Business

Old Dominion Freight Line set records for revenue and profitability during the second quarter of 2022, the company reported July 27.

DETROIT — Ford Motor Co.’s net income rose 19% in the second quarter as the company pulled together enough computer chips to boost factory output and sales.

Apple Inc. has enlisted one of Lamborghini’s top car-development managers in a sign that it’s stepping up work on a self-driving electric vehicle, according to people with knowledge of the situation.

Union Pacific, the second-largest U.S. railroad, is spending $1 billion to modernize 600 trains.

WASHINGTON — The Federal Reserve on July 27 raised its benchmark interest rate by a hefty three-quarters of a point for a second straight time in its most aggressive drive in three decades to tame high inflation.

The Senate on July 27 passed legislation that includes $52 billion in grants and incentives for U.S. semiconductor manufacturing, an industry that has steadily lost ground to foreign competitors in recent years.

Operations at the Port of Oakland have resumed after being paused in the wake of protests from independent truck drivers unhappy with a state law that would reclassify them as employees of motor carriers.

The 22,000-member International Longshore and Warehouse Union and the Pacific Maritime Association jointly announced July 26 they have reached a tentative agreement on health care benefits.

OMAHA, Neb. — Railroads will be required to maintain two-person crews under a new rule announced July 27 that will thwart industry efforts to cut crews down to one person.

Canadian National reported record second-quarter earnings that beat the expectations of Wall Street analysts.