The IMF again cut its outlook for the global economy, forecasting 3.2% growth this year and 2.9% expansion in 2023. (WSJ)
A measure of U.S. consumer confidence fell in July for the third straight month. (MarketWatch)
European countries agreed to sweeping cuts to natural-gas consumption, prompted by the threat of a Russian supply cutoff. (WSJ)
Second-quarter profit at General Motors tumbled 40% on losses in China and supply chain troubles that left GM holding tens of thousands of unfinished vehicles. (WSJ)
Electric-vehicle maker Faraday Future is delaying production of its first vehicle, citing supply chain issues and the need to raise more cash. (WSJ)
General Electric’s aviation revenue rose 27% in the past quarter even as supply chain problems reduced engine deliveries. (WSJ)
Coca-Cola raised its annual outlook on continuing strong demand for its beverages despite price increases. (WSJ)
Sales at luxury giant LVMH increased 28% to $37.1 billion in the first half of the year. (WSJ)
China’s exports of electric vehicles to Western Europe and Southeast Asia more than doubled in the first half of the year. (Caixin Global)
Air France-KLM is moving to take full commercial control of the CMA CGM Air Cargo business. (The Loadstar)
U.S. liquefied natural gas exporter Cheniere Energy struck a 20-year agreement with Thailand state-owned energy company PTT. (Splash 247)
Landstar is telling owner-operators in California they need to relocate out of state to remain independent contractors with the truckload carrier. (Transport Dive)
Union Pacific CEO Lance Fritz says freight railroads and unionized workers remain “pretty far apart” over wages in their contract negotiations. (Yahoo Finance)
Both BNSF Railway and Union Pacific are now metering container volume out of the ports of Los Angeles and Long Beach. (Journal of Commerce)
RoadOne Intermodal Logistics will work with IKEA and Nikola to test the use of electric trucks at the Port of Baltimore. (Sourcing Journal)
The Pacific Merchant Shipping Association says nut exports through California ports are growing at a double-digit pace. (AJOT)
A minority-owned truck driving school in Colorado is committed to bringing more people of color into the industry. (Colorado Public Radio)
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