Increased service-sector activity suggests the global economy is rebounding. (WSJ)
The Biden administration blocked a Trump-era rule that would have made it easier to classify gig workers as independent contractors. (WSJ)
Jeep maker Stellantis cut production by 11% in the quarter due to the global chip shortage. (WSJ)
General Motors says the semiconductor shortage cut as much as $2 billion from its bottom line. (WSJ)
Uber’s gross bookings rose 24% in the quarter as growth in food-delivery operations offset a ride-business slump. (WSJ)
Trucker Yellow swung to a $63 million quarterly net loss as bad weather hit operations. (Dow Jones Newswires)
Operating profit at DHL owner Deutsche Post more than tripled in the first quarter to $2.28 billion. (Dow Jones Newswires)
Peloton recalled its treadmills and halted sales of its latest model. (WSJ)
Michigan’s push to close a cross-border pipeline could curtail oil and gas supplies to the most populous parts of Canada. (WSJ)
The Lenzing Group is investing $240.6 million in sustainable fiber production. (Sourcing Journal)
Trading volumes for dry bulk freight futures hit a 13-year high. (Lloyd’s List)
Freight forwarder Expeditors International posted a 77% increase in revenue on strong growth in ocean and air freight shipments. (The Loadstar)
Turkish Airlines logged $61 million in net profit as cargo revenue rose 77% in the quarter. (TRT World)
Cold-chain specialist Cryoport’s revenue more than quadrupled to $53.3 million in the quarter. (Nashville Post)
Self-driving truck technology startup Plus appointed Wiley Deck, a former deputy administrator with the Federal Motor Carrier Safety Administration, as vice president of government affairs and public policy. (CDL Life)
Amazon’s work rules for its contract delivery drivers include drug testing and instructions on personal grooming. (Bloomberg)
|