Norfolk Southern Corp. on July 27 posted record second-quarter financial results that beat the expectations of Wall Street analysts.

A breakthrough deal between Sens. Chuck Schumer and Joe Manchin includes the extension of a popular consumer tax credit for the purchase of electric vehicles, a big win for EV makers such as General Motors Co., Tesla Inc. and Toyota Motor Co.

WASHINGTON — The U.S. economy shrank from April through June for a second straight quarter, contracting at a 0.9% annual pace and raising fears that the nation may be approaching a recession.

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

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.

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

The average retail price of a used Class 8 fell for the third consecutive month in June, ACT Research reported, calling the trend a significant downturn even as the average retail price remained above $90,000.

UPS Inc. posted better-than-expected second-quarter earnings July 26, thanks in part to a big leap in the price of domestic parcel revenues during the three-month period that ended June 30.

Canadian e-commerce firm Shopify Inc. will cut about 10% of its workforce July 26, as Chief Executive Officer Tobi Lutke acknowledged the company’s decision to expand rapidly coming out of the COVID-19 pandemic didn’t pay off.