Business

Volvo AB boosted its forecast for truck markets in the U.S. and Europe this year as low fuel prices and interest rates push demand, a development that’s expected to put more strain on an already tight supply chain. The shares rose the most in three months.

A measure of contract signings to buy existing U.S. homes rose in December for a third month, giving sales some momentum at the start of 2018, according to data released Jan. 31 by the National Association of Realtors.

Connecticut Gov. Dannel Malloy released a revenue package Jan. 31 that is expected to stabilize the state’s Special Transportation Fund and restore previously canceled projects through various tax increases and a tolling system.

Independent engine maker Cummins Inc. continued its push into commercial vehicle electrification. The company announced it has acquired Johnson Matthey’s UK automotive battery systems business, a subsidiary that specializes in high-voltage automotive grade battery systems for electric and hybrid vehicles.

ArcBest Corp. ended the year with a strong fourth quarter because of better less-than-truckload pricing and lower expenses than one year ago.

Component supplier Meritor Inc. reported mixed fiscal 2018 first-quarter results, posting a tax-related net loss together with higher revenue amid strength in all its markets.

Companies in the U.S. added more workers in January than projected, indicating the labor market remains healthy, according to data released Jan. 31 from the ADP Research Institute.

The Minnesota Department of Transportation is considering the cost of expanding its tolling program, according to a feasibility study of several major corridors.

Diversified trailer manufacturer Wabash National Corp. reported gains in fourth-quarter revenue and net income, but had a “reset” for the full-year as both indicators dipped.