Business

Diesel prices will average $2.59 this year, down from $2.705 last year and 7 cents below an earlier forecast, the Department of Energy said Tuesday.

ArvinMeritor Inc. said it would take a loss on the pending $310 million sale of its emissions technology business to a private equity firm, Bloomberg reported.

Kansas City Southern railroad said Tuesday it earned $35.7 million or 41 cents a share in the fourth quarter, compared with earnings of $2.3 million or 3 cents a year earlier.

President Bush’s proposed budget for fiscal year 2008 asks Congress for a 10% increase in transportation spending to $63.7 billion, Bloomberg reported Tuesday.

Continued frigid temperatures across the Plains states, Midwest and East Coast are causing problems and hazards on roadways, and snow was forecast in some regions of the Midwest for Tuesday, news services reported.

European truck maker MAN AG’s fourth-quarter profit rose 22% on higher demand for commercial vehicles in eastern Europe, where economies grew twice as fast as in the company’s domestic market in Germany, Bloomberg reported.

The average price of retail diesel fuel rose 2.2 cents to $2.435 a gallon, marking the first increase in eight weeks, the Department of Energy said late Monday.

FedEx Corp. said Monday it has integrated its 2006 acquisition of Watkins Motor Lines into its less-than-truckload network in the United States and Canada.

Auto hauler Allied Holdings filed a motion Friday asking that an Atlanta bankruptcy court void the contract between the Teamsters union and Allied and allow the company to implement the wage, benefits and work-rule concessions it has been seeking, the Teamsters said.

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