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Truckload carrier Schneider National said late Wednesday that Scott Arves, its president of transportation, resigned after more than 27 years with the company.

Oil prices rose for the fifth straight day Wednesday and topped $73 a barrel Thursday following a Department of Energy report that showed declining gasoline inventories leading to the July 4 holiday week, news services reported.

Goodyear Tire & Rubber Co. said Thursday it has signed agreement to develop and operate truck service centers at Pilot Travel Centers.

Flooding from heavy rains this week washed out roads and rail lines throughout the Mid-Atlantic and Northeast, causing part of Interstate 88 in New York state to collapse and leading to accidents that killed two truckers Wednesday, the Associated Press reported.

The U.S. economy grew at a revised 5.6% annual rate in the first quarter that was greater than first reported, the Commerce Department said Thursday.

First-time unemployment claims rose by 4,000 to 313,000 last week, the Labor Department reported Thursday.

The driver turnover rate for large truckload carriers was 116% during the first quarter, a 20-point drop from the previous quarter and the largest quarterly decrease since American Trucking Associations started tracking the statistic in 1995.

The Federal Reserve voted unanimously Thursday to raise the benchmark U.S. interest rate a quarter-point to 5.25%.

Trucking industry groups said they would support new legislation focusing federal efforts on checking the backgrounds of drivers who haul “security-sensitive” material, provided it replaces the current system.

UPS Inc. and the U.S. Postal Service have agreed to a deal under which UPS will carry some U.S. mail on its airplanes, the company said Wednesday.