American Dollar to Canadian Dollar = 0.734187; American Dollar to Chinese Yuan = 0.141692; American Dollar to Euro = 1.074064; American Dollar to Japanese Yen = 0.007142; American Dollar to Mexican Peso = 0.056370.
https://www.x-rates.com/table/?from=USD&amount=1.00
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American Trucking Associations’ Technology & Maintenance Council and Decisiv Inc. said combined parts and labor expenses fell 1.4% during the fourth quarter of 2023. In the latest Decisiv/TMC North American Service Event Benchmark Report, TMC and Decisiv found that 25 key VMRS systems dipped in the final quarter of 2023, reversing a 2.1% increase the previous quarter. The decrease was driven largely by parts costs, which dropped 2.2% in the fourth quarter of 2023 while labor costs fell 0.2%. While quarter-over-quarter parts and labor costs both declined in the last three months of the year, the parts-to-labor ratio held steady at about 1.5 for the past year. On a year-over-year basis, combined parts and labor costs in final quarter of 2023 were 0.2% higher than the same quarter in 2022. However, in the annual comparison, a 2.2% drop in parts prices was offset by a 4.0% rise in labor costs.
UPS has entered into a definitive agreement to sell UPS Freight (UPSF) to TFI International Inc. for $800 million, subject to working capital and other adjustments. “We’re excited about the future and the opportunities this creates for both UPS and UPS Freight as part of TFI International Inc.,” said UPS Chief Executive Officer Carol Tomé. “The agreement allows UPS to be even more laser-focused on the core parts of our business that drive the greatest value for our customers.” The decision to sell UPS Freight was reached following a thorough evaluation of the UPS portfolio, and aligns with the company’s “better not bigger” strategic positioning. UPS and TFI International will also enter into an agreement for UPS Freight to continue to utilize UPS’ domestic package network to fulfill shipments, for a period of five years.
December futures were little-changed in New York. OPEC and its partners including Russia achieved a record-high level of compliance to output cuts during September, according to a statement on Saturday. In the U.S., drillers reduced the rig count for a third week to the lowest since June, according to Baker Hughes. “The lower U.S. rig count number, the OPEC compliance number and the geopolitical headlines from northern Iraq and Iran on sanctions have helped futures higher,” Ole Hansen, head of commodity strategy at Saxo Bank A/S said. “But there are signs the market could be weakening with the seasonal refinery demand slowdown.” One sign that demand could be weakening is the Brent market structure known as backwardation -- when prompt prices are more expensive than later-dated futures -- which isn’t as strong as a month ago, said Hansen. Click Read More below for additional information.