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Truck and auto components maker ArvinMeritor Inc. said it completed the sale of its body systems business to automobile parts provider Inteva Products LLC for $27.3 million.

Oil slipped below $89 a barrel Wednesday following a report that showed diesel and gasoline inventories improved more than forecast last week, Bloomberg reported.

YRC Worldwide and the Teamsters union said they have agreed to provide more time for the company to recapitalize its balance sheet.

Factory orders rose 0.7% in November, the Commerce Department said Tuesday.

U.S. manufacturing activity rose at the fastest pace in seven months in December, the Institute for Supply Management said.

Construction spending rose 0.4% in November, the third straight monthly increase, the Commerce Department reported.

The Federal Motor Carrier Safety Administration’s proposed new hours-of-service rule would cut driving hours, a move that trucking industry leaders said was politically motivated, adding cost and complexity while jeopardizing safety advances made in recent years.

Fueled by growth in dry vans, net trailer orders in the United States reached a two-year high in November of 21,314 units, ACT Research reported.