Oil fell almost $1 a barrel Friday, finishing the week at $96.13, its lowest closing price this year, Bloomberg reported.
May 11, 2012Business
Consumer Confidence Climbs to Four-Year High
Consumer confidence rose to a four-year high this month, according to the Thomson Reuters/University of Michigan consumer sentiment index released Friday.
May 11, 2012BusinessLogistics
XPO Logistics Reports 1Q Loss, Buys Brokerage Firm
XPO Logistics reported a first-quarter loss and announced its first acquisition, saying it will buy brokerage firm Continental Freight Services for $3.4 million.
May 11, 2012BusinessLogistics
Intermodal Traffic Rises 3% for Week
U.S. intermodal traffic rose 3% for the week ended Saturday from a year ago, the Association of American Railroads said.
May 11, 2012Business
Producer Price Index Falls for First Time in Four Months
Prices paid to U.S. producers fell in April for the first time in four months, the Labor Department reported Friday.
May 11, 2012BusinessLogistics
Caterpillar Selling Majority Stake in Logistics Unit
Heavy-equipment maker Caterpillar Inc. said it is selling a majority stake in its third-party logistics business to Platinum Equity for $750 million.
May 10, 2012BusinessFuel
Oil Rises to Over $97 a Barrel
Oil rose for the first time in more than a week Thursday, gaining 27 cents to just over $97 a barrel, after falling for six straight trading days, Bloomberg reported.
May 10, 2012Business
FedEx to Buy French Delivery Firm
FedEx Corp. said Thursday it will acquire French express-delivery company Tatex as it pursues European growth through small deals and expansion of existing businesses.
May 10, 2012Business
U.S. Trade Deficit Jumps 14%
The U.S. trade deficit jumped by 14% in March as imports rose, the Commerce Department said Thursday.
May 10, 2012Business
Weekly Jobless Claims Fall by 1,000
Initial jobless claims fell last week to the lowest level in a month, the Labor Department said Thursday.
May 10, 2012