The Federal Reserve held its key interest rate near zero and said it plans to continue supporting the economic recovery. (WSJ)
An appeals court reversed a preliminary injunction shielding trucking companies from enforcement of California's 2020 gig-economy law. (Dow Jones Newswires)
Ford expects the computer-chip shortage to force it to cut second-quarter production in half. (WSJ)
Apple more than doubled its first-quarter profit to $23.6 billion as iPhone sales rose 65% to $47.9 billion. (WSJ)
Saudi Arabia is talking with unnamed foreign investors about buying stakes in Aramco. (WSJ)
Amazon is on track to surpass Walmart as the largest retailer in the U.S. by 2025. (Bloomberg)
BMW is suspending production at two factories in the U.K. and Germany because of the chip shortage. (Financial Times)
The head of Toyota’s European supply chain says the automaker will maintain its just-in-time manufacturing strategy despite the past year’s disruptions. (Automotive Logistics)
Toyota will spend $800 million to add two sport-utility vehicles to its production line at an Indiana plant. (Nikkei Asia)
Luxury retailer LVMH will start reselling some of its raw materials under what it calls a “re-sourcing” initiative. (Sourcing Journal)
Norfolk Southern reached a quarterly record best operating ratio of 61.5% as operating revenue rose marginally on a 3% gain in freight rail volumes. (Dow Jones Newswires)
The Port of Singapore has cleared a backlog of 45 container ships that built up because of the Suez Canal blockage. (Straits Times)
Some U.S. importers are pursuing multiyear service contracts to mitigate the impact of rising container freight rates. (Journal of Commerce)
Container carrier Matson’s first revenue jumped 39% to $711.8 million as China volumes more than tripled. (Lloyd’s List)
The Panama Canal is moving to make its operations carbon neutral by 2030. (Splash 247)
Full-year profit at Cargolux soared to $769 million as revenue jumped 40% despite marginal growth in airfreight volume. (Air Cargo News)
Digital freight-forwarding platform Logixboard raised $13 million in a Series A funding round. (FreightWaves)
A mining robot being tested in the depths of the Pacific Ocean has become stranded on the ocean floor. (Reuters)
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