United Parcel Service’s fourth-quarter net profit soared 26.4% to $2.33 billion before special charges as revenue jumped 21%. (WSJ)
The Congressional Budget Office expects U.S. economic output to return to its pre-pandemic level by the middle of this year. (WSJ)
The Caixin purchasing managers’ index for factory activity in China showed its slowest growth in seven months in January. (Dow Jones Newswires)
Ford plans to use Google’s Android operating system for its vehicle display screens starting in 2023. (WSJ)
BP warned of continuing challenges in the oil and gas sector after reporting a profit for the fourth quarter. (WSJ)
British online apparel merchant Asos is buying TopShop, Miss Selfridge and other brands in a deal that won’t include their physical stores and warehouses. (The Guardian)
British apparel retailers say the fashion and textile sector faces “decimation” under the country’s post-Brexit agreement with the European Union. (Financial Times)
South Korean chip maker SK Hynix is building a $14 billion plant to ramp up mass semiconductor production. (Nikkei Asian Review)
Coca-Cola European Partners plans to shift to all-electric or low-emission vehicles by 2030. (Food & Drink International)
Cold-storage specialist Lineage Logistics is looking for new deals in Europe following a series of acquisitions there last year. (Bloomberg)
Contract trans-Pacific container freight prices are about 15% higher than normal following big gains in spot rates. (Lloyd’s List)
California is asking regulators to act immediately to help U.S. exporters harmed by congestion and a container shortage at ports. (Journal of Commerce)
Pacific International Lines creditors approved a rescue plan that will inject $600 million in Singaporean state aid into the regional container line. (ShippingWatch)
The longshore union and the South Carolina Ports Authority are in a dispute over whether work at a new Charleston container terminal must go to unionized workers. (Post and Courier)
Truckload carrier Knight-Swift Transportation is taking a majority stake in fleet and workflow software company Eleos. (Dow Jones Newswires)
TFI International is acquiring Ontario-based truckload and heavy haul provider Fleetway Transport. (Today’s Trucking)
Delivery robot company Starship Technologies raised $17 million in a new funding round. (VentureBeat)
British parcel-delivery firm Yodel raised its revenue outlook after reporting volumes rose 26% in the six months ending in December. (Logistics Manager)
British Airways reached an agreement with cargo handlers in the U.K., ending threats of new walkouts. (Air Cargo News)
Qatar Airways is dropping its last four Airbus A330 freighters. (Stat Trade Times)
Cargo income helped Vietnamese budget passenger airline Vietjet turned a $3 million profit last year. (FLightGlobal)
Revenue for European rail freight transporters fell by 12% last year. (Nieuwsblad Transport)
Toys ‘R’ Us closed the two brick-and-mortar stores that owners of the reconstituted business had opened. (Associated Press)
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