FedEx is using higher prices to offset the impact of rising costs and slipping package demand. The delivery giant’s overall profit rose 25% from a year earlier to $1.1 billion in its fiscal third quarter. The WSJ’s Paul Ziobro reports the improvement came even as FedEx’s business units saw widely different results in the critical quarter that includes the holiday shipping season. FedEx shipped on average 16.8 million parcels a day in the three months ended Feb. 28, down from 17.6 million the year before, as the boom in demand from the pandemic wanes. Revenue per package in the Express segment jumped 15% from last year, however, and the measure of yield was also up 9% in the Ground segment that serves the e-commerce sector. The biggest boost came from unlikely directions, with revenue at the Freight segment jumping 23% and the operating margin at the trucking unit more than doubling.

A labor dispute has Canadian shippers facing disruptions as soon as this weekend. Canadian Pacific Railway says it will lock out employees Sunday if it can’t get a new contract or an agreement for binding arbitration with Teamster-represented workers. The WSJ’s Jacquie McNish writes an impasse would strand large volumes of manufacturing and consumer goods, and potentially stall shipments of potash ahead of the spring planting season. Canadian Pacific is a major carrier of the fertilizer and demand for the commodity has grown significantly since Western sanctions blocked supplies from Russia and Belarus. The farm sector could use some stability. Grain shipments carried by Canadian railroads are down by more than a quarter so far this year, according to the Association of American Railroads. A deadlock would also end a period of relative labor stability in North America even as broader events have roiled global supply chains.

• Canadian fertilizer supplier Nutrien is raising its potash production  in response to supply uncertainty. (Globe and Mail)

Chinese authorities at the highest levels are trying to limit the impact of Covid-19 lockdowns on the country’s economy. President Xi Jinping is asking officials to stem outbreaks at “the smallest cost,” the WSJ’s Liyan Qi reports, an acknowledgment of economic peril as concerns grow about the impact on global trade. China’s big ports are still operating but logistics companies say freight flows are slowing because of restrictions on intercity trucking. Supplier deliveries to global customers are likely to slow as factories in the manufacturing regions around Shenzhen and Changchun resume production after being closed for several days. Covid cases appear to be abating. Mr. Xi’s attention to the fallout on the country’s economy may be the best sign that the rest of the world could sidestep bigger supply chain disruption.

Here are recent developments following Russia’s invasion of Ukraine:

Desperation among civilians in Mariupol is mounting as Russia mounts an offensive to take the Ukrainian port city. (WSJ)

The U.S. House easily passed legislation to end normal trade ties with Russia. (WSJ)

India is considering a rupee-ruble trade arrangement with Moscow to enable exports to Russia to continue despite Western sanctions. (Financial Times)

A United Nations agency says the war in Ukraine will lead to higher freight rates world-wide. (Lloyd’s List)

Koch Industries plans to maintain its business in Russia. (WSJ)

For the latest updates from Russia and Ukraine, click here.

Weekly initial jobless claims in the U.S. declined and the number of continuing claims fell. (WSJ)

U.S. industrial production rose 0.7% in February, excluding a 3.5% decline in the automotive sector. (MarketWatch)

U.S. retailers are seeing shoppers push back on price increases and walk away from higher-cost items. (WSJ)

Contract electronics manufacturer Foxconn is forecasting a tougher operating environment this year. (WSJ)

Eyewear seller Warby Parker plans to open 40 stores this year as the online eyewear merchant accelerates its move toward brick-and-mortar sales. (WSJ)

Rising commodity costs are driving up prices for electric vehicles in China. (South China Morning Post)

Garment manufacturers in Sri Lanka are struggling to keep operations running as the country copes with an energy crisis. (Sourcing Journal)

Walmart will shift fulfillment to other sites while authorities investigate a fire that engulfed a 1.2 million-square-foot distribution center outside Indianapolis. (Indianapolis Star)

U.K.-based P&O Ferries' move to abruptly fire 800 workers and replace them with cheaper staff is prompting protests and criticism. (BBC)

Alphaliner says shipping lines are moving regional container vessels from the Baltic region to trans-Atlantic lanes. (The Loadstar)

A large UAE-flagged car carrier sank in stormy seas in the Persian Gulf and 30 crew members were rescued. (Associated Press)

Authorities say it could take days or even weeks to free a container ship that ran aground in the Chesapeake Bay. (Baltimore Sun)

Evergreen Marine added three ultra-large container ships to its orders with China’s Hudong Zhonghua Shipbuilding. (Splash 247)

Authorities in Texas plan to develop a 2,000-acre logistics center at the Port of Victoria south of Houston. (Progressive Railroading)

Taiwanese freight forwarder Dimerco more than doubled its annual profit last year to about $81.2 million. (Taipei Times)

CBRE says transactions involving warehouses larger than 200,000 square feet increased 29% last year. (Logistics Management)

U.K. food-delivery company Deliveroo expects to achieve a measure of profitability by 2026. (Financial Times)

Google is adding tools to optimize last-mile delivery to its mapping operation. (TechCrunch)

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

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