Business

Ford Motor Co. lost $5.8 billion in the fourth quarter amid slumping sales and huge restructuring costs, pushing the No. 2 U.S. automaker’s s loss for the year to $12.7 billion, the largest in its 103-year history, the Associated Press reported.

First-time U.S. jobless claims rose by 36,000 last week to 325,000, the Labor Department said Thursday.

Wireless-services provider Qualcomm Inc. said late Wednesday its fiscal first-quarter profit rose to $648 million or 38 cents a share, up from $620 million or 36 cents a year earlier.

Truckload carrier Knight Transportation said late Wednesday that its revenue and income for the fourth quarter and full-year 2006 reached records.

Truckload carrier Celadon Group said late Wednesday it earned $6.1 million or 26 cents a share in its fiscal second quarter ended Dec. 31, up from $4.8 million or 21 cents in the same quarter a year earlier.

Arkansas Best Corp.’s fourth-quarter net income fell to $14.2 million or 56 cents a share, from $30.2 million or $1.20 a year earlier, the company said Wednesday.

President Bush outlined an energy plan Tuesday that would boost the use of alternate fuels such as ethanol and biodiesel, and would seek a 20% reduction in gasoline use in the next 10 years, news services reported.

Eastern freight railroad Norfolk Southern Corp. said Wednesday its fourth-quarter profit rose 6%, as record revenue from coal shipments offset declines in intermodal shipments.

Canadian freight railroad Canadian National Railway Co. reported its fourth-quarter net income rose 16% to C$499 million, with earnings-per-share rising to 95 cents.

The Transportation Department’s recent proposal to use electronic onboard recorders to monitor driver hours is “weak” and ineffective, safety advocacy groups said last week, while some trucking industry organizations applauded the plan.