American incomes rose 6.8% last year and poverty fell for the fifth straight year. (WSJ)
The Port of New Orleans closed operations as the U.S. Gulf Coast braced for Hurricane Sally to make landfall. (WSJ)
The Trump administration is moving to drop tariffs on Canadian aluminum just before retaliatory levies were imposed. (WSJ)
The World Trade Organization ruled that some U.S. tariffs against China violate international trading rules. (WSJ)
Brokers are peddling counterfeit medical gloves as a shortage of the critical commodity has tripled prices during the pandemic. (WSJ)
Swissport International reached debt-for-equity agreements that will pass ownership of the airport services and cargo handler to a group of investment funds. (WSJ)
Department store chain Kohl’s is cutting about 15% of its corporate workforce. (WSJ)
Packaged-foods supplier Kraft Heinz plans to cut $2 billion in costs over five years. (WSJ)
Molson Coors Beverage is forming a joint venture with D.G. Yuengling & Son, the sixth-largest brewery in the U.S. (WSJ)
Shale driller Lonestar Resources US is entering bankruptcy protection with an agreement to restructure its debt obligations. (WSJ)
Quarterly sales at retailer Hennes & Mauritz fell 19% but have recovered faster than expected. (WSJ)
European lawmakers voted to include shipping in the bloc’s emissions trading system. (Lloyd’s List)
Asset manager Fidelity International says shipping’s crew-change crisis is a looming danger to global supply chains. (Financial Times)
Container lines Maersk Line and Cosco Shipping have reportedly pulled back their September rate increases. (The Loadstar)
Asian exporters are having difficulty getting containers back after supply-chain disruptions in Europe and the U.S. (Journal of Commerce)
Canadian Pacific Railway and A.P. Moller-Maersk will jointly build and operate a transload facility near Canada’s Port of Vancouver. (Port Technology)
FedEx will impose a 6% fee for express and ground shippers who are late paying invoices starting in January. (Logistics Management)
Walmart is working with drone-delivery company Zipline for on-demand transport of healthcare products. (CNBC)
IKEA says demand for office furniture in Canada is outpacing supply. (Financial Post)
Truckers are reporting wait times up to eight hours to cross from Mexico to the U.S. at the Otay Mesa border post. (KRQE)
U.S. trucking revenues fell 17.2% from the year before in the second quarter, and were off 16.7% from the first quarter. (Transport Dive)
Canada’s acquisition-focused TFI International bought U.S. freight broker DLS Worldwide for $225 million. (FreightWaves)
|