Logistics

Norfolk Southern Corp. became the only U.S. railroad to report higher third quarter earnings, improving net income 2% to $460 million, or $1.55 per share, as cost reductions of 10% outpaced a decline in revenue.

Consumer confidence declined more than forecast in October, as households became less upbeat about the economy and labor market, figures from the New York-based Conference Board showed Oct. 25.

Swift Transportation reported profits were up 4.7%, one of the few bright spots so far in the industry for the third quarter, and the company said it was the result of cutting expenses to deal with the challenging truckload environment.

When the Marie Schulte rounds the breakwater off the Chinese port of Qingdao in early November, bankers on two continents will be watching anxiously.

Hanjin Shipping Co., South Korea’s largest container line that has put its Asia-U.S. business on sale after filing for bankruptcy protection in late August, won approval from a court to wind down its European operations as demand for its services to the continent slumped.

Trailer orders in September fell below 13,000 as the market continues to adapt and reshape itself after a banner 2015, analysts said.

XPO Logistics Inc. and Hewlett Packard Co. plan to lay off about 70 employees in Iowa on Oct. 31 after the two companies ended a contract and parted ways.

Union Pacific Corp. net income slipped 13% to $1.13 billion, or $1.36 per share, hurt by lower intermodal and other freight volume and weaker pricing.