Previously, fuel surcharges were simply taxes levied by carriers and passed on to their customers. Surcharges appropriately reflected the expenses of a carrier's fuel. The surcharge indices were modified up or down based on the direction of diesel and jet fuel prices. Those days have long passed. Carriers now routinely...
CPG firms immediately cease business in Ukraine
Several global CPG businesses have suspended or limited production in Ukraine in order to keep their staff safe. Nestle, Coca-Cola, Philip Morris, and Mondelez are among the major CPG companies that have indicated plans to curtail or cease manufacturing and/or distribution in Ukraine. The same is true for multinational agricultural...
GXO negotiates the terms of a proposed $1.3 billion bid for Clipper Logistics
GXO Logistics stated on Sunday, February 20th, that it has achieved a preliminary deal to buy Clipper Logistics of the United Kingdom for about $1.3 billion in cash and equity. GXO (NYSE: GXO) would pay 75 percent in cash and 25 percent in new stock to buy Clipper's (CLG.L.EB) common...