The private-equity parent company of Ceva Group has received a commitment of $2.95 billion in debt financing to fund the buyout of air freight forwarder EGL Inc., Bloomberg reported Tuesday.
June 6, 2007GovernmentBusinessSafety
New Passport Rules Temporarily Waived
The Bush administration Friday temporarily lifted a requirement that U.S. passports be used for citizens flying to and from Canada, Mexico, the Caribbean and Bermuda, the Associated Press reported.
June 8, 2007Government
Trade Deficit Narrows in April
The U.S. trade deficit narrowed by 6.2% in April as exports surged to a record, the Commerce Department said Friday.
June 8, 2007BusinessSafetyGovernmentAutonomous
ATA’s Graves to Chair Highway Users Group
The American Highway Users Alliance has named American Trucking Associations President Bill Graves chairman of the group’s board of directors, effective immediately.
June 7, 2007GovernmentBusinessTechnologyLogistics
Hub Group Buys Intermodal Firm
Third-party logistics company and freight broker Hub Group said it will acquire the assets of Interdom Partners, an intermodal marketing company, for $26 million.
June 7, 2007BusinessGovernment
Wholesale Inventories Rise 0.3%
Wholesale inventories rose 0.3% in April, the Commerce Department said Thursday.
June 7, 2007BusinessFuelGovernment
UTi Worldwide’s 1Q Income Dips
Air and ocean freight forwarder UTi Worldwide’s fiscal first -quarter net income fell 6% to $18.1 million or 18 cents a share, from $19.3 million or 20 cents a year ago.
June 7, 2007FuelGovernmentBusiness
Fuel Inventories Rise for Week
Inventories of crude oil, gasoline and distillate fuel all rose last week, and oil prices receded slightly in early trading Wednesday, Bloomberg reported.
June 6, 2007