Transportation
Avis Budget Group reported second-quarter net income of $29 million, reversing the $2 million loss from a year earlier
. U.S domestic car rental revenue declined 5 percent on 6 percent fewer rental days and marginally lower average daily rates. Non-U.S. car rental revenue jumped 16 percent on a 13 percent increase in average daily rate. CEO Ron Nelson told analyst that commercial pricing during the quarter was "flat" versus last year. "Large $1 million-plus accounts just aren't getting very significant price increases, if any," he said.