Business Digest

NATION

Long-haul truckers’ rule will be reconsidered

WASHINGTON — The Obama administration has agreed to reconsider a rule that allows long-haul truckers to drive for up to 11 hours straight, bowing to safety advocates who say longer hours could lead to greater fatigue and more accidents.

The Federal Motor Carrier Safety Administration signed an agreement late Monday with safety and labor groups pledging to revise the rule that became final in the waning days of the Bush administration.

For 60 years, truckers were allowed to drive a maximum of 10 hours at a time.

IBM board approves $5B to repurchase stock

ARMONK, N.Y. — IBM’s board has approved $5 billion for use in the company’s stock repurchase program.

IBM Corp. said Tuesday the money is in addition to the roughly $4.2 billion remaining from the board’s earlier buyback authorization. In addition, IBM says it plans to request more stock buyback authorizations in April at the next board meeting.

The company says it also declared a regular quarterly cash dividend of 55 cents. The dividend is payable Dec. 10 to shareholders on record as of Nov. 10

Associated Press