Electric-vehicle startup Rivian Automotive is laying off 6% of its 14,000 employees as it seeks to conserve cash. (WSJ)
Apple’s profit fell 10.6% last quarter but the company expects revenue to accelerate on resilient iPhone sales. (WSJ)
Harley-Davidson’s quarterly sales volume fell by nearly a third as supply-chain problems drained motorcycle inventories. (WSJ)
Higher commodities, freight and energy costs are eating into margins at packaged-foods giant Nestle. (WSJ)
Hershey raised its annual outlook after the sweets supplier’s revenue and profit expanded in the second quarter. (WSJ)
Quarterly revenue growth at Samsung Electronics slowed to 21.6%. (WSJ)
Dockworkers at the Port of Felixstowe, the U.K.’s largest port, voted to strike next month after they were offered a below-inflation pay increase. (The Guardian)
Chinese electric car maker BYD is considering buying its own shipping vessels. (Lloyd’s List)
Shipping line Hapag-Lloyd raised its earnings guidance to as much as $20 billion, saying strong freight rates are offsetting flat container volumes. (ShippingWatch)
DP World’s volume across its global terminal network increased 2.8% in the second quarter to the equivalent of 20.2 million containers. (Port Technology)
Navios Maritime’s quarterly earnings jumped about 18% to $118.2 million as the ship owner said it would add 36 dry-bulk vessels to its fleet. (Dow Jones Newswires)
Winsupply is working with Drone Express to develop drone delivery for the industrial distributor’s parts. (Dayton Daily News)
Truck maker Paccar delivered 46,900 trucks last quarter, up 17% from last year. (Fleet Owner)
Old Dominion Freight Line is advancing plans to open several service centers this year despite slowing volume growth in its less-than-truckload network. (Dow Jones Newswires)
Schneider National raised its profit outlook for the year even as the trucking and intermodal operator projected moderating freight demand. (Dow Jones Newswires)
Canadian Pacific Railway’s net profit fell sharply to about $596 million despite a 7% increase in revenue. (MarketWatch)
Freight forwarder DB Schenker’s revenue climbed 35% and operating profit nearly doubled despite declining volumes across its services. (The Loadstar)
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