Business

FedEx Corp. said the IRS has withdrawn tentative taxes and penalties of more than $319 million stemming from whether the company incorrectly classified employees as independent contractors, the Associated Press reported.

Daimler AG said Thursday its third-quarter income improved from a year ago and that its truck unit was its only division to show an improvement in earnings, though it cut its full-year earnings forecast by 1 billion euros ($1.3 billion), Bloomberg reported.

Initial jobless claims rose by 15,000 last week, while continuing claims fell, the Labor Department said Thursday.

Old Dominion Freight Line said its third-quarter net income rose 16.7% to $23.4 million, or 63 cents a share, from $20 million, or 54 cents, a year ago.

Con-way Inc. said its third-quarter net income increased to $38.8 million, or 81 cents per share, from $37.3 million, or 78 cents, a year earlier.

Truckload carrier Knight Transportation’s third-quarter profit rose to $16.1 million, or 19 cents a share, from $14.5 million, or 17 cents, a year ago.

Truck dealership Rush Enterprises’ third-quarter net income fell to $8 million, or 21 cents a share, down from $13.1 million, or 34 cents, a year ago.

NEW ORLEANS — Fleet executives said that despite the benefits of using safety technology, attitudes within the industry need to change in order to have wider acceptance.

The Justice Department filed an amicus brief in support of American Trucking Associations’ challenge to the Ports of Los Angeles and Long Beach’s port concession plans.

Arkansas Best Corp.’s third-quarter net income fell to $15.4 million, or 61 cents a share, from $18.9 million, or 75 cents, a year ago.