U.S. inflation surged to a four-decade high of 8.5% in March while a measure stripping out food and energy prices slowed. (WSJ)
OPEC slashed its forecasts for global economic growth for the year to 3.9% from an earlier assessment of 4.2%. (WSJ)
General Motors struck a multiyear agreement to source cobalt from commodities firm Glencore. (WSJ)
Toyota told suppliers it plans to cut global output next month by 10%, or around 700,000 vehicles. (Nikkei Asia)
European aviation regulators will withdraw approval of transport of cargo in passenger aircraft cabins after July 31. (Air Cargo News)
Grocery chain Kroger is getting into the restaurant supply business with next-day delivery in the Dallas area. (Supply Chain Dive)
Supermarket chain Lidl bought one midsize container ship and chartered three smaller vessels from German owners for its nascent Tailwind Shipping Lines operation. (TradeWinds)
A surge in minerals exports from Australia is providing a boost to dry-bulk ship operators. (Lloyd’s List)
Officials at the busiest U.S. Southeast ports are signaling they expect continued backups of vessels at their gateways through this summer. (Journal of Commerce)
Container ship owner Danaos ordered four midsize vessels with methanol fuel capability. (ShippingWatch)
The Port Authority of New York and New Jersey named deputy port department director Beth Rooney to succeed Sam Ruda as head of the department. (Progressive Railroading)
Private-equity firm Red Dog Equity is combining two U.S. regional parcel carriers to help build a national last-mile delivery network. (DC Velocity)
Quarterly profit at British online fashion retailer Asos tumbled 87% on rising logistics costs and slowing sales growth. (Financial Times)
Amazon is launching a recruiting push for its warehouses aimed at teens who are about to graduate from high school. (The Information)
United Parcel Service is seeking metaverse trademarks for services in areas that include “virtual goods” and “virtual retail shipping.” (Business Journals)
CORRECTION: Supply-chain visibility startup Tive raised $54 million in a Series B funding round. An item in yesterday’s newsletter misstated the amount raised
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