U.S. auto stocks and Asian battery makers fell after Reuters reported President-elect Donald Trump plans to eliminate a key consumer tax credit aimed at boosting electric-vehicle adoption.

Fisker Inc. is pausing production for the next six weeks as the electric vehicle maker looks to rein in inventory and avoid possibly having to file for bankruptcy.

Nikola Corp. fell in early trading after the maker of electric big rigs warned it may not reach its full-year delivery target as it grapples with fallout from recent battery incidents.

Norfolk Southern Corp. agreed to acquire Cincinnati Southern Railway, tightening the company’s grip on a critical 337-mile line it already operates under a lease agreement.

UPS Inc. agreed to buy 19 Boeing Co. freighter jets as soaring e-commerce and snarled shipping lines lead to a boom in air-cargo demand.

Elon Musk was named Time magazine’s “Person of the Year,” capping a run during which the head of Tesla Inc. solidified his standing as the world’s richest person and turned his onetime electric vehicle startup into a $1 trillion company.

Home Depot Inc. agreed to buy building products distributor HD Supply Holdings Inc., reuniting the home-improvement retailer with its former subsidiary more than a decade after they split apart.

The shipping industry will remain volatile for most of 2020 as the coronavirus outbreak in China upends the global supply chain, said the head of the largest U.S. container port.

A strengthening economy has its downsides. Just ask United Natural Foods Inc.

General Electric Co. agreed to buy ShipXpress Inc., a cloud-based software firm, to bolster its supply chain offerings for railroad customers.