A United Parcel Service plane bound for Honolulu crashed late Tuesday shortly after taking off from Louisville, Ky.—the logistics giant’s main air-cargo hub—killing at least seven and injuring several others.

Kentucky Gov. Andy Beshear said several people with significant injuries were being treated at local hospitals. UPS hasn’t confirmed any casualties or injuries of its three-person crew onboard the MD-11 aircraft. The plane was carrying 38,000 gallons of fuel, Beshear said.

The Wall Street Journal’s Esther Fung and Christopher Otts report that two businesses close to the airport were hit: Kentucky Petroleum Recycling and Grade A Auto Parts, an auto-salvage yard. The nearby Ford Motor plant, which employs thousands of workers, wasn’t hit, but lost power for some time. The Federal Aviation Administration said it and the National Transportation Safety Board will investigate the crash.

The Supreme Court hears arguments today over President Trump’s unilateral decision to impose sweeping global tariffs. At stake are questions about presidential authority—and trillions of dollars—The Wall Street Journal’s Louise Radnofsky and Gavin Bade write.

Three sets of tariffs are in play: baseline tariffs of 10% on virtually all countries; steeper tariffs on countries the administration considers bad actors on trade; and an additional set of tariffs on Canada, China and Mexico, which the administration says are punishment for those countries not doing enough to prevent the flow of fentanyl into the U.S.

If the court rules the tariffs illegal, it is possible businesses could get their money back, though it isn’t clear whether or how that would be accomplished. Alongside the tariffs at issue here, Trump has imposed levies on autos, steel, aluminum and copper under a separate authority. Trump’s team has recently expanded the scope of those tariffs, providing a backstop if the broader tariffs are overturned.

• Ball Corp. said the U.S. accused it of underpaying tariffs on some of its imports, an allegation the aluminum packager said is without merit. (Dow Jones Risk Journal)

Caterpillar plans to double its capital expenditures for machinery, power and energy solutions, including gas turbines and large engines as it looks to accelerate sales growth. The Journal’s Dean Seal writes that the company is targeting sales to hit a compound annual growth rate of 5% to 7% between 2024 and 2030. That is up from 4% between 2019 and last year.

At its Investor Day, Caterpillar said it intends to triple its autonomous trucks in operation by 2030 compared with last year, when it had 690 worldwide. The company forecast global electricity demand to rise 43% between 2023 and 2035. Demand from data centers is expected to triple over that period, opening growth opportunities in primary and backup power equipment, distributed generation and grid support.

• Nippon Steel said its investments in U.S. Steel's plants and operations will more than triple the Pittsburgh steelmaker's profitability. (WSJ)
• Nippon Steel will produce high-grade steel used in U.S. data centers, with investment in new plant facilities to meet rising demand from tech companies. (Nikkei Asia)

• Canada said it intends to run wider deficits to finance spending and tax measures and unleash private-sector investment needed to rebuild amid protectionist U.S. actions. (WSJ)
• South Korea’s headline inflation accelerated at a faster-than-expected pace to a 15-month high in October, lifted by higher prices for agricultural and livestock products. (WSJ)
• The new management of First Brands sued founder Patrick James, alleging he enriched himself at the company’s expense. James denied wrongdoing. (WSJ)
• Norway’s sovereign-wealth fund, a major investor, rejected Elon Musk’s proposed $1 trillion Tesla pay package. (WSJ)
• Rivian Automotive recorded a 78% jump in third-quarter revenue as vehicle deliveries and average selling prices increased. (WSJ)
• Stellantis unit Chrysler is recalling some 320,000 hybrid Jeep Wrangler and Grand Cherokee vehicles in the U.S. over concerns that high-voltage batteries may fail and lead to a vehicle fire. (WSJ)
• TriMas agreed to sell its aerospace business for $1.45 billion to an affiliate of Tinicum, with funds managed by Blackstone to be a minority investor in the transaction. (WSJ)
• Expeditors International of Washington posted earnings and revenue ahead of analyst forecasts, with its air-cargo business benefiting from heavy investment on AI infrastructure. (Journal of Commerce)
• CMA CGM said it would register 10 new containerships under the French flag in the next three years. (Reuters)
• Ocean Network Express, or ONE, cut its full-year revenue and profit forecasts, saying in a presentation it expects new vessel deliveries, and uncertainty over tariffs and trade policies to affect market conditions.
• The Airforwarders Association warned that the U.S.’s withdrawal of 13 routes operated by Mexican airlines would reduce air-cargo capacity and disrupt supply chains. (Air Cargo News)
• Yemen’s Houthi militants smuggled ship-tracking gear used in their Red Sea campaign in a container of school supplies from China, according to a United Nations report. (TradeWinds)
• The Trump administration may reconsider the Biden-era approval of the SouthCoast Wind farm off the coast of Nantucket, Mass., a federal judge ruled. (New York Times)
• A federal judge granted heavy-duty truck manufacturers a preliminary injunction that relieves them from complying with California’s Clean Truck Partnership. (Transport Topics)

Mark R. Long is editor of WSJ Logistics Report. Reach him at mark.long@wsj.com. Follow the WSJ Logistics Report team on LinkedIn: Mark R. Long, Liz Young and Paul Berger.