Economists expect jobless claims to have remained at historically high levels last week. (WSJ)
Consumer confidence in the eurozone fell by the largest amount on record. (WSJ)
Canada’s annual inflation rate slowed in March in the biggest deceleration in nearly 14 years. (WSJ)
South Korea’s economic growth in the first quarter contracted by 1.4%, the steepest pace since the financial crisis. (Dow Jones Newswires)
Offshore oil drillers have begun shutting off wells in the U.S. Gulf of Mexico following a collapse in crude prices. (WSJ)
Tyson Foods is suspending operations at its pork-processing facility in Waterloo, Iowa, in another blow to U.S. pork production. (WSJ)
Delta Air Lines swung to its first quarterly loss in five years. (WSJ)
Sycamore Partners wants to scrap plans to take control of Victoria’s Secret, in a legal test of whether the coronavirus pandemic allows a buyer to walk away from an agreement. (WSJ)
Oil-field services firm Baker Hughes is cutting jobs and reducing capital spending by 20%. (WSJ)
Volkswagen has created an internal website with advice for its parts suppliers on how to protect workers from Covid-19 infections. (WSJ)
Toyota Motor will cut its May auto production roughly to half of what it had projected a month ago. (Nikkei Asian Review)
Macy’s plans to use its inventory and real estate as collateral for a $5 billion loan to help the retailer avoid bankruptcy protection. (Sourcing Journal)
Prologis granted rent deferrals to 7% of the logistics property owner’s tenants who have sought relief. (TheRealDeal)
CSX’s first-quarter profit fell a less-than-expected 9% but the freight railroad withdrew its financial forecasts and said it is evaluating future spending. (Reuters)
Canadian Pacific’s first-quarter revenue rose 16% to a record level and its operating ratio hit a best-ever 59.2%. (Progressive Railroading)
China State Shipbuilding will build the first of dozens of liquefied natural gas carriers Qatar Petroleum expects to order in coming years. (Lloyd’s List)
Ocean freight forwarders say shipping lines are still imposing fuel surcharges even as oil prices have plummeted. (The Loadstar)
Container line APL is withdrawing from most trade lanes to focus on trans-Pacific services. (Journal of Commerce)
Paccar’s first-quarter sales and revenue fell sharply but strength in the parts division helped the truck maker boost net profit 3%. (Transport Dive)
Grounded freight airline CargoLogicAir plans to resume flying with two 747 freighters. (Air Cargo News)
A measure of confidence in the equipment leasing and finance sector fell to a historic low this month. (Modern Materials Handling)
Electric truck company Nikola Motor received $4.1 million from the Paycheck Protection Program as it awaits a merger valuing the business at $3 billion. (CNBC)
|