Surveys of purchasing managers suggest economic output is contracting at a slower pace in the U.S., Europe and Asia. (WSJ)
German business sentiment rose in June, beating forecasts, and France saw sentiment in its manufacturing sector rise for the second consecutive month. (Dow Jones Newswires)
Amazon is launching a $2 billion internal venture-capital fund focused on technology investments to reduce the impact of climate change. (WSJ)
Mall owners Simon Property Group and Brookfield Property Partners are teaming up to explore a bid for bankrupt retailer J.C. Penney. (WSJ)
Global Infrastructure Partners and Brookfield Asset Management joined a consortium investing $10 billion in gas pipelines operated by the United Arab Emirates’ national oil company. (WSJ)
A distressed energy-trading company overstated its assets by more than $3 billion, while its founder oversaw years of disastrous bets on oil derivatives, a report filed with a Singapore court said.
A Missouri court reduced the damages Johnson & Johnson owes in a suit over its talcum powder by more than half to $2.1 billion. (WSJ)
The Trump administration is weighing new tariffs on Canadian aluminum over concerns about a surge in exports to the U.S. (New York Times)
Foxconn Technology Group is stepping up investments in India and Taiwan as it diversifies away from China. (Nikkei Asian Review)
Walmart is testing autonomous vehicles from startup Gatik in “middle-mile” transport between large distribution centers and smaller warehouses. (BNN Bloomberg)
South Korea’s Hyundai Heavy Industries will merge its shipbuilding and offshore operations in a restructuring that will cut its size by one fifth. (Splash 247)
Freight derivative volumes in the dry-bulk transport market are at their highest level in nearly 12 years. (Lloyd’s List)
Clarksons estimates ship owners could cancel hundreds of orders for emissions scrubber retrofits because of lower fuel prices. (Ship & Bunker)
Amazon plans to place two 885,000-square-foot distribution centers in suburban communities south of Chicago. (WBBM)
Latin American e-commerce group MercadoLibre is adding a third fulfillment center in Brazil. (Reuters)
Alibaba logistics unit Cainiao will invest $141 million in improvements aimed at speeding up goods delivery. (South China Morning Post)
Freight forwarder DSV Panalpina expects ocean freight demand to fall 15% to 20% in the second quarter and airfreight demand to decline 25% to 30%. (ShippingWatch)
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