Chinese Truck Maker Plans Overseas Public Listing
A Chinese truck company plans to transfer its entire stake in its China-based unit to a Hong Kong-based subsidiary in an $845 million deal, paving the way for an overseas listing of that country’s third-largest truck marker, Bloomberg reported.
April 9, 2007Tire Makers Raising Prices
At least five major tire manufacturers said they are raising prices on their medium- and heavy-duty truck tires by 3% to 5%, with most citing the rising cost of raw materials as the reason.
April 9, 2007Greenhouse Ruling Could Raise Costs
The Supreme Court’s ruling that the EPA must reconsider its position to leave “greenhouse gas” emissions from motor vehicles unregulated could lead to increased costs for trucking companies.
April 9, 2007Diesel Jumps 11.4¢ to $2.79 a Gallon
The average retail price of diesel fuel jumped 11.4 cents to $2.79 a gallon, the largest one-week jump in 18 months, the Energy Department reported.
April 9, 2007FedEx Buys Air Cargo Firm
FedEx Corp. said Friday that it signed an agreement to acquire Hungarian air cargo company Flying-Cargo Hungary Kft.
April 6, 2007Crude Prices Fall Following Sailors’ Release by Iran
Crude oil futures fell lower Thursday after Iran released 15 British sailors it had held for two weeks, Bloomberg reported.
April 5, 2007Pacer Lowers ’07 Guidance
Transportation and third-party logistics firm Pacer International lowered its full-year earnings guidance, said it would consolidate some operations and said its board authorized a buyback of up to $100 million of the company’s stock.
April 5, 2007Feb. Factory Orders Rise 1%
Factory orders rose 1% in February following the biggest drop in six years, the Commerce Department said Wednesday.
April 4, 2007ISM Services Index Declines in March
The Institute for Supply Management's services index slipped to 52.4 in March from February’s reading of 54.3, ISM said Wednesday.
April 4, 2007Crude Prices Ease After Iran Says It Will Release British Sailors
Crude oil futures prices declined Wednesday after Iran's President Mahmoud Ahmadinejad said that he will release 15 captured British sailors, news services reported.
April 4, 2007