Heavy-equipment maker Caterpillar Inc. said it is selling a majority stake in its third-party logistics business to Platinum Equity for $750 million.

Logistics firm Expeditors International of Washington said its first-quarter profit declined from a year ago as air freight volumes fell.

New orders for trailers continued at a strong pace in March, despite dropping 30% from a year ago, ACT Research Co., Columbus, Ind., reported, adding that total orders for the first quarter were down just 1% from the strong performance in the first three months of 2011.

MISSISSAUGA, Ontario — Swift Transportation Inc. opposes the trucking industry’s lobbying efforts toward allowing heavier trucks on interstate highways in the United States, the company’s CEO told a gathering of Canadian trucking executives.

Canadian transportation firm TransForce Inc. said its first-quarter profit improved, boosted by acquisitions.

Consumer confidence rose in April to the highest level in a year, according to the Thomson Reuters/University of Michigan consumer sentiment index released Friday.