Business

The U.S. economy expanded at a 3.5% annual rate in the fourth quarter, the Commerce Department said Wednesday, the strongest since last year’s first quarter.

The Surface Transportation Board ruled that freight railroads not calculate their fuel surcharges as a percentage of their base rates.

Transportation and logistics firm C.H. Robinson Worldwide's 2006 net income rose to $266.9 million or $1.53 a share, up from $203.4 million or $1.16 in 2005.

President Bush on Tuesday warned against erecting global trade barriers during a visit to heavy-duty engine manufacturer Caterpillar’s East Peoria, Ill., headquarters, Bloomberg reported.

Crude oil futures posted their biggest one-day gain Tuesday since September 2005, rising on forecasts of continuing cold weather and expectations of a stronger U.S. economy, Bloomberg reported.

UPS Inc. reported its fourth-quarter net income rose 7.5% to $1.13 billion or $1.04 a share, up from $1.05 billion or 95 cents a year earlier.

Transportation firm Con-way Inc. earned $82.4 million or $1.66 a share in the fourth quarter, up from $49.9 million or 90 cents a year earlier.

The average retail price of diesel fuel fell 1.7 cents to $2.413 a gallon, the Energy Department reported Monday.

U.S. consumer confidence approached a five-year high this month, the New York-based Conference Board reported Tuesday.

Heavy-duty truck maker Paccar said Tuesday its fourth-quarter profit rose 22% to $380.5 million or $1.52 a share, from $312.9 million or $1.22 a year earlier.