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Supreme Court justices listened to arguments on Wednesday. DANA VERKOUTEREN via AP
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Supreme Court justices expressed skepticism about President Trump’s global tariffs during a nearly three-hour hearing about his authority to impose sweeping measures on countries around the world.
The Trump administration's top lawyer faced sharp questioning, including from some members of the court’s conservative wing. Lawyers representing tariff challengers were also pressed by some justices on what kind of limitations courts could impose on core presidential powers. The nine justices are weighing whether the president lawfully invoked his authority under a 1970s emergency-powers law to levy the tariffs without Congress's approval, as well as a set of tariffs related to fentanyl.
While a decision isn't expected immediately, questioning during the argument suggested that the tariffs may not survive the challenge—which would force the Trump administration to rely on other authorities to deploy levies. The justices gave little indication how they might unwind Trump’s signature economic policy if the court were to strike down the tariffs.
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Trump endorsed additional trade talks with Switzerland after an Oval Office meeting with Swiss executives, including the heads of Mediterranean Shipping Co. and Rolex. (Bloomberg)
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Cencora—formerly known as AmerisourceBergen—is one of the largest drug distribution companies in the U.S. PHOTO: CENCORA
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Pharmaceutical distributor Cencora will invest $1 billion in its U.S. supply chain as demand soars for medications that need special handling and refrigeration.
The WSJ Logistics Report’s Liz Young writes that the company–formerly called AmerisourceBergen–plans over the next five years to open two new distribution centers and expand an existing warehouse that handles specialty drugs. Half of new medicines hitting the global market from 2023 to 2027 are expected to require cold storage, up from 37% of products launched between 2013 and 2017, according to healthcare research firm IQVIA.
Cencora also said its revenue grew about 6% to $83.7 billion for the quarter ended Sept. 30, which the company attributed in part to increased sales of GLP-1s and other specialty medications.
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24,300
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Net orders of Class 8 heavy-duty trucks and tractors in October, up 18% from the previous month but down 22% from a year earlier, the 10th straight month of annual declines, according to FTR
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U.S. private-sector jobs increased by 42,000 in October, exceeding expectations and rebounding from previous declines, ADP said. (WSJ)
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U.S. services-sector activity returned to growth, as new orders accelerated despite concerns among firms about the government shutdown and tariffs, a monthly survey said. (WSJ)
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German manufacturing orders and industrial production in France rebounded in September, signaling a recovery after trade uncertainty dented demand. (WSJ)
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Canadian Pacific Kansas City reached 13 new tentative collective agreements with labor unions in the U.S. (Dow Jones Newswires)
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Matson said lower rates and container volumes on its China service pressured third-quarter ocean shipping income, but the U.S. carrier’s results beat expectations, boosting shares. (Dow Jones Newswires)
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Toyota Motor reported higher profit and raised its sales and earnings guidance, signaling its ability to withstand the expected $9 billion blow from U.S. tariffs. (WSJ)
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Bunge Global’s net income fell on foreign-exchange losses but sales surged as the acquisition of grains firm Viterra allowed it to avoid some rivals’ travails in the soybean business. (WSJ)
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Denmark’s Orsted booked a loss in the third quarter, which was hit by a stoppage to a major U.S. wind project, but stuck by its full-year targets. (WSJ)
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Vestas Wind Systems narrowed its full-year guidance, posted earnings that beat expectations and launched a $172 million share buyback. (WSJ)
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Amazon demanded that Perplexity stop allowing its AI browser agent to make purchases on the e-commerce giant’s site, prompting the AI startup to accuse Amazon of bullying. (Investor’s Business Daily)
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Mediterranean Shipping Co. became the first containership carrier to have a fleet with capacity of more than 7 million 20-foot-equivalent units. (TradeWinds)
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The U.S. Coast Guard issued requests for information from U.S. and allied shipbuilders seeking designs for icebreakers to modernize its aging fleet. (gCaptain)
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A federal judge in Rhode Island ruled the Trump administration can’t withhold transportation funding to states that don’t cooperate with immigration enforcement. (Politico)
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U.S. containerboard output fell 3.1% in the third quarter from a year earlier and was down 3% compared with the first nine months of 2025, according to the American Forest & Paper Assoc. (Recycling Today)
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