China’s retail sales shrank 3.9% in 2020 and demand for imported goods fell slightly. (WSJ)
Startup Rivian Automotive raised another $2.65 billion to back its effort to build electric vehicles including delivery trucks. (WSJ)
J.B. Hunt’s fourth-quarter revenue jumped 12% to $2.74 billion and net earnings rose 6.5% to $154 million. (Dow Jones Newswires)
Microsoft is among a group of investors pumping $2 billion into General Motors’ driverless-car startup Cruise as part of a strategic tie-up. (WSJ)
New Stellantis chief Carlos Tavares says he will maintain the merged automaker’s network of factories. (WSJ)
Office Depot rebuffed an unsolicited takeover offer from office-supply rival Staples but indicated it is open to an alternative deal. (WSJ)
The London Metal Exchange is proposing closing its open-outcry ring, where traders have swapped metals using shouts and hand signals for 144 years. (WSJ)
Lumentum Holdings agreed to buy laser maker Coherent for $5.7 billion. (WSJ)
The International Energy Agency cut its forecast for global oil demand again in a sign of more earnings pain for tanker operators. (Lloyd’s List)
The cost of shipping goods from China to Europe has more than quadrupled in eight weeks amid a shortage of empty containers. (Financial Times)
Charter rates for large container ships are pushing to new highs. (TradeWinds)
An analysis shows more than a third of all containers are “rolled,” or shifted from their original booking on container ships. (Splash 247)
Chinese officials are preparing steps to “increase shipping capacity and stabilize freight rates.” (Lloyd’s Loading List)
Maersk Line expects to begin ordering new ships running on alternative fuels in about three years. (Offshore Energy)
Asian textile manufacturers are banding together to fight what they believe are onerous payment terms imposed by Western buyers. (Sourcing Journal)
Abu Dhabi started a $1.6 billion supply-chain financing program to help small and medium-sized enterprises weather coronavirus disruptions. (Bloomberg
Buyers of Peloton Interactive are exercised over months-long delays in delivery of the workout equipment. (New York Times)
British food-delivery company Deliveroo raised another $180 million from existing investors, including minority shareholder Amazon. (Reuters)
Companies in Thailand are spending $800 million to expand production capacity for medical gloves. (Nikkei Asian Review)
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