Business

The board of directors of Cummins Inc. approved a 5.1% increase in the quarterly dividend July 12, hiking the rate from 97.5 cents per share to $1.025 for all stockholders as of Aug. 22.

Consumer confidence in the United States dropped in July as U.K.’s vote to leave the European Union flustered high-income earners.

Manufacturing in the United States last month posted the strongest advance since January, helped by automobile production and a sign domestic demand is improving.

Sales at U.S. retailers rose more than forecast last month in a broad advance that shows consumers delivered for the economy in the second quarter.

The cost of living in the U.S. rose in June, propelled by a rebound in fuel prices and sustained gains in rents that are driving inflation closer to the Federal Reserve’s goal.

Ports America, the closely held maritime terminal operator, is exploring a sale, people with knowledge of the matter said.

International container traffic through California ports dipped slightly overall in June as global freight flows softened.

SAF-Holland SA has offered $495 million (4.2 billion kronor) to buy Haldex AB, a combination of truckmaking suppliers that could help match mechanical parts with sensors and electronic components as big rigs increasingly link up to the internet.

CSX Corp. began the second-quarter freight transport earnings reporting season by announcing that net income fell 20% to $445 million, or 47 cents per share, dragged down by a 34% reduction in coal revenue.