Nearly 3 million more Americans applied for unemployment benefits. (WSJ)
U.S. consumers have continued to pull back by record amounts on shopping and eating out, April retail spending figures are expected to show. (WSJ)
The Trump administration plans to expand the nation’s stockpile of medical equipment to include 90 days’ worth of supplies to prepare for potential viral outbreaks. (WSJ)
China’s economic activity showed signs of improvement in April, though rising joblessness weighed heavily on consumer spending. (WSJ)
Contract manufacturing giant Taiwan Semiconductor Manufacturing is set to announce plans to build an advanced chip factory in Arizona. (WSJ)
Delta Air Lines is retiring all its 18 Boeing wide-body 777 jets by the end of the year to preserve cash. (WSJ)
Airline Virgin Atlantic is talking to banks about raising some $916 million to help it weather the coronavirus-driven drop in demand. (WSJ)
Whirlpool, Dow and Reynolds Consumer Products are collaborating to provide respirators for front-line health-care workers. (WSJ)
New York City lawmakers passed measures capping delivery fees charged by services like Grubhub and prohibiting charges for undelivered food. (WSJ)
Apple supplier Foxconn Technology Group’s first-quarter net profit slumped 90% from a year earlier, after it shut down plants for weeks during the coronavirus outbreak in China. (WSJ)
China exempted another 79 U.S. products from import tariffs. (South China Morning Post)
Investors are flocking to funds focused on logistics facilities in Asia in anticipation of booming post-coronavirus demand for e-commerce facilities. (Nikkei Asian Review)
The U.S. Postal Service is reviewing its package delivery contracts with major private parcel companies. (Washington Post)
Singapore Airlines lost $212 million in the year ending March 31, the first annual loss in its 48-year history. (Straits Times)
Taiwanese container line Yang Ming lost $27.2 million in the first quarter on a 4% drop in container volume. (Lloyd’s List)
The family of a Florida woman killed by a delivery driver dropped a lawsuit against Best Buy, J.B. Hunt Transport Services and XM Delivery. (Palm Beach Post)
|