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U.S. Capital-Equipment Financing Up 23% in April-Survey

A survey of credit providers showed that loans and leases for business equipment in the U.S. rose 23% in April from a year ago, as companies went on their largest buying spree of the year so far.Respondents to the Equipment Leasing and Finance Association's monthly survey published Thursday said they financed $7.5 billion of new equipment last month, up from $6.1 billion in April 2012. Financed purchases in April rose 10% above March. April's volume was the largest since December. For the year, business volume is up 8% over the same time in 2012.Observers said the robust financing volume suggests U.S. businesses are stepping up their capital investments after a prolonged stretch of reduced spending caused by weak sales growth and anxiety about the U.S. government budget and taxes."Over the last four years businesses of all sizes have pursued a defensive strategy of austerity," Paul J. Menzel, CEO of Financial Pacific Leasing LLC in Federal Way, Wash., said. "The anemic revenue story ma...

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  1. Volvo April Truck Deliveries Down 2%

    Swedish truck maker Volvo AB (VOLV-B.SK) said Friday that it delivered 16,572 vehicles for the whole Volvo group, a decline of 2% compared with the same month last y...

  2. Fiat, Cummins Look for Traction in Sliding Truck Market

    Truck and engine manufacturers Fiat Industrial SpA (FI.MI) and Cummins Inc. (CMI) are counting on rebounding sales of commercial trucks this year after seeing demand...

  3. Rise in Volvo orders lifts hopes of trucks recovery

    Volvo , the world's No. 2 truck maker, posted a surprise rise in first-quarter orders and said it would step up production, adding to signs a protracted slump in key...

  4. Volvo Sales Slump, But Order Intake Rises in Key Markets

    Swedish truck maker Volvo AB (VOLV-B.SK) Thursday said its sales volumes in the first quarter of 2013 were the weakest since the financial crisis, but noted a rising...

  5. Paccar's First-Quarter Net Drops 28% On Lower Revenue

    Paccar Inc.'s (PCAR) first-quarter earnings sank 28%, as the truck maker blamed a weak U.S. economy for discouraging truckers from buying the company's Kenworth and ...

  6. Business Borrowing for Equipment Jumps

    Companies stepped up borrowing in March to invest in new equipment, the Equipment Leasing and Finance Association (ELFA) said on Tuesday.Companies signed up for $6.8...

  7. Volvo Names Agnevall New President at Volvo Buses

    Volvo AB (VOLV-B.SK) said Thursday that Hakan Agnevall has been appointed President Volvo Bus Corporation.MAIN FACTS:-Mr. Agnevall will assume his new assignment in ...

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