Economists in a survey on average expect the U.S. economy to shrink at a 32% annual rate in the second quarter. (WSJ)
A gauge of U.S. producer prices posted its largest decrease on record in April. (WSJ)
Economists expect 3 million Americans sought jobless benefits last week, even as many who applied earlier await payments. (WSJ)
The IEA is projecting that global demand for oil will drop by 21.5 million barrels a day this month, but sees signs of recovery. (WSJ)
The U.K. economy shrank an annualized 7.7% in the first quarter. (WSJ)
Eurozone factory output fell at the fastest pace on record in March. (WSJ)
U.S. regulators denied initial approval for N95 masks from China’s BYD, which has won giant contracts for its masks. (WSJ)
Norway’s sovereign wealth fund is blacklisting four of Canada’s largest oil producers from its portfolio over high carbon emissions. (WSJ)
Emirates Airline plans to resume regular passenger services starting May 21 to nine destinations from its Dubai hub. (WSJ)
Sony expects operating profit to fall at least 30% this year despite gains in its image-sensor business. (WSJ)
Tyson Foods is lowering some beef prices, after coronavirus-driven disruptions at meatpacking plants have led to a surge in meat costs. (WSJ)
Amazon expects to restore in the coming weeks the rapid delivery times that have been slowed during the Covid-19 restrictions. (USA Today)
U.S. tariffs on Chinese imports are pushing more American buyers to source laptops and televisions from Mexico. (Journal of Commerce)
France’s CMA CGM secured a $1.14 billion bank loan backed by the French government. (Lloyd’s List)
U.S. solar panel maker First Solar will place a distribution center in Greenville, S.C.., to handle imported panels through the nearby Port of Charleston. (Post and Courier)
Prices in the capesize market for dry-bulk ocean carriers fell to the lowest level in four years. (Splash 247 List)
Vessels Value says nearly 350 product tankers now appear to be in use for floating storage of petroleum products. (ShippingWatch)
The Logistics Managers’ Index showed U.S. warehouse capacity contracting in April. (Supply Chain Dive)
World ACD says global air cargo revenue rose 36% in April while chargeable weight declined 31.6% from a year ago. (Air Cargo News)
A survey shows more than half of U.S.-based air freight forwarders have cut staff in recent weeks. (Lloyd’s Loading List)
Singapore’s Temasek Holdings and Bain Capital are among potential buyers of bankrupt airline Virgin Australia. (Nikkei Asian Review)
Canada’s two big railroads moved record grain carloads in April. (Farms)
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