UPS rode a pandemic-fueled surge in e-commerce to higher profits and a 13% jump in revenue during the June quarter, underscoring how the illness upended daily life. (WSJ)
The Federal Reserve says the U.S. economy faces major challenges from the coronavirus pandemic. (WSJ)
Amazon CEO Jeff Bezos says the company continues to investigate allegations detailed in the WSJ that Amazon employees used individual third-party seller data to develop branded products. (WSJ)
Debt-ridden Pacific International Lines is getting a $110 million lifeline from an affiliate of Singapore’s sovereign-wealth fund. (WSJ)
Germany suffered a record economic contraction in the second quarter, but Europe’s powerhouse is nonetheless expected to shrink by less and recover faster than other major economies. (WSJ)
Corn prices in China are soaring, which could be good news for American farmers. (WSJ)
Trucker Arcbest’s second-quarter profit fell 35% to $15.9 million but beat expectations on improved less-than-truckload pricing. (WSJ)
Werner Enterprises says its one-way truckload demand is higher so far in July than in the same month a year ago. (WSJ)
The U.S. Postal Service reached an agreement for a $10 billion loan from the Treasury Department. (WSJ)
Boeing is cutting production of commercial jets even further and shrinking its workforce again after losing $2.4 billion in the second quarter. (WSJ)
General Motors lost $758 million in the second quarter, although losses from factory shutdowns in North America were less than anticipated. (WSJ)
Meal-kit delivery company Blue Apron Holdings swung to its first quarterly profit as a public company as sales rose 10% from last year. (WSJ)
Mining giant Rio Tinto maintained its forecast for annual iron ore shipments after exports rose 1% in the June quarter. (WSJ)
French energy giant Total is writing down the value of its oil-and-gas assets by $8.1 billion. (WSJ)
A report on factories in Malaysia that make products for Brooks Brothers, Levi’s, LL Bean and others says workers there pay a high price for their jobs. (New York Times)
Nike dropped plans to build a shoe factory in Goodyear, Ariz. (Business Journals)
Retailer J.Jill lost $70.3 million last quarter as net sales fell by nearly half. (Retail Dive)
Market rates for the largest bulk ocean carriers are tumbling. (Lloyd’s List)
U.S. railroads have started imposing surcharges and volume restrictions to handle a surge of goods out of Southern California. (Journal of Commerce)
Truckload carrier U.S. Xpress tripled its second-quarter net profit to $9.5 million on a 2% gain in revenue. (Chattanooga Times Free Press)
Singapore Airlines lost $810 million in the June quarter even as cargo traffic jumped 50.4%. (Straits Times)
Norfolk Southern named Cindy Sanborn, a longtime executive at CSX who was also a vice president at Union Pacific, as its chief operating officer. (Trains)
Austria-based logistics operator Gebrüder Weiss acquired major assets of Germany's Ibsen Logistics. (The Loadstar)
A new report projects the global forklift market will grow at an average 7.3% annual rate through 2027. (Material Handling & Logistics)
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