Oil fell more than $4 to a four-month low near $91 a barrel Thursday after the U.S. government said it would tap the Strategic Petroleum Reserve as part of an international effort to boost supplies, Bloomberg reported.
June 23, 2011Search
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Initial Jobless Claims Climb by 9,000
Initial jobless jumped by 9,000 to 429,000 last week, the Labor Department said Thursday.
June 23, 2011Michelin North America Chairman Wilkerson to Retire
Michelin North America said Thursday that its chairman, Richard Wilkerson, will retire by year’s end. He will be succeeded by Pete Selleck.
June 23, 2011Weber Logistics Names New CEO
Nick Weber, chairman of Weber Logistics, announced Wednesday that the Santa Fe Springs, Calif., third-party logistics firm has named Harry Drajpuch its president and CEO, effective immediately.
June 22, 2011Navistar Wins Powertrain Contract from U.S. Postal Service
Navistar Inc. has been awarded a contract by the U.S. Postal Service to engineer a diesel powertrain replacement for postal delivery vehicles, aimed at reducing rising maintenance and fuel costs for USPS’ aging delivery vehicle fleet.
June 22, 2011Postal Service Lacks Funds to Repair, Replace Aging Truck Fleet, GAO Study Finds
The U.S. Postal Service, like many commercial fleets, is facing the problems of an aging truck fleet, including burgeoning maintenance costs, but lacks the financial resources to do anything about it, a new government study found.
June 1, 2011Daimler Targets Growth in European Mercedes-Benz Truck Sales
Daimler AG plans to sell 20% more Mercedes-Benz trucks this year in the European market, boosted by demand for a revamped version of the long-haul Actros model, Bloomberg reported.
June 22, 2011NLRB Proposal Could Boost Unions’ Elections
The National Labor Relations Board has proposed changes to federal rules governing union organizing elections, including limiting the time employers have to fight representation votes, the Wall Street Journal reported Wednesday.
June 22, 2011FedEx’s Fourth-Quarter Profit Rises 33%
FedEx Corp. said Wednesday its fiscal fourth-quarter profit rose 33% from a year ago on a stronger economy, higher demand and increased volumes.
June 22, 2011Fed Trims Economic Forecast; Holds Key Interest Rate at Record Low
Federal Reserve officials lowered their forecasts for growth and employment this year and into 2012, saying the U.S. economy “is continuing at a moderate pace, though somewhat more slowly” than previously projected.
June 22, 2011