Fed Chairman Jerome Powell says the U.S. economy faces significant long-term damage despite recent signs of improvement. (WSJ)
U.S. retail sales rose 17.7% from April to May but remained behind pre-pandemic levels. (WSJ)
The International Energy Agency forecast a strong rebound in global oil demand next year. (WSJ)
The Trump administration further eased plans to restrict passenger flights by mainland Chinese airlines to the U.S. (WSJ)
European Union authorities launched two investigations into whether Apple violated competition laws through its Apple Pay service and App Store. (WSJ)
Same-store sales at McDonald’s fell 5% in May from a year ago, a big improvement from the month before. (WSJ)
Deutsche Lufthansa AG said its 9 billion euro rescue package might not win approval of shareholders. (Dow Jones Newswires)
Europe’s car makers are facing a new problem: a glut of unsold cars. (WSJ)
Chinese e-commerce retailer JD.com will price a secondary listing in Hong Kong at $29.16 a share, raising about $3.88 billion. (South China Morning Post)
The time it takes to fulfill orders for large goods like appliances rose sharply in May. (Digital Commerce 360)
Women’s apparel retailer J.Jill says it has fallen out of compliance with some debt covenants. (Sourcing Journal)
USA Rare Earth opened a rare earths processing plant in Wheat Ridge, Colo. (Yahoo Finance)
Accelerating demand for iron ore and healthy grain shipments are boosting daily earnings for dry-bulk carriers. (Lloyd’s List)
The Baltic Dry Index rose beyond 1,000 for the first time this year. (TradeWinds)
Tanker operators Norden and Diamond S Shipping will combine management of their product tankers. (Splash 247)
A Canadian National Railway conductor was killed while working outside of a rail yard in Prince Rupert, B.C. (CBC)
Amazon began offering third-party parcel shipping services in the U.K. (ECommerceBytes)
Amazon is setting the groundwork to put a large fulfillment center in El Paso County, Texas. (El Paso Times)
Chicago Ventures led a $3 million funding round for warehouse technology startup CognitOps. (DC Velocity)
Positive tests for marijuana use far outpaced those for other drugs reported in new testing by U.S. trucking regulators. (Heavy Duty Trucking)
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