The U.S. economy contracted at a 32.9% annual rate in the second quarter, as new jobs data suggested a slowing recovery. (WSJ)
The eurozone’s gross domestic product fell 40.3% annually, but the continent’s strategy of containment coupled with aggressive stimulus is fanning hopes of a robust recovery. (WSJ)
Mexico's economic output sank at the steepest pace on record in the second quarter. (WSJ)
Amazon’s quarterly sales jumped 40% to $88.9 billion and profits doubled to a record $5.2 billion on big gains in e-commerce and cloud-computing. (WSJ)
Apple’s quarterly sales rose a better-than-expected 11% as iPhone sales held firm. (WSJ)
Old Dominion Freight Line says less-than-truckload volumes improved from month to month during a second quarter that included a 15% drop in revenue. (WSJ)
Truckload carrier Schneider National’s second-quarter net profit fell 23% to $47.6 million. (WSJ)
Airbus expects to keep its aircraft production rates at diminished levels until at least 2022. (WSJ)
Volkswagen lost $1.9 billion in the second quarter on a 37% drop in revenue. (WSJ)
China’s Huawei Technologies became the world’s top seller of smartphones. (WSJ)
Sales at household staples supplier Procter & Gamble rose at the fastest annual pace since 2006. (WSJ)
Comparable sales at food maker Kraft Heinz rose 7.4% in the second quarter. (WSJ)
Food-delivery company Grubhub’s second-quarter profit contracted even as sales soared 41% to $459 million. (WSJ)
Royal Dutch Shell warned it could curtail production after the oil giant swung to a heavy second-quarter loss. (WSJ)
Dining chain California Pizza Kitchen filed for chapter 11 bankruptcy protection. (WSJ)
Walmart-owned Indian e-commerce retailer Flipkart will launch a service promising 90-minute delivery of groceries and other items. (livemint)
Women’s apparel chain Coldwater Creek is shutting down. (Sourcing Journal)
Snack supplier Mondelez International will cut its product assortment by about 25% to reduce cost and complexity in its supply chain. (Supply Chain Dive)
Private-equity group Blackstone will buy four logistics facilities in Japan from Daiwa House Industry for $523 million. (Nikkei Asian Review)
US Foods warehouse workers and delivery drivers in Arizona are threatening to strike over claims the food service supplier isn’t enforcing Covid-19 safety precautions. (Arizona Republic)
Container ship brokers are reporting “brisk business” as increasingly confident ocean carriers seek more charter capacity. (The Loadstar)
The ratio of container ship orders to the existing fleet fell to the lowest level in more than 20 years. (Splash 247)
Florida’s Port Manatee and Port of Tampa Bay are both expanding container facilities. (Maritime Executive)
An Oregon dairy resumed delivering milk to homes for the first time in 40 years. (Business Journals)
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