Business

Allison Transmission Inc. posted strong second-quarter gains in net income and revenue following higher demand in North America for service parts and on-highway products.

Matson Inc. sailed over a shallow trough of lower Hawaii cargo shipments to produce a 33% profit gain in the second quarter largely driven by enhanced business in China and Alaska.

Independent engine maker Cummins Inc. notched gains in second-quarter net income and revenue, pointing to higher demand for trucks and construction equipment in North America and China as well as stronger sales to mining and oil and gas customers, according to the company.

American manufacturers turned in another solid month in July amid steady growth in production, orders and employment, according to figures from the Institute for Supply Management released Aug. 1.

Schneider reported that profits in the second quarter increased 5.2% compared with a year ago, beating the Bloomberg News consensus forecast on net income and earnings per share.

Eaton Corp. reported net income and revenue rose during the second quarter led by gains in its electrical products segment.

Caterpillar Inc. Chief Financial Officer Brad Halverson will retire in early 2018.

Consumer spending lost momentum in June and a drop in dividend payments caused incomes to stagnate, signaling the U.S. economy may get less help from households this quarter, Commerce Department figures showed Aug. 1.

The boom in e-commerce is affecting the demand for commercial real estate and driving up rental rates, according to a recent report by commercial real estate firm CBRE.