Cosco Shipping Holdings Co. Ltd’s unit Orient Overseas (International) Ltd. will sell the Long Beach Container Terminal in California to a consortium led by Macquarie Infrastructure Partners for $1.78 billion. (WSJ)
A gauge of China’s factory activity weakened sharply. (WSJ)
U.S. consumer spending rose 0.9% in March, well ahead of personal income growth. (WSJ)
A closely watched measure of U.S. inflation rose 0.2% in March. (WSJ)
Alibaba Group Holding Ltd. has agreed to pay $250 million to resolve investor lawsuits over disclosures involving alleged counterfeit products sold on its platforms. (WSJ)
President Trump’s push to revamp North America’s trade rules is hitting a roadblock in Washington as Democrats and labor groups demand changes. (WSJ)
Foxconn Technology Group’s promised investment in a Wisconsin manufacturing plant has been slow to form, exacerbating tensions over state subsidies. (WSJ)
Anadarko Petroleum Corp. says it is considering Occidental Petroleum Corp.’s $38 billion offer, weeks after agreeing to be taken over by Chevron Corp. (WSJ)
Online pet products retailer Chewy Inc. filed for an initial public offering. (WSJ)
Chinese e-commerce business JD.com will invest $966 million in Thailand to boost its fresh food business. (Nikkei Asian Review)
A five-year contract between the United Parcel Service Inc. and the Teamsters union went into force. (Logistics Management)
Falcon Transport Co. abruptly shut down its 900-truck fleet, which had served a shuttered General Motors Corp. plant. (Youngstown Vindicator)
Uber Freight integrated its digital-broker technology into the transportation management system at the SAP enterprise software platform. (Journal of Commerce)
Cosco Shipping Holdings posted a $102 million net profit in the first quarter. (The Loadstar)
Shifts in global grain supply chains are boosting business for dry bulk shipping companies. (Lloyd’s List)
German shipping business Zeaborn moved into the tanker business with the acquisition of CPO Tankers. (Shipping Watch)
China will invest $3.4 billion in logistics operations in Dubai. (Seatrade Maritime)
Rail supplier Wabtec Corp. named Rafael Santana chief executive to replace the retiring Ray Betler. (Railway Age)
A fiery train derailment in Fort Worth, Texas, will give regulators a chance to examine how newer tanker cars hold up in accidents. (Fort Worth Star-Telegram)
Freight traffic at Asia-Pacific airlines declined 5.6% in the first quarter. (Air Cargo News)
The supplier of the Impossible Burger says demand for the vegetarian product is far outpacing supply. (Eater)
|