Business

ABF Logistics has purchased Smart Lines Transportation Group, a truckload brokerage firm based in Oklahoma City, for $5.17 million.

Volvo AB said Jan. 5 it completed its 45% acquisition of Chinese automotive manufacturer Dongfeng Commercial Vehicles Co. for about $885 million.

Dennis Morgan has been promoted to the president’s post at Cowan Systems, where Joseph Cowan will remain chairman and CEO.

Clean Energy Fuels Corp. has sold its majority stake in the McCommas Bluff biomethane production facility in Dallas for $40.6 million.

The next chairman of a key Senate transportation panel said federal lawmakers should “look at all the options” to keep infrastructure projects funded in the coming years.

Sen. Bernie Sanders (I-Vt.) plans to introduce a bill in the new session of Congress to authorize $1 trillion in spending over several years to rebuild the nation’s roads and bridges and invest in other infrastructure modernization projects.

U.S. rail intermodal traffic increased 5.2% in 2014 from the prior year, the Association of American Railroads reported.

After Damien and Tina Bucci were approved for a mortgage in 2012, they decided they couldn’t afford the biggest purchase of their lives without greater confidence in the U.S. economy. Next month, they will close on their first home, a four-bedroom Colonial with a half-acre yard.

Oil fell for a third day, extending its drop from the lowest close since 2009, as record supplies from Iraq and Russia bolstered speculation that a global glut that drove crude into a bear market will persist.