Business

Commercial vehicle supplier Dana Inc. reported third-quarter earnings of $57 million, or 39 cents per share, compared with $119 million, or 75 cents, a year earlier, which reflected a $100 million tax benefit.

Omnitek Engineering Corp. said it signed a contract with a European customer to develop a heavy-duty 13-liter natural-gas engine for Class 8 trucks and certify the engine to EURO 6 emissions standards, utilizing its patented technology.

Union Pacific Corp. net income slipped 13% to $1.13 billion, or $1.36 per share, hurt by lower intermodal and other freight volume and weaker pricing.

In LiveOnWeb's “Master Class on Autonomous Trucking,” Bendix Commercial Vehicle Systems' Fred Andersky joined TT's Neil Abt and Seth Clevenger for a high-level look at platooning, automation and autonomous vehicles, featuring answers to your questions. Watch the replay.

Houston-based investment firm EIV Capital has invested $20 million in Gazelle Transportation, a company based in Bakersfield, California, that provides crude oil transportation, water and waste hauling and portable storage tank rentals primarily within California.

SEOUL — Bankrupt South Korean shipping giant Hanjin said Oct. 20 it plans to lay off 400 workers — more than half of its land-based staff  — as it attempts to right its corporate ship.

Sales of previously owned U.S. homes increased more than projected in September, showing residential real estate continues to contribute modestly to growth, National Association of Realtors data showed Oct. 20.

Filings for U.S. unemployment benefits rose last week by the most since July, after spending several weeks at or near a four-decade low.

Landstar System Inc. reported third-quarter net income fell 7.8% to $36.3 million, or 86 cents per share, hurt by a drop in flatbed freight loads and revenue

The Hanjin Shipping Co. bankruptcy hit the Port of Long Beach hard, but spared most others from year-over-year losses in ocean container traffic, based on port statistics released for September.