News

CIT Names Managing Director to Lead Supply Chain Finance Unit

CIT Group named Joerg Obermueller managing director of the Supply Chain Finance business within its Commercial Services division. read more

Cat Financial to Sell Commercial Accounts to Citibank

Cat Financial will bring its customers the Cat Card Program offered by Citibank. The company said on August 27 all existing Cat Financial commercial accounts will be purchased by Citibank. read more

FASB Issues Targeted Improvements to Leases Standard

FASB issued an Accounting Standards Update that reduces costs and eases implementation of the leases standard for financial statement preparers. read more

Caterpillar Reports 24% Increase in Sales and Revenues in Q2/18

Caterpillar reported Q2/18 sales and revenues of $14.0 billion, compared with $11.3 billion in Q2/17, marking a 24% increase. read more

J.D. Power: ‘Fleets Will Take Delivery of Additional New Trucks’

In a recent industry update, J.D. Power Valuation Services predicts in coming months, fleets will take delivery of additional new trucks and trade activity will increase, forcing market dynamics to look more normal. read more

ABLE Equipment Rental Opens 6th Location in Northeast

ABLE Equipment Rental opened its sixth full-line facility in Allentown, PA. read more

TCF Q2 Earnings Hurt by BCFP Charge; Leasing Benefits from Purchase

TCF Financial reported Q2/18 earnings were down as result of a $32 million pre-tax charge with the BCFP. TCF also noted an equipment finance portfolio increase that resulted from a portfolio purchase in Q3/17. read more

LTi Technology Solutions Adds Weeks, Promotes Hunt and Rieck

LTi Technology Solutions appointed Bill Weeks to the position of SVP and COO. LTi also promoted Bryan Hunt to SVP and chief revenue officer and Philip Rieck to SVP and chief technology officer. read more

Q2/18 GDP Increases at 4.1% Annual Rate, Up From 2.2% in Q1/18

According to the Bureau of Economic Analysis, real gross domestic product increased at an annual rate of 4.1% in Q2/18, up from an annual rate of 2.2% in Q1/18. read more

Caterpillar Global Retail Machine Sales up 25%, Led by Resource Industries

Caterpillar reported a 25% Y/Y increase in total machine sales worldwide for the three-month rolling period ended in June 2018, following increases of 24% and 28% in May and April, respectively. The increase was led by worldwide retail sales in Resource Industries. read more

Cebu Pacific to Lease Five A320s from Avolon Aerospace Leasing

Philippine carrier Cebu Pacific will add five Airbus A320neos via an operating lease agreement with Avolon Aerospace Leasing in the first half of 2019. read more

Transportation Leads Report on Orders, Shipments & Unfilled Orders

The U.S. Census Bureau reported new orders, shipments and unfilled orders all advanced in June. The advancement was led by transportation equipment. read more

Jauernig to Retire from Element Fleet Management

Dan Jauernig, president and chief operating officer of Element Fleet Management, will retire from the company, effective July 31, 2018. read more

ACT Research: Class 8 Natural Gas Truck Retail Sales Down 18% YTD

According to ACT Research, U.S. and Canadian natural gas Class 8 truck retail sales rose 13% in 2017 but have fallen 18% year-to-date through May 2018. read more

Daimler: Highest Ever Sales, Truck Outlook ‘Significantly Higher’

Daimler said it sold more vehicles in the first six months of 2018 than ever before in a half year. The company also noted Daimler Truck sales in 2018 “will be significantly higher than in the previous year.” read more

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