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Hurricane Rita was updated Wednesday afternoon to a Category 5 storm, the strongest of the five hurricane categories, news and weather reports said.

FedEx Corp. Wednesday reported a profit for its first quarter ended Aug. 31 of $339 million or $1.10 a share, up 3% from last year’s $330 million or $1.08 a share.

Click here to write a Letter to the Editor. rude oil inventories fell slightly, and distillate fuel and gasoline inventories both rose last week, the Department of Energy said in its weekly inventory report issued Wednesday.

Click here to write a Letter to the Editor. ualcomm Inc. said Wednesday it was raising its income and revenue forecast for its fourth-quarter that ends Sept. 25.

The U.S. retail diesel average price fell 11.5 cents to $2.732 a gallon, the Department of Energy said Monday.

Click here to write a Letter to the Editor. oftware firm Oracle said Tuesday it has agreed to buy G-Log, a privately held provider of logistics and transportation management software. Terms were not disclosed.

Click here to write a Letter to the Editor. PEC ministers said the cartel supply all the oil its members can produce, following price surges in the wake of damage from Hurricane Katrina, Bloomberg reported Tuesday.

Click here to write a Letter to the Editor. .B. Hunt Transport Services will have additional costs of $6.5 million, or 10 cents a share, in its third-quarter earnings statement, after losing an arbitration dispute with BNSF Railway Co.

Click here to write a Letter to the Editor. tlas Air Worldwide Holdings, a provider of air cargo services, reported second-quarter net income Tuesday of $15.9 million 77 cents a share, compared with a loss of $51.4 million or $1.34 last year.

Click here to write a Letter to the Editor. ackage carriers DHL and UPS Inc. said Monday they had resumed operations in the areas hit by Hurricane Katrina on the Gulf Coast.