Oil rose more than $2 Wednesday to close above $56 a barrel — the highest price in almost six months — following an Energy Department report that showed a smaller-than-expected increase in stockpiles, Bloomberg reported.
May 6, 2009BusinessSafetyGovernment
Patriot Transportation’s Fiscal 2Q Income Rises
Tank and bulk carrier Patriot Transportation Holding said Wednesday its fiscal second-quarter net income rose to $1.4 million, or 45 cents a share, from $626,000, or 20 cents, a year ago.
May 6, 2009Business
Deutsche Post’s First-Quarter Profit Improves
Deutsche Post, the Germany-based parent company of DHL Express, said Wednesday its first-quarter quarter profit jumped despite lower revenue, the Associated Press reported.
May 6, 2009Business
Frozen Food Express Cites 1Q Loss
Refrigerated carrier Frozen Food Express Industries lost $6.1 million, or 36 cents a share, in the first quarter, compared with a loss of $825,000, or 5 cents, a year ago.
May 6, 2009GovernmentBusinessEquipment
ArvinMeritor Reports Fiscal 2Q Loss
Truck components maker ArvinMeritor said it lost $52 million, or 72 cents per share, in its fiscal second quarter, compared with a profit of $24 million, or 33 cents per share, a year ago.
May 6, 2009Business
Ritchie Bros. Profit Rises
Ritchie Bros. Auctioneers said it earned $19.9 million, or 19 cents per share, in the first quarter, compared to $16.4 million, or 16 cents, a year ago.
May 5, 2009Business
Bernanke: Economy May Start to Grow This Year
Federal Reserve Chairman Ben Bernanke said Tuesday that the economy will probably start to grow later this year, the Associated Press reported.
May 5, 2009GovernmentBusinessLogistics
UPS Boosting Asian Operations Centers
UPS Inc. announced plans Tuesday to boost its global post-sales service options by expanding a field stocking location network in India and enhancing its Asia logistics customer support center in the Philippines.
May 5, 2009BusinessSafetyGovernment
ISM Services Index Improves in April
The U.S. economy’s service sector rate of contraction slowed last month, the Institute for Supply Management said Tuesday.
May 5, 2009FuelBusinessLogisticsGovernment
Diesel Falls 1.6¢ to $2.185
The national average price of diesel fuel fell for a third consecutive week, dropping 1.6 cents to $2.185, the Department of Energy said.
May 5, 2009