Business

Eaton Corp. reported lower net income and revenue in the third quarter, but called it a stronger than expected performance.

Algeria, which this year holds the OPEC presidency, said that both Saudi Arabia and Russia were pressing fellow members to prolong the current oil-supply cuts into next year, rather than tapering them as planned. Algeria supported the proposal, the first country to publicly do so.

Expeditors International of Washington posted third-quarter gains in profit and revenue as the logistics company capitalized on a rebounding economy.

ArcBest Corp. posted gains in net income and revenue in the third quarter as its business rebounded from the economic impact of the coronavirus pandemic.

Volvo Trucks North America announced it, and other industry associations and companies, helped facilitate the modification of California utility rules to give private entities the ability to sell electricity as a motor fuel at publicly accessible charging stations for medium- and heavy-duty electric vehicles.

Before the federal government’s revised hours-of-service rules went into effect Sept. 29, suppliers of electronic logging devices were busy updating their software.

Jean-Claude Fortin, president of J.E. Fortin Inc., has been named chairman of the Canadian Trucking Alliance.

U.S. stocks rose as a gust of optimism swept through global equity markets as millions of Americans headed to vote. The dollar weakened and crude oil increased by the most in a month.

Matson Inc., Hawaii’s largest ocean cargo transportation firm, continued to capitalize on expanded service from China to the mainland and nearly doubled its third-quarter profit.

Ted Stevens Anchorage International Airport remained one of the nation’s busiest airports in recent months as disrupted shipping patterns during the COVID-19 pandemic fueled soaring cargo activity.