U.S. consumer spending jumped 8.2% from April to May while personal income declined 4.2%. (WSJ)
BP PLC has agreed to sell its petrochemicals business to British chemicals company Ineos in a $5 billion deal. (WSJ)
A man armed with a semi-automatic rifle shot and killed one person at a Walmart distribution center in Red Bluff, Calif., before he was killed by police. (Associated Press)
Medical-grade N95 masks shortages are developing as coronavirus cases spread in the U.S. (WSJ)
The World Health Organization and two nonprofits plan to procure two billion doses of eventual coronavirus vaccines for distribution in developing nations. (WSJ)
U.S. air-safety regulators are prepared to begin key flight tests of Boeing’s 737 MAX jet as early as Monday. (WSJ)
Pakistan will pursue criminal charges against pilots found to have obtained fraudulent flying licenses. (WSJ)
Delta Air Lines will send notices next week to over 2,500 pilots warning of potential furloughs. (WSJ)
Microsoft is closing all its physical storefronts and exiting the bricks-and-mortar retail business. (WSJ)
Hydrauling fracking pioneer Chesapeake Energy filed for bankruptcy protection. (WSJ)
Fracking sand supplier Hi-Crush is negotiating the terms of a chapter 11 bankruptcy filing with lenders. (WSJ)
Firearms manufacturer Remington Arms is preparing to file for chapter 11 protection and is in talks for a potential sale to the Navajo Nation. (WSJ)
Hitachi Construction Machinery will stop manufacturing equipment in Europe by the end of next year and switch to exports from Japan. (Nikkei Asian Review)
Container lines are sending a growing number of small vessels on faster voyages on trans-Pacific routes. (Bloomberg)
Container shipping lines are increasingly cooperating on inland transport. (Journal of Commerce)
Truck maker Navistar International named Persio Lisboa president and chief executive officer as Troy Clarke became executive chairman. (Chicago Tribune)
United Parcel Service cut China-U.S. surcharges it had added because of high demand and tight capacity on the lane. (Supply Chain Dive)
United Airlines will restore some U.S.-China flights starting July 8. (Reuters)
The Dutch government and several banks will provide a $3.8 billion financing package to Air France-KLM. (MarketWatch)
A Clarksons Platou offshore broker was barred from working in Singapore after breaking the country’s coronavirus restrictions. (TradeWinds)
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