The U.S. economy grew at a 4% pace in the fourth quarter on stronger consumer spending, inventory investment and exports. (WSJ)
The number of new jobless claims in the U.S. remained at historically high levels. (WSJ)
American Airlines lost $2.2 billion in the fourth quarter while cargo revenue rose 32% to $285 million. (WSJ)
Ford will start building its iconic Mustang vehicles in China. (WSJ)
A liquid nitrogen leak at a northeast Georgia poultry plant killed six people. (WSJ)
Annual sales growth at McDonald’s accelerated in the fourth quarter to 5.5%. (WSJ)
Drinks maker Diageo’s spirits sales in the U.S. rose 15% in the first half of the year. (WSJ)
The European Union will empower member states to block exports of coronavirus vaccines. (Financial Times)
Apple supplier Luxshare Precision Industry of China is investing $926 million in an iPhone supply business owned by rival Pegatron. (Nikkei Asian Review)
Walmart is adding two e-commerce fulfillment centers outside Dallas. (Dallas Morning News)
Costco Wholesale plans to build a 1.5 million-square-foot distribution center south of Tacoma, Wash., for online fulfillment. (Daily Chronicle)
Upscale retailer Neiman Marcus will spend $85 million to improve its digital commerce efforts. (Business of Fashion)
A survey by Coresight Research and Blue Yonder suggests many retailers have turned to “nearshoring” to gain more control of their supply chains. (Sourcing Journal)
Strict customs checks of inbound frozen fish has led to a huge pileup of cargoes at China’s Dalian port. (Bloomberg)
Italy’s Fincantieri and France’s Chantiers de l’Atlantique called off talks aimed at merging the shipyards. (Lloyd’s List)
Taiwan’s Evergreen Marine is buying up to 20 mid-sized container ships in orders with four shipyards. (TradeWinds)
Norfolk Southern’s fourth-quarter net profit edged up 1% to $671 million despite a 4% drop in revenue. (Railway Age)
Canadian Pacific Railway reduced its operating ratio to a company record 53.9%. (Progressive Railroading)
More than 150 passenger planes were reconfigured to handle freight last year. (Air Cargo News)
Atlanta-based JAS Worldwide is buying the Tigers freight forwarding subsidiary of France’s Geopost.. (The Loadstar)
RGL Logistics bought a property with a 450,000-square-foot distribution center in Appleton, Wis. (Appleton Post-Crescent)
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