U.S. workers filed 3.2 million unemployment claims last week, the fewest since the week ended March 14. (WSJ)
The unemployment rate likely rose in April to a record, with economists surveyed by The Wall Street Journal expecting the rate climbed to 16% from 4.4% in March. (WSJ)
China’s exports rose 3.5% in April in a clearing of backlogs from before the coronavirus pandemic. (WSJ)
China’s auto market likely grew last month from a year earlier for the first time in nearly two years. (WSJ)
Uber Technologies’ quarterly loss ballooned to $2.94 billion, including a $64 million loss on $199 million in revenue in its freight brokerage unit. (WSJ)
Neiman-Marcus filed for chapter 11 bankruptcy protection with plans for creditors to take over the high-end retailer. (WSJ)
Delivery service startup Deliv is shutting down and retailer Target is buying some of its technology assets. (WSJ)
Raytheon Technologies plans to cut $2 billion in costs, suspend share buybacks and furlough workers in its commercial aviation business. (WSJ)
Deutsche Lufthansa is in talks with the German government over an aid package that would have the state to take a 25% stake in the airline. (WSJ)
Italy intends to invest at least $3.2 billion in flagship carrier Alitalia. (WSJ)
Costco Wholesale’s monthly sales fell for the first time in more than a decade. (WSJ)
Kohl’s says shoppers returned to stores as the retailer began opening its department stores. (WSJ)
First-quarter sales at Anheuser-Busch InBev fell sharply as major beer markets went into lockdown. (WSJ)
ArcelorMittal lost $1.1 billion in the first quarter and said steel demand fell by a third in North America and Europe. (WSJ)
Consumer-goods supplier Li & Fung plans to invest heavily in technology as it copes with the impact of e-commerce on its business. (Nikkei Asian Review)
An industry group forecasts an 11.8% drop in global cotton consumption during the current season. (Sourcing Journal)
Tesla suspended production at its plant outside Shanghai. (Bloomberg)
The Andersons resumed ethanol production at plants in Albion, Mich., and Denison, Iowa, after idling all five of its ethanol facilities in March. (Ethanol Producer)
Taiwanese container line Yang Ming plans to issue 300 million shares in a special offering to bolster the carrier’s liquidity. (Lloyd’s List)
Tanker operator Euronav’s first-quarter profit soared to $225.2 million as revenue jumped 80% to $417.7 million. (TradeWinds)
Atlas Air is returning three parked 747 freighters to service. (Air Cargo News)
Amazon expanded its U.S. freight brokerage service to all lower 48 states. (Transport Dive)
The former chief executive of defunct Arrow Trucking was released from federal prison and sent to home confinement. (Tulsa World)
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