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2140.66
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The Shanghai Containerized Freight Index, a measure of global shipping rates, for the week ended May 15, up 9.5% from the previous week to its highest since June of last year.
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Apple has developed a booming business selling cheaper devices. One of its secrets: using chips with slight defects that might otherwise be thrown out, the Journal’s Rolfe Winkler and Yang Jie write.
The strategy is apparent in the $599 MacBook Neo, which has the same chip powering it as was first used inside the iPhone 16 Pro, but with a difference. The Neo version has a “5-core” graphics processor, one less than the version inside the 2024 iPhones, indicating that Apple was able to save some chips with a defective core for future use.
Defective cores can be disabled, leaving a chip that still functions perfectly well to power different, often cheaper devices. It is the latest example of Apple deploying a decades-old strategy to squeeze profits from lesser-performing processors by selling them segmented by good, better and best.
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A landscaper accused Deere of unfairly restricting what owners or independent mechanics can fix on the company's machines. LUKE SHARRETT/BLOOMBERG
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A Chicago landscaping contractor sued Deere last week in U.S. District Court in Illinois, accusing the company of many of the same antitrust violations alleged in a recently-settled $99 million lawsuit filed by farmers who have demanded easier ways to fix their own equipment.
Repair-rights advocates hope to elevate the new complaint to class-action status, which potentially would allow thousands of owners of Deere construction and forestry equipment to join as plaintiffs. The landscaper, Christy Webber & Co., accused Deere of unfairly restricting what owners or independent mechanics can fix on the company’s machines.
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U.S. industrial production rose by 0.7% in April, after decreasing by an upwardly revised 0.3% in March, according to the Federal Reserve. (WSJ)
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Canadian manufacturing activity rebounded in March, with factory sales rising 3% to the equivalent of about $53.76 billion, the highest level in over a year. (WSJ)
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The House passed the Nationwide Consumer and Fuel Retailer Choice Act, which would allow year-round sale of ethanol-blended E15 gasoline, but the bill faces Senate opposition. (WSJ)
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NextEra Energy is in advanced talks to buy rival utility Dominion Energy, according to people familiar with the matter. (WSJ)
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Toyota Motor is considering investing $2 billion to add a vehicle assembly line near its manufacturing facility in San Antonio, Texas. (WSJ)
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U.S. energy developer Caturus, backed by Abu Dhabi’s Mubadala Energy, BlackRock and other investors, has greenlit a $13 billion project to ship LNG from Louisiana’s coast. (WSJ)
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Canada’s Montreal Port Authority said former commercial officer Paul Bird will return and take over as its new CEO on June 8. (Journal of Commerce)
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Brookfield Asset Management agreed to acquire air-cargo forwarder World Freight Co. at an enterprise value of about $1.2 billion from EQT and PAI Partners. (Reuters)
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The Federal Highway Administration is making $3 billion in grant funding available for projects to plan, rehabilitate, preserve or replace U.S. bridges. (Roads & Bridges)
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The California Air Resources Board is launching a utility-administered electric-truck rebate program, with more than $1 billion in incentives expected to be available through 2030. (Heavy Duty Trucking)
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The sheriff’s office in Florida’s Hillsborough County last week said it arrested 14 people and recovered $5 million worth of goods stolen in a multi-state retail-theft operation. (ABC7 WWSB)
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