Penske Automotive Buys Stake in Truck-Leasing Venture
Penske Automotive Group bought a 9% stake in Penske Truck Leasing Co. from a General Electric Co. unit for $219 million, Bloomberg reported.
July 2, 2008Truckers Protest in England, India
Truckers protested high fuel prices in London and in India Wednesday, blocking streets and parking rigs, Bloomberg reported.
July 2, 2008ArvinMeritor Forecasts Higher 3Q Sales
ArvinMeritor Inc. said Wednesday that its fiscal third-quarter sales will rise as much as 20% to $2 billion on higher demand in Asia and South America, and for military products in North America.
July 2, 2008Oil Closes at Record Just Short of $141 a Barrel
Oil closed at a record just short of $141 a barrel on Tuesday, following an International Energy Agency report said supplies may lag behind demand for the next five years, Bloomberg reported.
July 1, 2008Auto Sales Plunge, Led by Decline in Pickups, SUVs
Three major automakers reported their June sales plunged as fuel prices reached record levels, Bloomberg reported Tuesday.
July 1, 2008Diesel Dips 0.3¢ to $4.645; Gas Hits Record $4.095
Diesel fuel’s national retail pump average declined 0.3 cent to $4.645 a gallon, the Energy Department reported.
July 1, 2008ISM Factory Index Shows Expansion
U.S. manufacturing levels expanded in June for the first time in five months, the Institute for Supply Management said Tuesday.
July 1, 2008Construction Spending Falls 0.4%
Construction spending fell 0.4% in May, the Commerce Department said Tuesday.
July 1, 2008Truck Stops See Increase in Diesel Thefts as Fuel Prices Soar
An executive with Pilot Travel Centers said the number of diesel fuel thefts has soared this year.
July 1, 2008California, Washington Cell Phone Laws Take Effect
Laws prohibiting hand-held cell phones take effect Tuesday in California and Washington state, the Associated Press reported.
July 1, 2008