Business

Housing starts slumped in August after reaching the highest level in almost seven years, pointing to an uneven pickup in the U.S. residential real-estate market that will limit its contribution to economic growth.

The number of Americans filing applications for unemployment benefits plunged last week to a two-month low, a sign the labor market continues to strengthen.

FedEx Corp. reported its fiscal first-quarter net income rose 24% to $606 million, or $2.10 per share, from $489 million, or $1.53, a year ago.

Attorneys for Penske Logistics said they plan to ask the U.S. Supreme Court to review an appellate court’s decision upholding a California law requiring employers to provide a paid 30-minute meal break for employees working more than five hours.

Quality Carriers Inc. said it has started a bulk rail intermodal service for North America because of capacity issues due to the driver shortage.

Peterbilt introduced a right-hand stand-up configuration for its Model 320 garbage truck, which the company says continues to gain in popularity.

Confidence among U.S. homebuilders rose in September to a nine-year high, showing the industry is gaining ground and will be a source of momentum for the economy.

OXON HILL, Md. — McLeod Software said its latest development efforts are aimed at enabling the “frictionless” flow of data to help its trucking and third-party logistics customers operate more efficiently and make better business decisions.

UPS Inc. said it plans to hire as many as 95,000 seasonal workers, an increase of nearly 75%, to handle increased peak season holiday shipments.

The latest DAT report of spot freight market activity showed a 32% increase in freight volume in August from last year.