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UPS Inc. and the Teamsters union agreed Sept. 30 on a new five-year tentative contract that, among its provisions, would allow the parcel carrier to pay $6.1 billion to leave the union’s Central States Health & Welfare and Pension Funds.

The sluggish U.S. economy has pulled down truck trailer sales this year and there are no signs of an imminent rebound, according to industry data on registrations and production.

American Trucking Associations members will focus on the business side of the industry at this year’s Management Conference & Exhibition in Orlando, Fla., ATA President Bill Graves said.

Initial jobless claims rose by 16,000 last week, the Labor Department said Thursday.

Heavy-duty component maker ArvinMeritor said fiscal fourth-quarter earnings may be less than previously forecast by as much as 40 cents a share because of a sluggish economy and charges related to suppliers, Bloomberg reported.

Truckload carrier Knight Transportation said its president, Tim Kohl, is leaving the company and his position is being eliminated, Bloomberg reported.

Crude oil futures fell slightly following a Department of Energy report that showed an increase in inventories last week, Bloomberg reported Wednesday.

Crude oil futures fell slightly following a Department of Energy report that showed an increase in inventories last week, Bloomberg reported Wednesday.

The economy’s service sector growth slowed slightly in September from the previous month, the Institute for Supply Management said Wednesday.