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DUBAI, United Arab Emirates — Saudi Arabia said Aug. 3 it will extend its production cut of 1 million barrels of oil a day through the end of September in its effort to boost energy prices.

Profits at Cummins Inc. rose to $720 million in the second quarter of 2023 from $702 million in the year-ago period on the back of a jump in sales, including at newly acquired Meritor.

Schneider National Inc. announced that it is acquiring dedicated contract carrier M&M Transport Services.

Spot rates for shipping containers jumped by the most in more than two years, a sign that a 16-month slump in ocean freight costs that helped ease the sting of goods inflation is over.

BMW AG is stepping up spending on its electric car rollout after the luxury carmaker’s battery-vehicle deliveries more than doubled during the first half of the year.

Electric-car charging company EVgo Inc. said CEO Cathy Zoi will retire in November and be succeeded by board member Badar Khan.

Lower freight rates, a moderation in brokerage gross margin and the cost of operating as a stand-alone public company hurt profits at RXO Inc. in the second quarter of 2023.

Profits at TFI International Inc. more than halved in the second quarter of 2023 to $128.2 million from $276.8 million in the year-ago period, the company said.

WASHINGTON — The Biden administration is delaying plans to restock the nation’s emergency oil reserve amid a price hike that has pushed oil above $80 a barrel.

Amazon has begun offering its Fresh grocery delivery service to customers who aren’t Prime members.