Business

The House of Representatives last week approved a three-month extension of the current highway funding law, over the objections of many House Republicans who said the bill was a step toward raising fuel taxes.

Peterbilt Motors Co. announced Tuesday that it will permanently close its Madison, Tenn., truck plant, near Nashville.

Some trucks would pay roughly $40 during rush hour to travel Maryland’s newest highway under a proposed toll schedule being considered by the Maryland Transportation Authority.

U.S. consumer confidence fell in September, according to the Conference Board's monthly consumer sentiment index released Tuesday.

Navistar International Corp. and Caterpillar Inc. said Tuesday that their joint venture to sell commercial trucks globally will pursue an agreement with a Chinese firm to sell trucks there.

Volvo Trucks will begin field tests in Europe next year of heavy trucks powered by bioDME, a biomass fuel the company said has long-term potential to replace 50% of diesel now used in European trucking.

ArvinMeritor Inc. said it has opened a technical center in Bangalore, India, to provide product development for its axle and brake products.

FedEx Corp, Chief Executive Officer Fred Smith said at the company’s annual meeting that economic recovery is “slow but certain,” Bloomberg reported.