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Federal prosecutors allege Patrick and Edward James used fake and inflated invoices to persuade lenders to provide billions of dollars in financing to First Brands. Both pleaded not guilty.

Founder Patrick James awaits trial on fraud charges stemming from the multibillion-dollar collapse of his auto parts supply business. He also must deposit $5 million in cash.

The Hong Kong-based conglomerate said in a separate stock exchange filing that it will “vigorously pursue” the case under the rules of the International Chamber of Commerce.

Supply continues to expand at a record pace, with a projected 36% surge in new vessel capacity from 2023 to 2027. On the flip side, demand for container shipping is expected to contract 1.1% in 2026.

Access to parking for the nation’s commercial drivers will increase because of recent legislation Congress and President Donald Trump approved Feb. 3.

The partial U.S. government shutdown ended late in the afternoon of Feb. 3 after President Donald Trump signed into law a funding deal he negotiated with Senate Democrats.

The European Union will pitch the U.S. on a critical minerals partnership to curb China’s influence, looking to shape the Trump administration’s push to strike global agreements this week.

The Republican-led Senate will be next to consider the nominees who, if confirmed, would join Secretary Sean Duffy’s leadership team at the Department of Transportation.

In December, SBA issued a policy note that said up to 5% of a business could be noncitizen owned. But the current policy rescinds that, as well as making lawful permanent residents ineligible, too.

EPA Administrator Lee Zeldin is asking major diesel engine OEMs to provide critical data about diesel exhaust fluid system failures to remedy equipment problems for truckers and farmers.