Oil prices rose almost $5, or 10%, to near $48 a barrel Thursday after Saudi Arabia鈥檚 oil minister said OPEC may set production cuts next week, Bloomberg reported.
December 11, 2008BusinessGovernment
Business Inventories Take Largest Drop in Five Years
Business inventories fell 0.6% in October, the largest decline in five years, the Commerce Department said Friday.
December 12, 2008BusinessGovernment
Retail Sales Fall by For Fifth Straight Month
Retail sales fell 1.8% in November, the fifth consecutive month of decline, led by a continued drop in automobile and gasoline sales, the Commerce Department said Friday.
December 12, 2008BusinessGovernmentFuel
California Eyes Requiring Particulate Filters on All Heavy Trucks
California regulators are considering a first-in-the-nation plan that would require almost all privately owned heavy-duty trucks in the state to install particulate filters to reduce soot emissions by 85%, the San Jose Mercury News reported Thursday.
December 11, 2008BusinessSafetyGovernmentFuel
Obama Chooses Heads of DOE, EPA
President-elect Barack Obama has chosen the Nobel-prize-winning head of a California research institute and a former New Jersey environmental official to fill his cabinet positions heading the Department of Energy and the Environmental Protection Agency, Bloomberg reported Thursday.
December 11, 2008BusinessGovernment
Import Prices Fall 6.7% in November
The price of goods imported to the United States fell 6.7% in November, the largest drop since recording began in 1988, the Labor Department said Thursday.
December 11, 2008BusinessSafetyGovernment
Infrastructure Program Funding May Reach $20 Billion
Federal funding highway infrastructure projects in an economic stimulus plan may be about $20 billion, Bloomberg reported, citing a group that represents state transportation officials.
December 11, 2008BusinessSafetyGovernment
DOT Freight Transport Index Drops 0.6% in October
The Department of Transportation鈥檚 freight transportation services index fell 0.6% in October from a year ago, leaving it at its lowest level for the month of October in five years.
December 10, 2008BusinessLogisticsGovernment
Schneider Expands Regional Service
Truckload carrier Schneider National said Wednesday it is extending its regional service to customers in the south-central United States, increasing its regional footprint to 16 states in less than a year since it first launched the offering.
December 10, 2008Government
Wholesale Inventories Decline 1.1%
Wholesale inventories fell 1.1% in October, the largest drop in seven years, the Commerce Department said Wednesday.
December 10, 2008