Government

President Obama said during his State of the Union address that the federal government should “redouble” its efforts to upgrade the nation’s infrastructure, a message met with praise from industry and labor groups.

More than two dozen retail and shipper organizations, including the National Industrial Transportation League and the National Retail Federation, have urged congressional leaders to advance legislation that repeals the antitrust immunity that ocean liner carriers have enjoyed since 1916.

U.S. gross domestic product rose at a 3.2% annual rate in the fourth quarter, following a 2.6% expansion in the third quarter, the Commerce Department said Friday.

Consumer confidence slipped in January from a six-month high in December, according to the Thomson Reuters/University of Michigan consumer sentiment index released Friday.

Kansas City Southern said it earned $51.8 million, or 50 cents a share, in its fourth quarter, compared with $32.3 million, or 34 cents, the previous year.

The U.S. Chamber of Commerce and the AFL-CIO released a joint statement Wednesday praising President Obama’s stance on boosting U.S. infrastructure in his State of the Union address Tuesday night.

President Obama in his State of the Union speech Tuesday called for more investments in infrastructure even as he urged a partial freeze in federal spending to rein in the U.S. deficit.

Carol Browner, the Obama administration’s top adviser on energy and climate issues, plans to step down from her position, the Associated Press reported, citing White House officials.

Consumer confidence hit its highest level in eight months in January, the New York-based Conference Board reported Tuesday.

The International Monetary Fund boosted its forecast for global economic growth this year, reflecting stronger U.S. output based on tax-cut extensions and higher growth in emerging economies, Bloomberg reported Tuesday.