Business

Morgan Stanley said Thursday it plans to acquire an 80% interest in the Port of Montreal, the third-largest container port in North America.

Crude oil closed at more than $60 a barrel for the first time this year Wednesday, while the Department of Energy reported Thursday that inventories of both gasoline and distillate fuel saw big decreases last week.

Universal Truckload Services earned $5.3 million or 33 cents a share in the fourth quarter, up from $4.7 million or 29 cents a year earlier.

Initial jobless claims fell last week by 27,000 following a big increase the previous week, the Labor Department said Thursday.

Deutsche Post AG, parent of DHL Americas, reported a 14% drop in its 2006 profit after it reduced its stake in the Deutsche Postbank financial-services unit, Bloomberg reported Thursday.

WASHINGTON — Leading members of the House Subcommittee on Transit and Highways from both parties sharply criticized the Department of Transportation’s recent push toward privatization and public-private partnerships.

Swedish truck maker Scania AB has reached agreement to buy a Swedish component plant owned by General Motors Corp., Bloomberg reported Wednesday.

Federal Reserve officials, as they have in previous meetings, said inflation was their top concern at their meeting in late January, according to the minutes of the meeting released Wednesday.

An index of leading economic indicators rose for a second straight month in January, climbing 0.1%, the New York-based Conference Board reported Wednesday.

The average national retail price of diesel fuel rose 1.5 cents to $2.491 a gallon, the Energy Department reported Tuesday.