Oil futures moved briefly past $70 a barrel on Thursday for the first time since September before receding, after an Energy Department report showed that gasoline and distillate fuel inventories declined last week, Bloomberg reported.
June 28, 2007Fuel, Business
Oil Tops $70 a Barrel
Business
GM to Sell Allison Transmission Unit
General Motors Corp. said Thursday it will sell its Allison Transmission commercial and military business to two private firms for $5.6 billion.
June 28, 2007Business
Fed Again Holds Interest Rate at 5.25%
For the eight straight time, the Federal Reserve on Thursday voted to keep the benchmark U.S. interest rate at 5.25%.
June 28, 2007Business, Fuel, Government, Logistics, Safety
DHL Buys Stake in Polar Air
Package delivery firm DHL said Thursday it acquired a 49% stake Polar Air Cargo Express, a unit of Atlas Air Worldwide Holdings, to expand its business in the Asia-Pacific region.
June 28, 2007Government, Business, Safety
FedEx Expands China Service
FedEx Express said Thursday it has made its next-business-day service available to customers throughout China.
June 28, 2007Business, Safety, Government
May Truck Tonnage Drops 3.6%
American Trucking Associations’ advanced for-hire truck tonnage index for May fell to a six-month low and was down 3.6% from a year ago, ATA said Wednesday.
June 28, 2007Business
Jobless Claims Fall by 13,000 for Week
Initial jobless claims fell by 13,000 last week to 313,000, the Labor Department said Thursday.
June 28, 2007Business
Brazilian Firms to Supply Engine Blocks for International
International Truck and Engine Corp. said Wednesday that its Brazilian subsidiary and supplier will provide compacted-graphite iron cylinder blocks for its new heavy-duty diesel engines.
June 27, 2007Business, Government, Logistics
YRC Changes Logistics Unit’s Name; Will Buy Chinese Firm
YRC Worldwide said that it has changed the name of its logistics unit Meridian IQ to YRC Logistics, and that it has entered into a preliminary agreement to buy a big Chinese logistics and trucking company.
June 27, 2007Government, Business, Safety, Fuel
L.A. Truckers Run Convoy to Back Ports’ Emissions Plan
A convoy of 100 diesel trucks motored slowly along the Harbor Freeway from South Los Angeles to the Port of Long Beach Wednesday as part of a push for cleaner air and better working conditions for drivers, television station KTLA reported on its Web site.
June 27, 2007