Business

New housing starts jumped 9% in February, following a slump in January, the Commerce Department reported Tuesday.

US 1 Industries’ fourth-quarter income was $1.4 million or 11 cents a share, compared with $600,000 or 5 cents a year earlier.

Transportation firm EGL Inc. said Monday it has signed a definitive merger agreement under which EGL Chairman and Chief Executive Officer James Crane and two investment firms will buy the firm for $38 per share, or about $1.7 billion.

FedEx Corp.’s less-than-truckload units said late Friday they will implement 5.59% general rate increase, effective April 2.

Less-than-truckload carrier Old Dominion Freight Line said it would raise its base rates by about 5.1%, effective next Monday.

GE Capital Solutions and the Blackstone Group said Friday they would acquire PHH Corp. for $31.50 per share, or about $1.8 billion.

Eaton Wins Patents for Hybrid-Electric Power • CSX Joins EPA Greenhouse-Gas Reduction Program • UPS Boosts Technology Offering

For decades, diesel engines — prized for their durability and pulling power — have dominated broad segments of the heavy truck and equipment markets. As gasoline prices rose in the 1970s, diesels made quick inroads in light-duty markets as well.

The Federal Motor Carrier Safety Administration’s recently proposed rule mandating the use of electronic onboard recorders for habitual violators of federal hours-of-service regulations has set in motion an industrywide discussion about the plan’s merits.

WASHINGTON — Legislation proposed last week could allow federal weight limits for trucks to rise to 97,000 pounds and for the first time set fuel-efficiency standards for trucks.