The U.S. economy shrank 4.8% in the first quarter and economists expect a steeper decline this quarter. (WSJ)
The U.S. Federal Reserve pledged to take aggressive action to support an eventual economic recovery. (WSJ)
The U.S. is likely to report today that consumer spending fell sharply in March. (WSJ)
Boeing is undertaking thousands of job cuts and slashing production to cope with the “body blow” of the coronavirus crisis. (WSJ)
Airbus expects to come out of the coronavirus pandemic in a stronger competitive position than rival Boeing. (WSJ)
General Electric is cutting $2 billion in costs to offset falling sales and profits (WSJ)
Tesla reported a surprising first-quarter profit, fueled by the sale of regulatory tax credits and strong demand for its Model 3. (WSJ)
China's embattled Tesla rival Nio secured roughly $1 billion in financing from state-owned entities. (WSJ)
Supply chain disruptions are weighing on Mondelez International even as the pandemic drives unprecedented demand for its snack foods. (WSJ)
GlaxoSmithKline‘s first-quarter sales got a lift from customers stockpiling medicines and drugstore staples. (WSJ)
The owners of Applebee’s and Chili’s restaurants are bolstering delivery and pickup capabilities to offset lost dining business. (WSJ)
Meal-kit provider Blue Apron’s first-quarter sales fell 28%. (WSJ)
Ride-hailing company Lyft is cutting cut about 17% of its workforce while also furloughing workers and slashing pay. (WSJ)
Traffic fatalities are rising in some U.S. states even though there are fewer drivers on roads. (WSJ)
Chinese e-commerce company JD.com filed for a secondary listing in Hong Kong that could raise about $3.2 billion. (Nikkei Asian Review)
Norfolk Southern is cutting its capital spending by 25% after first-quarter rail volumes fell 11%. (Associated Press)
Brazilian miner Vale is withdrawing 25 large ore carriers from its bulk shipping fleet. (Lloyd’s List)
Cosco Shipping Holdings’ container revenue rose 8% in the first quarter despite a 4.6% slide in volume. (Journal of Commerce)
U.S. highway safety regulators want to make it easier to bar alcohol and substance abusers from commercial driving. (Fleet Owner)
Amazon is stepping up its use of Indian Railways to move goods around the country. (Economic Times)
Automation startup Brain raised $36 million in a funding round aimed at backing expansion into inventory delivery. (DC Velocity)
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