Parcel courier UPS Inc. on Friday said it restated its financial results for 2007, lowering its yearly per-share earnings to 36 cents from 42 cents because of a tax error, Bloomberg News reported.
February 29, 2008Business
PHH Arval’s 4Q Earnings Improve
PHH Corp. on Friday said that its fleet management service subsidiary, PHH Arval, earned $35 million in the fourth quarter, up from $27 million a year ago.
February 29, 2008GovernmentBusiness
Personal Spending Rises 0.4% in January
Consumer personal spending rose at a rate of 0.4% in January, the Commerce Department said Friday.
February 29, 2008BusinessLogistics
Wabash Sets Plans for New Trailer Plant
Trailer manufacturer Wabash National said it is planning to construct a $25 million trailer manufacturing plant in Franklin, Ky. as part of a new cost-savings initiative.
February 29, 2008BusinessGovernmentFuel
Oil Tops $102 a Barrel, Sets New Record
Crude oil prices reached another record close on Thursday, passing the $102 a barrel mark as investor flocked to commodities as a hedge against the falling dollar, Bloomberg News reported.
February 28, 2008BusinessSafetyGovernmentLogistics
TransForce's 4Q Income Falls on Goodwill Charge
Canadian transportation firm TransForce Income Fund said Thursday it lost C$30.8 million, or 36 cents a share, in the fourth-quarter as a result of a C$56 million write-off of goodwill associated with the Fund’s Oilfield Services division.
February 28, 2008Business
Initial Claims Rise by 19,000 for Week
Initial jobless claims increased by 19,000 for the week ended Saturday, the Labor Department said Thursday.
February 28, 2008BusinessLogisticsGovernment
Teamsters, DHL Reach Tentative Pact
The Teamsters union said Wednesday its national negotiating committee reached a tentative agreement on an agreement with package carrier DHL.
February 27, 2008BusinessLogistics
Contrans’ 4Q Profit Dips Slightly
Canadian firm Contrans Income Fund said Wednesday its fourth-quarter income was C$7.5 million, or 31 cents per unit, compared with C$7.8 million, or 31 cents, a year ago.
February 27, 2008BusinessSafetyGovernment
January Truck Tonnage Jumps 5.3%
January truck tonnage jumped 5.3% from a year ago, the biggest year-to-year gain since January 2005, American Trucking Associations said in its seasonally adjusted for-hire truck tonnage index.
February 27, 2008