A.P. Moeller-Maersk swung to an unexpected $72 million net loss in the fourth quarter as revenue fell 5.6% on lower volumes and freight rates. (WSJ)
A gauge of U.S. business prices rose a more-than-expected 0.5% in January. (WSJ)
The euro reached its lowest level against the dollar in almost three years. (WSJ)
Canada’s annual inflation rate accelerated to 2.4% in January. (WSJ)
General Electric expects to burn about $2 billion in cash flow in the first quarter, largely because of Boeing’s 737 MAX problems. (WSJ)
A Dun & Bradstreet study found at least 51,000 companies world-wide have direct suppliers in the Chinese regions most affected by the coronavirus outbreak. (CNBC)
Some freight trains have resumed departures from China to Europe. (RailFreight)
Japan's Sanyo Chemical Industries aims to begin mass production next year of a fire-resistant rechargeable battery made largely of plastic. (Nikkei Asian Review)
Advance Auto Parts says consolidating several warehouse management systems boosted fourth-quarter margins. (Supply Chain Dive)
Maersk is buying U.S. warehouse and distribution operator Performance Team for $545 million. (Journal of Commerce)
Dry-bulk ship operator Drylog is acquiring freight trader ED&F Man Shipping. (Lloyd’s List)
Scorpio Tankers swung to a $12 million profit in the fourth quarter on a 31% gain in revenue. (TradeWinds)
Norfolk Southern is closing a 136-year-old locomotive shop in Roanoke, Va., and consolidating the operations in Pennsylvania. (Roanoke Times)
Freight operations software company Navis is buying rail freight technology Biarri Rail. (Port Technology)
Fourth-quarter profit at Expeditors International fell 23% to $137 million as margins narrowed and freight volumes declined. (Seattle Times)
Startup Outrider raised $53 million in funding to back its technology for self-driving electric yard trucks. (TechCrunch)
Amazon plans to open a 2.5-million-square-foot distribution center near Spokane, Wash., by the summer. (Spokesman-Review)
|