This morning, the Panalpina board of directors confirmed that it had received an unsolicited, non-binding proposal from Danish logistics rival DSV to purchase the Swiss forwarding giant. The offer was for CHF170 per share, from a combination of cash and DSV shares, adding up to about US$4 billion. The board stated
Transportation
UPS gears up for heavy-duty eBike delivery test in Seattle
United Parcel Service Inc on Thursday will unveil an urban delivery test in Seattle that uses electric bicycles geared to carry packages in large preloaded boxes to save time and cut pollution, the company said. The new project from UPS, which started in Seattle in 1907 as a bicycle messenger company,
Zero Motorcycles’ 2019 line-up boasts more power and longer range
Zero Motorcycles has made a name for itself by producing electric bikes that appeal to motorcycle enthusiasts as well as alternative fuel fans. Its bikes have been a hit with thrill seekers and commuters alike, and its newly-announced 2019 line-up makes it easy to see why the company is consistently performing
World’s longest sea bridge opens, connecting Hong Kong, Macau
Yesterday, Chinese President Xi Jinping inaugurated the world’s longest sea bridge to connect Hong Kong, Macau and Zhuhai, stretching across the Pearl River Delta. The opening culminated the US$15.3 billion project has been underway since December 2009. The 34-mile span shortens the travel time between the two regions from 3.5 hours to
California port drivers, warehouse workers strike
Action targets XPO Logistics and NFI Industries operations over a wide area of Southern California. Drayage truck drivers, warehouse workers and their supporters are participating in protests around the Ports of Los Angeles and Long Beach and other locations in Southern California Monday aimed at ending what they say is exploitation
Airlines’ Fortunes Soar in Nigeria
A new wave of confidence has animated the air travel sector with erstwhile struggling airlines now acquiring state-of-the-art airplanes to replace leased equipment. With lending rate as low as 10 per cent on liquidity inflow to the sector, local airlines are now buying aircraft like Embraer 145, Bombardier CRJ900 and even
Revealed: England’s worst cities for traffic jams (outside London)
An extra £43bn of funding to 2040 would be needed to solve traffic problems, the study revealed London - Drivers nationwide are facing congested roads, with new research revealing the 10 worst English cities for traffic outside London. Away from London, you might expect roads to be a little quieter - but
How Electric Scooters Are Reshaping Cities
The scene in Santa Monica, where scooter-mania began. One of the biggest stories in technology this year is the exploding popularity of Bird, Lime, Skip, Spin and Scoot. They’re all electric scooter-rental services, and their vehicles are suddenly buzzing along city streets and sidewalks around the world. These startups allow riders to
U.S. rail volumes sustain steady climb
US intermodal rail lines Combined carload and intermodal shipments have grown 4 percent year-over-year through August. Total combined U.S. freight railroad traffic in August grew another 4.5 percent to 2.83 million carloads and intermodal units compared with the same month a year ago, according to the latest data from the Association of
Electric Mercedes opens German assault on Tesla
FILE PHOTO: A Tesla Model S electric car is seen at its dealership in Seoul, South Korea July 6, 2017. REUTERS/Kim Hong-Ji/File Photo Mercedes-Benz is set to unveil its much-anticipated electric SUV on Tuesday, marking the start of a German onslaught against Tesla’s dominance of the fast-growing market for premium battery cars. Daimler-owned Mercedes,