UAE's AD Ports Group scoops up Noatum Logistics for $680m
It’s been a long and winding road for Noatum Logistics, formerly known as MIQ and, ...
Shares of YRC Worldwide Inc. YRCW, -27.17% sank 4.6% in midday trading Monday, after a congressional panel said the trucking company didn’t meet the test to be designated as essential to national security, The Wall Street Journal reported.
The stock has rocketed 74.6% on July 1 after YRC said it expects to receive $700 million loan from the U.S. Treasury under the Coronavirus Aid, Relief and Economic Security (CARES) Act, as the Treasury determined the company played an essential role in the nation’s supply chain. Congress had questioned that “essential” determination, which allowed the company to receive the government loan, leading to Monday’s ruling. It was unclear what the panel finding would mean for the $700 million loan.
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