The Congressional Budget Office projects the U.S. economy will shrink 12% in the second quarter. (WSJ)
Overall orders for durable goods in the U.S. fell 14.4% in March. (WSJ)
A new round of Brexit trade talks hit early troubles as negotiators accused each other of being inflexible. (WSJ)
President Trump said he plans to use a coronavirus-relief law as leverage to force the U.S. Postal Service to raise rates for package delivery. (WSJ)
Several national retail chains say they will sit out the early phase of reopening in some states, citing health concerns and uncertain customer demand. (WSJ)
The cost of credit insurance is rising, in a sign of potential strains in trade finance markets. (WSJ)
Boeing has dropped plans to take control of the jetliner business of Brazil’s Embraer. (WSJ)
Adidas reported a 95% plunge in profit as the coronavirus pandemic forced world-wide store closures. (WSJ)
The U.S. Postal Service has started shipping trans-Atlantic mail by ocean because of limits on air cargo capacity. (Supply Chain Dive)
April volumes at truckload carrier Landstar System have fallen 20% to 30%. (Transport Dive)
Kohl’s canceled $100 million in apparel orders the department store had placed with suppliers. (Sourcing Journal)
Amazon Business may become the top U.S. industrial distributor by sales volume by next year. (Modern Distribution Management)
Floating storage crude volumes on tankers have grown 37% in two months, including use of 59 very large crude carriers. (Lloyd’s List)
Some major container shipping lines are skipping Indian port calls as the country’s lockdown triggers port congestion. (Indian Express)
Global Container Terminals is suing to block Maersk Line from shifting its New York operations to Maersk sister company APM Terminals. (Splash 247)
Another season of dry weather is hampering freight barge operations on Germany’s Rhine River. (Bloomberg)
State-backed lenders are extending $2.35 billion in aid for Korean Air Lines and Asiana Airlines. (Nikkei Asian Review)
Amazon plans to build a 1.2 million-square-foot distribution center in University Park, Ill., south of Chicago. (Chicago Tribune)
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