Airbus reached a preliminary agreement with fraud agencies in the U.S., U.K. and France over a longstanding investigation into bribery and corruption. (WSJ)
Arconic expects to lose $400 million in sales and may cut jobs this year as a result of Boeing’s halted production of the 737 MAX. (WSJ)
The Indian government has agreed to sell its entire stake in Air India, making it more attractive to potential buyers. (WSJ)
A unit of Eagle Bulk Shipping will pay $1.13 million to settle allegations that it violated U.S. sanctions on Myanmar. (WSJ)
Whirlpool’s quarterly profit increased after it raised prices on some appliances and raw-material cost increases cooled. (WSJ)
Federal antitrust regulators are probing a potential deal between a major U.S. dairy cooperative and bankrupt milk-processing giant Dean Foods. (WSJ)
Kroger-owned specialty grocer Lucky Market filed for chapter 11 bankruptcy protection. (WSJ)
Taiwanese contract electronics manufacturer Pegatron is opening factories in Indonesia and Vietnam because of rising costs in China. (Nikkei Asian Review)
Suppliers to the Canadian lingerie retailer La Senza filed papers asking that the company be pushed into Chapter 7 bankruptcy. (Retail Dive)
Cosco Energy Shipping has apparently resumed operations following U.S. sanctions imposed last fall with crude loads picked up in West Africa. (Lloyd’s List)
The two largest manufacturers of sea containers issued earnings warnings after prices for new boxes fell to a three-year low. (Shipping Watch)
Container movements world-wide handled by Orient Overseas Container Line rose 4.8% in the fourth quarter. (The Loadstar)
Chilean carrier CSAV is exiting the car carrier sector. (Splash 247)
Cargo volumes at Mexico’s ports fell in 2019 for the first time in six years. (Journal of Commerce)
Amazon is building an 855,000-square-foot distribution center in Memphis, Tenn. (Chattanooga Times-Free Press)
Amazon struck a deal in principle for a site on the South Side of Chicago that would include a 150,000-square-foot distribution center. (Crain’s Chicago Business)
Swiss Post and Matternet resumed drone delivery of medical shipments following an eight-month investigation of safety processes. (Post & Parcel)
London-based Shipamax gained $7 million in a Series A funding round backing its business automating back-office operations for logistics companies. (TechCrunch)
|