and a corresponding slowdown in maritime activity, though it noted an improvement quarter-over-quarter after trade between the U.S. and China picked back up.
Finally, truck safety advocates are strongly opposing the FMCSA’s proposed pilot program that would allow drivers to pause their 14-hour on-duty period for up to three hours, essentially extending the work window to 17 hours. While the FMCSA claims the allowance would mitigate excessive detention times and improve working conditions, Advocates for Highway and Auto Safety argue the initiative is dangerous and misguided.
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