A measure of U.S. consumer confidence fell sharply in April to 86.9 from 118.8 in March. (WSJ)
The coronavirus pandemic’s spread in the U.S. likely triggered the biggest quarterly economic contraction in over a decade. (WSJ)
The Federal Reserve is expected to update their assessment of the economy and spell out policies to support the recovery. (WSJ)
Oil prices climbed after data suggested the U.S. may not run out of space to store its glut of crude as quickly as feared. (WSJ)
Senate Republican leader Mitch McConnell doesn’t support including an infrastructure package in a new coronavirus relief bill. (WSJ)
Boeing is facing criminal and civil scrutiny into years of quality-control lapses on its 737 MAX assembly line. (WSJ)
KKR & Co. took a minority stake in o9 Solutions, valuing the supply-chain management software maker at more than $1 billion. (WSJ)
Ford Motor lost nearly $2 billion in the first quarter and expects losses to top $5 billion in the current quarter. (WSJ)
Germany’s two largest car makers said the worst of the economic fallout from the pandemic was yet to come. (WSJ)
3M is cutting costs after surging medical equipment sales failed to offset declines in other industrial business in the first quarter. (WSJ)
Caterpillar’s first-quarter sales fell 21% as construction-equipment dealers sharply pulled back their inventory growth. (WSJ)
Southwest Airlines reported its first quarterly loss since 2011. (WSJ)
Harley-Davidson’s first-quarter motorcycle sales world-wide fell 18%. (WSJ)
The owner of Harry & David will close most of the brand’s stores in the U.S. and focus on e-commerce sales. (WSJ)
Bed Bath & Beyond has converted about a quarter of its U.S. and Canada stores to regional online fulfillment centers. (Chain Store Age)
Cory Furniture Rental fired its truckers and warehouse workers at the start of the pandemic as the staffers were undertaking organizing efforts. (New York Times)
China’s Huawei Technologies is working with European chip maker STMicroelectronics to secure supplies in case of more U.S. trade restrictions. (Nikkei Asian Review)
Logistics business activity in Indonesia has plummeted 50% since the coronavirus lockdowns. (Jakarta Post)
Executives at several major trucking companies are taking pay cuts to conserve cash. (Commercial Carrier Journal)
Container rates are holding steady as shipping lines scale back their capacity on major trade lanes. (Journal of Commerce)
Orient Overseas Container Line’s first-quarter volumes expanded slightly on trans-Pacific and Asia-Europe trade lanes. (Lloyd’s List)
A judge gave Maersk Line the go-ahead to move its container operations at the Port of New York and New Jersey. (Splash 247)
California Maritime Academy will resume summer sessions as the state’s only public college holding in-person classes. (San Francisco Chronicle)
Strong growth in crude oil shipments helped Canadian National Railway offset declining carload volumes in the first quarter. (Reuters)
Amazon is placing a 600,000-square-foot distribution center near August, Ga. (Augusta Chronicle)
Belgium’s potato industry trade body wants Belgians to eat fries twice a week to alleviate a potato glut. (CNBC)
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