A crude oil supertanker caught fire in the Persian Gulf. (WSJ)
Digital freight-matching startup NEXT Trucking is cutting about 19% of its workforce and eliminating some business lines to focus on core port trucking services. (WSJ)
The Federal Reserve left its benchmark interest rate unchanged and reaffirmed its make-no-moves posture. (WSJ)
President Trump signed legislation to implement the U.S.-Mexico-Canada Agreement. (WSJ)
The European Parliament supported an agreement for the U.K. to leave the European Union, paving the way for the country’s departure from the bloc on Friday. (WSJ)
Tesla reported record fourth-quarter deliveries of the Model 3 sedan and said it would “produce limited volumes of Tesla Semi” Class 8 truck this year. (WSJ)
Samsung Electronics reported a 39% drop in fourth-quarter net profit but projected improved market conditions in 2020. (WSJ)
A federal court struck down a Treasury Department rule that attempted to end a provision that saved wine and spirits importers from hefty excise tax payments. (WSJ)
General Electric reported strong cash flow from its industrial operations and gave an upbeat outlook. (WSJ)
The Interior Department will bar flights by drones made in China or with Chinese parts, with exceptions for natural disasters and other emergencies. (WSJ)
Apple has asked suppliers to prepare to boost iPhone production by about 10% in the first half of this year. (Nikkei Asian Review)
Home Depot opened a “drive-through” distribution center in Dallas allowing flatbed trucks to load within the warehouse. (Dallas Morning News)
Fast-fashion retailer H&M’s investments in logistics and digital technology helped boost annual net sales. (Reuters)
Teekay Tankers is resetting its finances with a new $533 million revolving credit facility while dropping three older tankers and disposing of part of its ship-to-ship transfer support business. (Lloyd’s List)
Freight railroad Union Pacific is reopening 58 service lanes that it cut last year in a cost-reduction effort. (Journal of Commerce)
Norfolk Southern’s fourth-quarter profit fell 5% to $666 million as rail volume declines outpaced cost cutting. (Associated Press)
Higher crude volumes helped Canadian Pacific Railway boost fourth-quarter profit 22% to $503.1 million. (Canadian Shipper)
Truckload carrier Schneider National says “excess industry capacity” contributed to a 34% slide in fourth-quarter earnings. (Business Journals)
Freight broker C.H. Robinson Worldwide is buying the Prime Distribution Services warehousing unit of Roadrunner Transportation Systems for $225 million. (DC Velocity)
Nordstrom plans to sell secondhand luxury clothes online and at its New York flagship. (Business of Fashion)
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