Oil prices fell more than $5 Tuesday to close near $136 a barrel, as the U.S. dollar continued to strengthen and fears of a supply shortage faded, the Associated Press reported.
July 8, 2008Business
Paccar Plans Stock Buyback, Will Boost DAF Production 5%
Truck maker Paccar Inc. said it will buy back an additional $300 million in stock and begin a 5% production increase at its Dutch unit in September, Bloomberg reported.
July 9, 2008Business, Government
Oil Drops $5 to $136 a Barrel; Declines $9 in Two Trading Days
Business, Equipment
Cummins Boosting Dividend by 40%
Diesel engine maker Cummins Inc. said Tuesday it will boost its quarterly cash dividend by 40%, to 17.5 cents per share, from 12.5 cents per share.
July 8, 2008Fuel, Business, Logistics, Government
Diesel Jumps 8.2¢ to Record $4.727 a Gallon
The national average price of retail diesel fuel jumped 8.2 cents to a record $4.727 a gallon, breaking the previous record of $4.723 set six weeks ago, the Department of Energy said Monday.
July 8, 2008Business, Safety, Government
Covenant Sets Refinancing Plan With Daimler Truck Financial
Covenant Transportation Group said it completed the first step in refinancing its long-term debt, including a secured revenue equipment financing agreement with Daimler Truck Financial for about $200 million.
July 8, 2008Business, Fuel
G-8 Leaders Endorse Cutting Greenhouse Gases in Half by 2050
Leaders of the Group of Eight nations endorsed cutting global emissions of greenhouse gases in half by 2050, but stopped short of more short-term targets, the Associated Press reported Tuesday.
July 8, 2008Business, Government, Logistics
NFI, Raven Transport Set Warehousing Agreement
Trucking and third-party logistics firm NFI Industries said Monday it has formed a joint-venture warehousing agreement with Raven Transport.
July 7, 2008Business
Daimler, Indian Firm Choose Site for Truck Plant
Daimler AG and the Hero Group have chosen a site in India to build a new truck plant, Bloomberg reported Monday.
July 7, 2008Business, Safety, Government, Technology, Equipment
Bendix to Offer Automatic Braking for Heavy-Duty Trucks in 4Q
WASHINGTON — Bendix Commercial Vehicle Systems LLC demonstrated here the automatic braking system for heavy-duty trucks it will offer starting in the fourth quarter.
July 7, 2008Government, Business, Safety, Fuel
E&MU: California Emissions Plan Pushes New Engines
California clean-air regulators propose to force all older highway trucks running within state boundaries to be retrofitted first with diesel particulate filters, costing $8,000 to $20,000 and more, and then with equipment that reduces output of nitrogen oxides, in a complicated, staggered schedule in effect from 2010 through 2022.
July 7, 2008