Truck components maker Meritor Inc. reaffirmed its earnings guidance for fiscal year 2012, and said its next quarter would improve incrementally from its most recent.
March 21, 2012BusinessLogistics
XPO Logistics Nets $137 Million from Stock Offering
XPO Logistics announced the closing of its public stock offering late Tuesday and said it received about $137 million in proceeds.
March 21, 2012BusinessSafetyGovernment
P.A.M. Declares Special Dividend
P.A.M. Transportation Services said its board of directors has approved a special dividend of $1 per share.
March 21, 2012BusinessFuel
Oil Rises Following Biggest Drop in Three Months
Oil rose in early trading Wednesday to just over $106 a barrel following the biggest drop in three months on Tuesday, Bloomberg reported.
March 21, 2012Business
Mica Seeks Temporary Extension for Transportation Funding
WASHINGTON — House Transportation Chairman John Mica (R-Fla.) said Tuesday that a temporary extension will be unveiled as early as Wednesday and voted on next week in order to keep highway projects and public transit from shutting down at the end of March.
March 20, 2012Business
U.S. Needs $101 Billion Annually to Maintain Highways, DOT Report Says
The United States would need to spend $101 billion per year, plus inflation, to maintain its existing highway system over the next 20 years, the Department of Transportation estimated.
March 20, 2012BusinessFuel
Diesel Rises 1.9¢ to $4.142; Price Is Highest Since August 2008
Diesel rose 1.9 cents to $4.142 a gallon, its highest price since the record-setting summer of 2008, while gasoline also rose, the Department of Energy reported.
March 20, 2012Business
Housing Starts Fall 1.1% in February
Housing starts declined 1.1% in February from a three-year high a month earlier, the Commerce Department said Tuesday.
March 20, 2012BusinessTechnology
WebTech Wireless' Fourth-Quarter Loss Narrows
WebTech Wireless, a supplier of GPS location-based and fleet telematics services, reported a fourth-quarter loss of C$934,000, compared with a loss of C$8.2 million a year earlier.
March 20, 2012Business
Early Spring Prompts Secondary Road Bans on Heavy Trucks
Heavy trucks are being temporarily banned from thousands of miles of secondary roads across northern New England with the early arrival of spring, the Associated Press reported Monday.
March 20, 2012