Afternoon Coffee: Uber into Trucking and Junk Bonds, Hurricanes Hit Supply Chains Differently

Paul/Adobe Stock

Uber says its ride-hailing technology is well-suited to the trucking industry, and it is renting trailers to start up a business called Powerloop, The Wall Street Journal reports. “Uber has at least one big customer in brewer Anheuser-Busch InBev SA and has leased hundreds of trailers from an undisclosed company it will rent to carriers for $25 a day,” the Journal reports. Uber also has raised $2 billion in junk bond sales as it prepares to go public, CNBC reports. Its IPO next year could value it at $100 billion, media reports have said.

Hurricane Florence a Month Later

After two hurricanes recently hit the Southeast, the fallout for supply chains was different for each storm, Supply Chain Dive reports. Hurricane Florence made landfall and stayed for days over the Carolinas, flooding roads and causing a lot of damage. Even when some businesses were ready to open, the roads were impassable, the Dive reports. Hurricane Michael, which hit Florida’s Panhandle, came in with fierce winds for a day, but the zone of damage was more focused, it reports. A month ago, Florence turned the supply chain to chaos. “North Carolina Ports in Wilmington and Morehead City closed for 11 days, and delivery issues jumped 50% as Florence hit,” the Dive reports.

Stock Market, Caterpillar Down

And finally, an economic update: The U.S. stock market on Thursday had another rough day in this down month of October — with Caterpillar and Apple seeing declines, CNBC reports. The China stock market’s woes also affected to U.S. selloff, with fears about slow global growth contributing. Caterpillar was down 3.8%, CNBC reports.

Share on Procurious

Discuss this:

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.