NEW YORK — CSX Corp., the nation’s third-largest railroad, said Tuesday the economy improved modestly in the fourth-quarter, but its shipping volume dropped from a year ago as demand for coal to produce electricity remained weak.
COLUMBIA, S.C. — Navistar Inc. has acquired from Holley Performance Products Inc. rights to some of Holley’s valve technology for diesel engine exhaust-gas recirculation systems. Pure Power Technologies LLC, a Navistar company, will manufacture the advanced EGR valve at its Blythewood, S.C., plant.
ANN ARBOR, Mich. — Con-way Freight has launched a major network re-engineering that will cut transit times by one day to 460 U.S. destinations, while decreasing the company’s carbon footprint, the less-than-truckload carrier reports. The initiative is also designed to reduce re-handling and service exceptions and improve on-time delivery. Major lanes affected include those between Southern Texas and the Northeast, Chicago and Southern Florida, and Chicago and Southern Texas.
TOKYO — The head of the IMF said China and other developing Asian economies are leading a global recovery that is faster and stronger than expected, but warned that money rushing into emerging markets could lead to asset bubbles.