American consumer spending grew in April at the strongest rate in five months. (WSJ)
Consumer inflation in the U.S. rose 0.2% from March to April. (WS)
An official gauge of China’s factory activity climbed to an eight-month high in May. (WSJ)
Canada’s economy expanded at a slower-than-expected pace of 1.3% in the first quarter. (WSJ)
A reading for business activity across the U.S. Midwest rose in May as new orders and production strengthened. (WSJ)
Inflation in the eurozone accelerated in May. (WSJ)
India’s economy expanded 7.7% in the first quarter, the fastest pace in nearly two years. (WSJ)
Sears Holdings Corp. is closing more than 60 stores after reporting its 26th straight quarterly sales decline. (WSJ)
Japan’s SoftBank Vision Fund will invest $2.25 billion in General Motors Co.’s driverless-car unit, GM Cruise Holdings LLC. (WSJ)
Dollar Tree Inc. says it faced higher freight costs in the first quarter, largely from “driver issues.” (WSJ)
Etsy Inc. will close its wholesale marketplace and instead focus resources on its main e-commerce website. (Bloomberg)
Amazon.com Inc. will block Australian consumers from its global marketplaces to counter new tax-collection rules. (ABC)
Rwanda is resisting U.S. pressure to lift tariffs on used clothing imports. (The Economist)
Intermodal volume on U.S. railroads rose 4.4% from a year ago last week and was up 11.1% from the first week of April, according to the Association of American Railroads. (Railway Age)
Fairfax Financial Holdings Ltd. is exercising warrants to double its investment in container ship owner Seaspan Corp. to $1 billion. (American Shipper)
Tanker operator Frontline Ltd. swung to a $13.6 million first-quarter loss. (Lloyd’s List)
Norwegian tanker ship owner IM Skaugen filed for restructuring in Singapore. (Seatrade Maritime)
Terminal operator Ports America Group named Mark Montgomery, a partner at Oaktree Capital Management, president and chief executive. (Container Management)
Deutsche Post DHL Group added a second manufacturing site for its StreetScooter electric delivery vehicles. (Post & Parcel)
Logistics operator Geodis will start operating a 575,000-square-foot distribution center in Carlisle, Pa. (York Daily Record)
U.K. online grocer Ocado Group PLC was added to the FTSE 100 index on the strength of sales of its logistics technology. (Logistics Manager)
The U.S. is recalling more than 228,000 pounds of Spam and related Hormel Inc. products after people claimed they found metal fragments in their food. (MLive)
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