Business briefing

Tens of thousands of personal vehicles were inundated by floodwaters caused by Hurricane Harvey or smashed by wind-tossed objects, creating a huge demand for rentals that has put the cars in painfully short supply in the Houston area and across eastern Texas.
One car-rental office in Houston reported a waiting list of 2,500 names, and another more out-of-the-way location had about 300 reservations pending.
Rental companies say they are bringing in more vehicles from areas including the Southeast, but the logistics problems left by Harvey could get worse as Hurricane Irma threatens Florida.
Auto industry experts estimate as many as 1 million vehicles were damaged by Harvey, with most being total losses. State Farm, one of the largest U.S. auto insurers, said it has already received nearly 20,000 claims from the Houston area alone.
Enterprise Holdings — which includes the Enterprise, National and Alamo car rental brands — said it has already moved more than 4,000 vehicles to southeast Texas and plans to bring in at least 17,000 more in coming weeks.
The Avis Budget Group said it also was moving additional vehicles into the affected areas
Lego to rebuild after sales slip
For Lego, it’s time to break down the blocks and start again.
After building up sales aggressively since a near bankruptcy in 2004 through new ventures like films and new toy lines, the company seems to have hit a peak. Its sales are now falling for the first time in 13 years and it says it needs to simplify its operations.
That means cutting 1,400 jobs, or eight percent of its workforce.
The privately held Danish firm said a new CEO would take over in October.
Revenue dropped 5 percent in the first six months of the year, to $2.4 billion, mainly as a result of weaker demand in the U.S. and Europe, where sales had risen strongly for years. Profits slipped 3 percent to $544 million.
July factory orders fall 3.3%
Orders at U.S. factories tumbled in July, dragged down by a sharp fall in orders for civilian aircraft.
The Commerce Department said Tuesday that factory orders declined 3.3 percent in July, after a 3.2 percent gain in June. July’s decline was mostly because of a 19.2 percent drop in orders in the volatile transportation equipment category. Orders for civilian aircraft — which can vary wildly from month to month — tumbled 70.8 percent in July after a 129.3 percent gain last month.
Excluding the transportation sector that includes aircraft, factory orders rose 0.5 percent in July after a tiny 0.1 percent uptick in June.
THE BOTTOM LINE


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