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Panalpina confirms DSV takeover bid for US$4 billion

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

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

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

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