Business

Diversified truck manufacturer AB Volvo reported a surge in net income as well as record revenue for 2017 as truck demand remains high in Europe and is increasing in North America and Brazil.

Productivity in the U.S. unexpectedly fell for the first time since early 2016 as working hours slightly outpaced output, underscoring a sluggish pace of efficiency gains during this expansion, a Labor Department report showed Feb. 1.

UPS Inc. reported robust fourth-quarter earnings, even after adjustments tied to pension contributions and the Tax Cuts and Jobs Act, led by double-digit growth in the freight and third-party logistics businesses and a strong holiday season.

Patriot Transportation Holding Inc. announced $3.6 million in profits in its fiscal first quarter, more than four times the amount one year ago thanks to $3 million in deferred tax benefits tied to the Tax Cuts and Jobs Act.

Landstar System said it reached a key milestone in the fourth quarter of 2017 with revenue topping $1 billion for the first time and earning record profits from its asset-light trucking and freight brokerage operations.

Motorists in California, the state with the most expensive gasoline, could see pump prices that begin with a 4 again as oil markets rally.

A FedEx Express job fair is scheduled for 8 a.m. to 3 p.m. Feb. 3 at 2874 Business Park Drive, Building D, near Memphis International Airport.

If you look solely at Mack Trucks’ delivery total last year, you see a number that is only 4% — or about 800 trucks — higher than the company’s total in 2016, which was its worst statistical year since 2010.

While proceeds from Americold Logistics’ recent initial public offering are going mostly to pay off debt, executives say the move also will help kickstart growth for the Altanta-based warehouse operator by boosting its ability to pursue acquisitions and fund new e-commerce distribution, transportation and logistics services.