Business

Volvo AB cut its outlook for the North American truck market for the third time this year after stagnant freight volumes and excess inventory drove orders in the region down by nearly one-third in the second quarter.

New-home construction in the United States rose more than forecast in June, providing momentum for residential real estate near the end of its busy selling season.

Hyundai Merchant Marine Co. will join the world’s biggest shipping alliance, meeting all conditions imposed by creditors as the company seeks to reduce debt after years of weak global demand caused losses.

The U.S. average diesel retail price slipped 1.2 cents to $2.402 as inventories of crude oil and refined products remain high, the Department of Energy reported.

Minnesota Gov. Mark Dayton said July 15 he is creating a public-private group to improve communication, safety and economic development related to rail service across the state.

Higher profit from dedicated truckload business helped J.B. Hunt Transport Services Inc. to eke out a 1.5% second-quarter net income increase to $105.1 million, or 92 cents per share, but weaker than expected intermodal unit performance and other factors led the company to lower its 2016 earnings expectations.

A new air cargo carrier announced it would start twice-weekly service to Portland, offering a new route for Oregon goods headed for Asia.

The arrival of the Ever Lambent, a massive green-hulled containership, in Baltimore on July 16 marks the end of a long wait and the beginning of what officials hope is a new era for the state-owned port.

The half-dozen giant cranes that once lifted huge containers of goods on 160 acres of East Bay waterfront now lie dormant.