Afternoon Coffee: Veraction Merges with Trax Technologies, Amazon Business Expands to Italy and Spain

Transportation spend management provider Veraction announced Monday it would merge with Trax Technologies, a global freight audit and payments provider, according to a press release. The combination will offer customers a single global technology platform across all shipping modes and a suite of transportation spend management analytics.

"Many of the world's largest shippers have already turned to Trax and Veraction to better control their transportation costs and save money," said Chris Connell, CEO of Veraction. "This combination brings together the two clear leaders in this industry with rich legacies, innovative solutions and deeply talented teams with an intense customer focus.  Our combined company will set a new standard for transportation spend management solutions and freight audit."

Amazon Business Expands

Following its entry into the U.K. last year, Amazon Business announced Wednesday it has expanded its offering to Italy and Spain, the Financial Times reports. This brings Amazon’s B2B service to all of the E.U. markets in which the company also has a consumer offering. In addition to these countries and the U.S., Amazon Business is also available in India and Japan.

Boeing Conversions 

Amid a global supply shortage of widebody freighters, Boeing is considering a new program to convert its 777 to fill the need, according to The Loadstar. Although conversion is typically expensive, carriers remain reluctant to invest in new production aircraft.

Oil Exports

And finally, an energy update: The U.S. is threatening sanctions on countries that refuse to stop trading oil with Iran by Nov. 4, the Wall Street Journal reports. Oil prices have spiked on the news, with West Texas Intermediate crude for August delivery ending 3.6% higher at $70.53 a barrel on the New York Mercantile Exchange.

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