Oil prices fell more than $1 a barrel Wednesday following an Energy Department report that showed inventories improved last week, and both the House and Senate voted to suspend crude shipments to the nation’s Strategic Petroleum Reserve, Bloomberg reported.
May 14, 2008Business
TransForce Completes Conversion, Name Change
TransForce Income Fund said late Wednesday it has completed its corporate structure conversion to TransForce Inc. and that it will begin trading under a new ticker symbol on Tuesday.
May 14, 2008Business
FedEx Names Brian Philips to Head Kinko’s Unit
FedEx Corp. Wednesday named Brian Philips chief executive officer of its FedEx Kinko’s office supply division.
May 14, 2008BusinessGovernment
Oregon Police Ride in Trucks to Nab Unsafe Drivers
Oregon state and local police began cracking down this week on unsafe automobile drivers who drive near trucks, with police riding in big rigs to looking for drivers who speed, tailgate or don’t leave trucks enough room to maneuver, Portland, Ore., television station KGW reported on its Web site.
May 14, 2008BusinessLogistics
US1 Reports Higher First-Quarter Profit
Logistics firm US1 Industries said its first-quarter net income improved to $690,000, or 5 cents a share, from $370,000, or 3 cents, a year ago.
May 14, 2008GovernmentBusinessSafety
Deutsche Post’s 1Q Profit Drops
Deutsche Post said Wednesday its first-quarter profit fell 18% on a writedown of a German unit and slowing U.S. economic growth that hurt its U.S. DHL division, Bloomberg reported.
May 14, 2008BusinessGovernment
CPI Rises 0.2% in April
The consumer price index rose 0.2% in April, the Labor Department said Wednesday.
May 14, 2008BusinessSafetyEquipmentGovernment
ArvinMeritor Sets Commodity Surcharge
Auto and truck component maker ArvinMeritor Inc. said late Tuesday it will institute a monthly surcharge for components due to rising materials prices.
May 14, 2008BusinessLogistics
Contrans’ First-Quarter Income Declines
Canadian firm Contrans Income Fund said Tuesday its first-quarter income fell to C$5 million, or 17 cents per unit, from C$8.1 million, or 28 cents, a year ago.
May 13, 2008BusinessEquipment
Cummins Sees Continued Strong Growth in 2008
Diesel engine maker Cummins Inc. is on pace for a fifth consecutive year of record sales and profits in 2008 and is poised for “significant further growth over the next several years,†Chairman and Chief Executive Officer Tim Solso told shareholders at the company’s annual meeting Tuesday.
May 13, 2008