Surveys show business activity across the U.S., Europe and Japan collapsed in April under tightening coronavirus-driven restrictions. (WSJ)
American workers have filed more than 26 million unemployment insurance claims in the past five weeks. (WSJ)
A sharp rise in oil prices extended a period of outsize moves in global energy markets. (WSJ)
Mexico’s inflation pulled back from March to April. (WSJ)
Daimler’s first-quarter earnings fell 80% and operating earnings at Daimler Trucks fell by nearly half to $266 million. (WSJ)
Renault is negotiating for billions in state-backed loans as the French automaker starts to reopen plants world-wide. (WSJ)
J.C. Penney is in advanced talks for bankruptcy funding with a group of lenders. (WSJ)
Gap says it has burned through half its cash savings after drawing down its entire credit line and skipping April rent payments. (WSJ)
Target’s sales from stores weakened significantly in late March and early April, while online sales surged. (WSJ)
Instacart plans to add 250,000 workers over the next two months after hiring 300,000 since March. (WSJ)
Hershey sales rose 11% in the four weeks ending April 4, far behind the national average growth for food sales in stores. (WSJ)
Borden Dairy and Dean Foods bondholders want to merge the two bankrupt dairy companies. (WSJ)
Hormel Foods will pay new cash bonuses of more than $7 million to plant production workers in July. (Dow Jones)
U.S. consumers are buying more eco-friendly cleaning products as traditional mass-market goods disappear in picked-over stores. (WSJ
Amazon Chief Executive Jeff Bezos has reclaimed oversight of much of the company’s day-to-day operations. (New York Times)
Daimler Trucks resumed production at its heavy-duty truck plant in Portland, Ore. (The Oregonian)
Truckload carrier Knight-Swift Transportation’s first-quarter earnings fell 25.6% to $65.4 million on a 6.6% drop in revenue to $1.12 billion. (Transport Dive)
Trucker Old Dominion Freight Line’s profit and revenue ticked down slightly as stronger pricing helped offset lower shipment volume. (Winston-Salem Journal)
Clipper Bulk is cutting landside office jobs on “historically low” dry bulk shipping demand. (Lloyd’s List)
Declining oil prices have left low-sulfur marine fuel in the U.S. cheaper than high-sulfur fuel. (ShippingWatch)
Food distributor Sysco created a pop-up grocery store at a parking lot in Bonita Springs, Fla. (Fort Myers News-Press)
|