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The U.S. economy contracted at an annual rate of 5.5% in the first quarter, a better reading than two previous estimates, the Commerce Department said Thursday.

Initial jobless claims rose by 15,000 last week, the Labor Department said Thursday.

The Federal Reserve voted Wednesday to keep a key U.S. interest rate at a record low “target range” of zero to 0.25%.

Ryder System said it has been certified as a third-party logistics provider in the Custom-Trade Partnership Against Terrorism program, an initiative that seeks to promote supply chain security and reduce border vulnerabilities.

New home sales fell 0.6% in May, the Commerce Department said Wednesday.

At one time or another, every business finds itself undercapitalized. Unfortunately, in these tough economic times, qualifying for a line of credit can be extremely difficult. As a result, increasing numbers of transportation companies are looking into factoring, with many of them taking the plunge and selling their accounts receivable to a factor.

Durable goods orders rose 1.8% in May, matching April’s increase, the Commerce Department said Wednesday.

Velocity Express Corp. said it has sent a conditional letter of intent to acquire control of the company from a management buyout group led by Chairman and Chief Executive Officer Vincent Wasik.