Business

The North American Chassis Pool Cooperative, founded by drayage carriers to address chassis supply and maintenance issues, has announced the opening of a new premium pool at Savannah, Georgia, the second-busiest East Coast port.

Consumer purchases climbed a bit more than anticipated in June, exceeding a gain in incomes that prompted American households to tap into savings.

NORTH CHARLESTON, S.C. — Mercedes-Benz Vans broke ground on its $500 million Sprinter plant for the North American market in North Charleston on July 27 as a company executive cited growing demand for Euro-style vans.

Bendix Commercial Vehicle Systems is recalling approximately 200,000 SR-5 brand spring brake valves manufactured between Jan. 1, 2014, and March 4, 2016, because of a defect that could affect parking the tractor-trailer. The recall affects only brakes on trailers, not on tractors, according to Bendix.

The U.S. average retail price of diesel fell 3.1 cents to $2.348, the Department of Energy said, amid high fuel inventories plus falling crude oil prices that are approaching a bear market.

Oil fell below $40 a barrel for first time since April, falling into a bear market on concern that the global supply glut will expand.

Verizon Communications Inc. has entered into a definitive agreement to acquire Dublin-based Fleetmatics Group for about $2.4 billion, or $60 per share in cash, as it expands its telematics business.

The Port of Memphis isn't pretty, but it works. Bustling with oil and chemical storage tanks, warehouses, factories, trucks, trains and barges, it's where the heavy lifting of Memphis is done: manufacturing, steel fabricating, chemical and food processing and asphalt mixing.

UPS Inc. announced that it is expanding package delivery service into the Caribbean, Central America, South America, Asia, Europe and Africa to reach a total of 117 countries and national territories.