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Ford gives disappointing outlook, says turnaround to take years

Detroit (Reuters) - Ford Motor Co on Tuesday estimated financial results for 2017 and 2018 that fell short of investor expectations, in a downbeat forecast that contrasted with a more positive outlook from rival automaker General Motors Co. Ford Chief Financial Officer Bob Shanks told analysts at an investor conference in Detroit

FedEx to merge specialty logistics, e-commerce into its forwarding arm

FedEx announced yesterday that, starting March 1, 2018, it will begin merging its speciality logistics and e-commerce services into a new structure, under the company’s freight forwarding arm, FedEx Trade Networks, Inc. The reorganization puts the muscle of FedEx’s entire network behind the company’s global e-commerce services portfolio, which the integrator

Ryanair levies £5 charge to put suitcase in overhead locker

Airline says charge will speed up boarding but consumer groups fear insurance problems Ryanair giveth and Michael O’Leary taketh away. A little over four years since the Irish airline allowed passengers to carry a second bag on board, passengers were on Monday getting to grips with new rules that meant they either had

Jeep updates Cherokee compact SUV to compete in hot market

Detroit (AP) - Fiat Chrysler’s Jeep brand is giving the Cherokee compact SUV a major facelift so it can better compete in one of the hottest parts of the U.S. automotive market. The 2019 Cherokee, to be unveiled Tuesday at the Detroit auto show, will get styling tweaks, a new engine,

Hope rises for Ibom Deep Seaport as procurement process begins

Artist impression of the Ibom Seaport project   There are indications that the construction of the Ibom Deep Seaport (IDSP) will soon start following the advertisement of the Request for Qualification (RFQ) from reputable private sector port operators in partnership with the Akwa Ibom State Government and the Federal Government. The RFQ is

U.S. automakers bet on diesel trucks after VW scandal

General Motors Executive Vice President for Global Product Development Mark Reuss talks about the 2019 Chevrolet Silverado pick-up truck at Eastern Market before the start of Press Days of the North American International Auto Show in Detroit, Michigan, U.S., January 13, 2018. REUTERS/Rebecca Cook   DETROIT (Reuters) - U.S. automakers are unveiling