U.S. consumer spending fell a record 13.6% in April. (WSJ)
China’s economic recovery hit a speed bump in May as the pandemic began curbing the world’s demand for goods. (WSJ)
Economic output in Brazil, Turkey and India is expected to fall this year, reversing an historic run in growth among developing-world countries. (WSJ)
Canada’s economic output fell at a record 8.2% rate in the first quarter. (WSJ)
French auto maker Renault plans to slash production capacity by a fifth and cut more than 14,000 jobs around the world. (WSJ)
The American semiconductor industry is seeking billions of dollars in federal funding for factory building and research. (WSJ)
A national meat-supply crunch driven by the pandemic is beginning to ease, though meat and grocery suppliers expect the effects to linger for months. (WSJ)
Costco Wholesale’s quarterly sales rose 7.8% but sales fell in April for the first time in more than a decade. (WSJ)
Nordstrom cut its inventories by about 25% from a year ago, helping mitigate the impact of a 40% drop in quarterly sales. (WSJ)
Amazon CEO Jeff Bezos is taking part in a Series A funding round for British digital freight forwarding startup Beacon. (Financial Times)
CVS Healthcare and self-driving car startup Nuro will test delivery of prescriptions in Houston using autonomous vehicles. (CNBC)
Boeing planners are divided over whether to keep the 747 freighter production line active beyond the current orders. (Flight Global)
DHL Supply Chain is closing two distribution centers in the U.K. and cutting hundreds of logistics jobs. (Motor Transport)
About half of executives in a survey say their businesses will make changes in their supply chains because of the Covid-19 pandemic. (Modern Materials Handling)
South Korea has added more than $1 billion in financial support for the country’s ailing shipyards. (Lloyd’s List)
Spot container shipping rates from Asia to the U.S. West Coast are surging amid tighter capacity. (The Loadstar)
U.K. freight rail volumes fell to the lowest level in 23 years over the past year as coal traffic fell 41%. (RailFreight)
French logistics firms say productivity at their companies has declined about 15% under the pandemic. (Lloyd’s Loading List)
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