Business

WASHINGTON — The Federal Reserve’s favored inflation measure remained low last month, setting the stage for the Fed to begin cutting interest rates this fall.

Norfolk Southern got a boost during the second quarter from insurance payments related to last year’s disastrous derailment, but it also made progress on its own.

Cruise is targeting a return to running fully autonomous rides later this year and possibly charging fares by early 2025, said people familiar with the matter.

Temperature-controlled storage and logistics giant Lineage Inc. shares climbed as much as 5.4% in its debut as a public company after raising about $4.4 billion in the year’s largest IPO.

A timeline for a rebound in freight rates and market conditions remains muddy into the second half of 2024, according to executives and analysts.

Daimler Truck’s battery-electric vehicle ambitions took another step forward as the world’s largest truck maker opened a center devoted to developing battery expertise in Germany.

Vice President Kamala Harris has committed to continue pursuing policies the current administration initiated three years ago should she win the November presidential election.

DOT drug testing of truck drivers using oral fluid collections was approved more than a year ago, but a lack of certified lab testing facilities  has stalled use of the method.

Knight-Swift Transportation Holdings reported July 24 that revenue reached just shy of $2 billion in the second quarter of 2024. The Phoenix-based carrier posted net income attributable to itself of $20.3 million.

Covenant Logistics Group experienced an increase in revenue but a slight decline in earnings during the second quarter of 2024, the company reported July 24.