Business

Volkswagen AG has boosted its stake in German truck maker MAN AG to 29.9% from 20%, as part of an effort to create Europe’s largest truck maker in a combination including Swedish competitor Scania AB, Bloomberg reported Tuesday.

Durable goods orders posted their biggest decline in three months, falling 7.8% in January, the Commerce Department reported Tuesday.

Volvo AB has agreed to buy Ingersoll Rand Co.’s road building-equipment unit for $1.3 billion, in a deal that would make it the world’s third-largest maker of construction equipment, Bloomberg reported Tuesday.

Consumer confidence reached the highest level in five years, the New York-based Conference Board said Tuesday.

Existing home sales rose 3% in January, the National Association of Realtors said Tuesday.

Union Pacific Railroad has laid off 124 people and cut back hours for 455 more because of lower freight demand, the Associated Press reported, and a market analysis firm Monday lowered its market outlook for the rail sector.

Canadian transportation firm TransForce Income Fund said Monday it earned C$55.1 million or 64 cents a share in the fourth quarter, up from C$35.9 million or 47 cents a year earlier.

Gasoline prices jumped almost 13 cents a gallon nationwide in the past two weeks, as the price of crude oil rose, according to the latest Lundberg Survey of filling stations, released Sunday.

UNIVERSAL CITY, Calif. — An official with the Chicago Climate Exchange said the demand for cleaner engines and alternative fuels in the United States will increase as membership in its cap-and-trade emission trading system expands.

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