Yellow has run out of road. The 99-year-old trucker, one of the largest freight carriers in the U.S., filed for bankruptcy protection in Delaware and CEO Darren Hawkins said the business is closing. The WSJ’s Paul Page and Soma Biswas report the company has lined up financing to manage the business through the bankruptcy process, which will include the sale of assets that comprise thousands of trucks and dozens of truck terminals. The trucker’s collapse ends the jobs of 30,000 workers, including 22,000 Teamsters. Hawkins pinned the blame for the collapse on the union, saying it had undermined a “significantly wounded company” with its demands. The Teamsters say Yellow’s own management is to blame. Yellow says debts totaled $2.5 billion at the time of the filing against $2 million in assets. Yellow listed 30 unsecured creditors in its bankruptcy filing, including BNSF Railway, Amazon.com with and Home Depot.

• Here's how Yellow's shutdown unfolded for its workers. (WSJ) 
• Hedge fund MFN Partners has spent nearly $23 million buying up Yellow shares to become the trucker’s majority stockholder with a 42.5% stake. (Barron’s)
• Trucker XPO estimates its business has grown by about 3,000 shipments a day since Yellow’s problems accelerated. (Dow Jones Newswires)

Freight carrier Yellow's collapse was years in the making but accelerated in just the last few months as growing pressures hit the trucker from different directions. In this WSJ video report, we look at how ballooning debt, deepening cash problems and a standoff with the Teamsters union led to the downfall of one of America's biggest truckers.

Surging demands on transportation workers during the pandemic are fueling labor standoffs at companies critical to U.S. supply chains. From container handling at Pacific Northwest ports, to express parcel flights, rail operations and the recent battles between trucker Yellow and the Teamsters union, workers are showing new unrest and new resolve over compensation and job conditions. The WSJ’s Esther Fung reports that workers say they are entitled to a bigger share of the corporate profits generated during the pandemic and recognition for pushing through the health crisis when other staff worked remotely. Employers say they are offering outsize wage increases and improved conditions for workers. But recent labor standoffs have irked businesses and slowed the goods movement. And recent agreements don’t guarantee labor peace. In one ominous sign of a bumpy ratification process for the UPS-Teamsters contract, leadership of the Louisville, Ky., local chapter rejected the newest agreement.

• With U.S. union membership down to historic lows, Teamsters chief Sean O’Brien is trying to reverse the tide with aggressive social-media posts and confrontational rhetoric. (WSJ) 
• The United Auto Workers union is pressing automakers for a 40% pay hike for factory workers in the next labor contract. (WSJ)
• Unionized workers at British Airways agreed to a contract that will raise their pay 13% over the next 18 months. (BBC)

The world’s shipping lines are bracing for a prolonged slump in global trade. Danish shipping giant Maersk Line is offering the sector’s grimmest assessment of the market yet, projecting declining container volumes this year and saying it is pulling out its “cost containment playbooks.” The WSJ’s Dominic Chopping reports Maersk is the latest container line to see profits retreat sharply from last year’s high levels. But Maersk says it was able to slow that decline in part through cost cuts and operating shifts such as slow-steaming, which ties up capacity. The sector-wide efforts have helped lift rates this summer on trans-Pacific lanes. The carriers are starting to take delivery of some of the mega-ships they’ve ordered over the past three strong years, however, suggesting any equilibrium they regain in supply and demand may be short-lived. Maersk isn’t expecting relief from its customers, projecting continued declines in box volumes.

• NYK Line’s quarterly income fell 58.6% but the Japanese carrier projected improved profits on automotive and energy shipping demand. (Lloyd’s List)

The U.S. economy added 187,000 jobs in July, led by hiring in education and healthcare. (WSJ)

Growth in the U.S. service sector slowed slightly last month. (MarketWatch)

German factory orders jumped in June at the fastest pace in three years. (MarketWatch)

Ukraine struck the Russian port of Novorossiysk with naval drones as fighting in the Black Sea intensified. (WSJ)

Michael Lohscheller stepped down as CEO of electric-truck maker Nikola after taking the post in January. (WSJ)

The Pentagon is poised to offer to place security forces on tankers in the Persian Gulf region to deter Iranian forces from attacking the ships. (WSJ)

Airlines in the U.S., Europe and Asia are reducing some flights and routes to inspect aircraft affected by the recall of hundreds of Pratt & Whitney engines. (WSJ)

Chinese-owned battery maker AESC is set to play a key role in Tata’s UK battery factory. (Financial Times)

The White House is proposing rules requiring federal government agencies to prioritize sustainability in purchasing when possible. (Procurement)

Overstock is attracting more suppliers after buying Bed Bath & Beyond’s intellectual property and relaunching under the bankrupt retailer’s name. (Supply Chain Dive)

Fertilizer giant Nutrien is cutting capital spending and suspending plans to ramp up potash production in a slumping global fertilizer market. (The Globe and Mail)

TikTok’s e-commerce sales in Southeast Asia have grown sevenfold in one year to make it one of the region’s top online sales platforms. (Nikkei Asia)

Pre-tax earnings at Air Transport Services Group fell 22% to $31 million in the second quarter. (Air Cargo News)

GXO Logistics’ second-quarter profit jumped 27% to $66 million on an 11% gain in revenue. (Motor Transport)

Australian retailer Jaycar Electronics has doubled handling capabilities using automation at a new Sydney distribution center. (Logistics Manager)

Daimler Truck Chief Financial Officer Jochen Goetz died in what the company called a “tragic accident.” (Associated Press)

Ohio state police shot and killed two men who stole a Werner Enterprises truck and held the driver hostage during a multicounty chase. (WHIO)

Bankrupt retailer Party City is in talks with creditors to spin off its balloon business. (Bloomberg)

Paul Page is editor of WSJ Logistics Report. Reach him at paul.page@wsj.com.

Follow the WSJ Logistics Report team: @PaulPage, @bylizyoung and @pdberger. Follow the WSJ Logistics Report on Twitter at @WSJLogistics.