The U.S. economy could take the better part of a decade to fully recover from the pandemic, a U.S. budget agency said.
Purchasing-manager surveys in the U.S., Asia and Europe indicated the decline in factory activity eased from the record pace seen in April. (WSJ)
U.S. oil prices notched their largest monthly gains on record in May. (WSJ)
The U.S. dollar has been losing value on world markets as increasingly confident investors turn to riskier currencies. (WSJ)
Amazon scaled back or adjusted delivery routes in a handful of cities to protect employees during widespread protests against police brutality. (WSJ)
Ohio-based glass tableware maker Libbey filed for chapter 11 bankruptcy protection. (WSJ)
China has told some of its state-owned agriculture importers to stop purchasing farm products from the U.S. (South China Morning Post)
Ireland-based retailer Primark is looking for up to 400,000 square feet of warehouse space to store inventories stockpiled during the pandemic. (Logistics Manager)
An industry group says 15 commercial vehicles were manufactured in the U.K. in April. (Motor Transport)
Qatar Petroleum reserved slots with three South Korean shipyards for 100 liquefied natural gas carriers worth more than $19.2 billion. (Lloyd’s List)
Indian ship owner Great Eastern is considering selling $132 million in notes after reporting a fourth-quarter loss. (TradeWinds)
A Sovcomflot gas carrier completed a transit of the Northern Sea Route weeks ahead of the usual opening of the Arctic route. (Splash 247)
Australian authorities say they will prosecute the master of a container ship that lost about 50 boxes overboard. (The Loadstar)
Canadian National Railway has accelerated job furloughs amid greater declines in freight volume. (Canadian Press)
Nikola Motor and Ryder System ended their agreement to have Ryder exclusively sell and maintain Nikola’s planned hydrogen semis. (Commercial Carrier Journal)
The U.S. is facing a shortage of the anti-anxiety medication Zoloft. (Bloomberg)
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