Business

EDMONTON, Alberta — Bolstered by a growing Canadian economy and a strong trucking market overall, Mack Trucks is looking to increase its presence across the northern border.

Heinz Hermann Thiele is about $6 billion richer after last week’s initial public offering of his largest asset, Knorr-Bremse AG, the world’s biggest maker of truck and train braking systems. The IPO makes him Germany's fourth-richest person, with a net worth of $15.3 billion, according to the Bloomberg Billionaires Index.

The U.S. budget deficit grew to $779 billion in Donald Trump’s first full fiscal year as president, the highest since 2012 amid tax cuts and spending increases.

Transportation Secretary Elaine Chao has appointed 15 people, including representatives of the trucking industry, to serve as members of the new Advisory Committee on Human Trafficking.

UPS Inc. plans to hire as many as 40,000 seasonal employees nationwide when it holds a one-day hiring blitz, the package delivery giant announced Oct. 15. UPS will hold 170 job fairs Oct. 19 and hire employees on the spot.

Medium-duty commercial battery-electric vehicles are a viable alternative to diesel and gasoline-powered Classes 3-6 trucks in urban settings where the freight haul is less than 100 miles, according to a new guidance report from the North American Council for Freight Efficiency.

Element Fleet Management Corp. has sold 45 million shares of stock to a group of banks and investment firms for $300 million and will use the net proceeds to pay down debt and implement a plan to “meaningfully” improve the company’s financial performance and position the business for growth.

NEW YORK — Sears filed for Chapter 11 bankruptcy protection Oct. 15, buckling under its massive debt load and staggering losses. The question now is whether a smaller version of the company that once towered over the American retail landscape can remain viable or whether the iconic brand will be forced out of business

WASHINGTON — U.S. consumer spending edged up a slight 0.1% in September, a disappointing performance in which rebounding auto sales were offset by weakness in other areas.

It has been 25 years since a Texas family purchased the patent for a device that would keep truck tires inflated, a move that proved prescient.