Oil futures slip below $100 a barrel on fears of global economic headwinds and Covid-19 lockdowns in China. (MarketWatch)
Toyota is projecting a 21% drop in profits this fiscal year as higher materials costs offset growing revenue. (WSJ)
Peloton Interactive says excess inventories contributed to a $757.1 million loss last quarter. (WSJ)
Armstrong Flooring filed for bankruptcy protection on the impact of supply-chain disruptions and rising materials and transportation costs. (WSJ)
Amazon is recruiting mom-and-pop shops in rural America to test delivery of the company’s packages through the stores. (Vox)
The CEO of Stellantis says the U.S. and Europe must produce more electric-vehicle batteries to keep pace with demand. (The Detroit News)
Panasonic is considering building a new battery plant in the U.S. to supply Tesla. (Nikkei Asia)
Problems implementing an enterprise resource planning software system cost J&J Snack Foods some $20 million in second-quarter revenue. (Supply Chain Dive)
KKR is expanding its warehouse investment business to include development of new distribution centers. (Bloomberg)
The Baltic Dry Index for commodities shipping rates reached its highest level since mid-December. (TradeWinds)
Beijing will allow non-Chinese container lines to serve domestic shipping lanes between four ports. (Lloyd’s List)
The U.S. Maritime Administration raised the funding for port infrastructure grants this year to $684.3 million. (Maritime Executive)
Rail regulators will require the four largest U.S. railroads to provide weekly updates on their service recovery plans. (Logistics Management)
Industrial parts distributor DXP Enterprises plans to make more acquisitions after increasing revenue 30% in the first quarter. (Industrial Distribution)
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