FedEx is reducing its delivery capacity and retiring aircraft in a new round of cost cutting. (WSJ)
Costco Wholesale acquired home-delivery company Innovel Solutions for $1 billion. (WSJ)
Businesses and households have a similar and pressing problem: The money just isn’t coming in, but bills still have to get paid. (WSJ)
U.S. retail sales fell 0.5% from January to February. (WSJ)
The dollar rose sharply against most currencies in unusual moves normally only seen in the most stressful market periods. (WSJ)
Several U.S. states are seeing sharp increases in unemployment benefits claims as more companies shed workers. (WSJ)
Tesla has started delivering its new Model Y compact sport-utility vehicle. (WSJ)
Tesla was ordered to conduct “minimum basic operation only” at its California factory, threatening its plan to boost deliveries this year. (WSJ)
Daimler and Ford joined the wave of auto makers suspending production in Europe. (WSJ)
FedEx and United Parcel Service are changing their signature rules for package deliveries to protect customers and workers. (Bloomberg)
Strategy Analytics expects global smartphone shipments to decline this year by 10%, or 100 million units. (Nikkei Asian Review)
Seaborne shipments into the U.S. declined 7.5% in February from a year ago, according to Panjiva. (Logistics Management)
Italy’s ports are operating normally despite the country’s lockdown. (Lloyd’s List)
Bulk shipping companies say quarantines of crews at some ports are making it difficult to strike new transport agreements. (Shipping Watch)
Greece’s giant Posidonia shipping show was moved from June to October. (Splash 247)
Korean Air and Australia’s Qantas are using their idled passenger planes to haul cargo in the increasingly high-demand airfreight market. (Flight Global)
Full-year revenue at China’s ZTO Express jumped 25.8% in 2019 to $3.2 billion,. (Xinhua)
Restaurants that closed abruptly are scrambling to get rid of their leftover perishable food. (The Counter)
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