Oil rose by the most in six weeks Wednesday following a Department of Energy report that showed declines in crude stockpiles and a modest uptick in diesel demand, Bloomberg reported.
July 15, 2009Business
Fed Minutes Show Concern on Economy, Tight Credit
Federal Reserve officials judged the economy to be at risk from further shocks when they met last month and kept a key interest rate at an all-time low, according to minutes of the meeting released Wednesday.
July 15, 2009BusinessLogisticsGovernment
Carter Logistics Opens Cross-Dock in Mich.
Third-party logistics firm Carter Logistics said it has opened a new cross-dock facility in Romulus, Mich.
July 15, 2009Business
YRC, Teamsters Reach Tentative Deal on Additional Cost Cuts
YRC Worldwide and the Teamsters union have reached a tentative agreement that would reduce wages another 5% and set other cuts that would save the company about $870 million, while giving the union an option for more company stock.
July 15, 2009Business
J.B. Hunt’s 2Q Income Falls by Half
J.B. Hunt Transport Services’ second-quarter net income fell 52.5% to $24.1 million, or 19 cents per share, from $50.6 million, or 39 cents, a year earlier.
July 15, 2009Business
Heartland Reports Improved 2Q Profit
Truckload carrier Heartland Express said its second-profit rose 2.2% from a year ago.
July 15, 2009Business
Industrial Production Decline Slows in June
Industrial production fell in June at the slowest pace in eight months, the Federal Reserve said Wednesday.
July 15, 2009BusinessGovernment
Consumer Price Index Increases 0.7%
The consumer price index gained 0.7% in June, the biggest jump since July 2008, the Labor Department said Wednesday.
July 15, 2009BusinessGovernment
New York Manufacturing Index Improves in July
Manufacturing activity in the New York region contracted at the slowest pace in more than a year, the Federal Reserve Bank of New York said Wednesday.
July 15, 2009BusinessLogistics
Yucaipa Cos. Acquires 49% Stake in Eimskip Cold Storage Business
The Yucaipa Cos., a private equity firm, bought a 49% stake in Versacold International Corp., an operator of temperature-controlled warehouses, from Icelandic shipping and logistics company Hf. Eimskipafelag Islands, or Eimskip.
July 15, 2009