Business

The trucking and freight economy appears to be doing better than the overall U.S. economy as fleets adjust to contend with supply chain changes caused by the COVID-19 pandemic.

Treasury Secretary Steven Mnuchin renewed a push for a more limited next-round U.S. pandemic relief package of “a little more than $1 trillion” on Aug. 12, saying that Democratic demands for spending more could be discussed down the road.

The Federal Motor Carrier Safety Administration has again extended its emergency declaration relaxing hours-of-service rules for motor carriers that are providing direct assistance in support of coronavirus-related relief efforts.

Tesla Inc. is splitting its richly valued shares in a 5-for-1 exchange, a move designed to make the stock less expensive for individual investors after the company became the world’s most valuable automaker.

U.S. consumer prices rose in July by more than expected on a jump in auto and apparel costs, though inflation remained broadly muted as the pandemic suppressed demand.

Independent engine maker Cummins Inc. and Navistar International Corp. announced Cummins will be the preferred supplier of Navistar’s medium-duty and heavy-duty big bore engines in its International trucks and IC buses in the U.S. and Canada.

Occidental Petroleum Corp. will have just a single oil rig in the Permian Basin in the second half of the year, illustrating the scale of the shale industry’s pullback and the company’s debt woes.

Boeing Co.’s lousy year got even worse in July, as lost orders for the grounded 737 Max topped 400 and the coronavirus pandemic stymied shipments of the 787 Dreamliner.

The California Department of Transportation is repaving a segment of a state highway using only recycled materials in a pilot project.

Commercial Vehicle Group Inc. reported a second-quarter net loss and a decline in revenue as end markets contracted in a difficult quarter marked by the coronavirus pandemic.