Revised estimates showed U.S. economic output contracted 1.6% in the first quarter, more than reported earlier. (WSJ)
OPEC members and its allies have fallen far behind their oil-production targets. (WSJ)
Bed Bath & Beyond ousted CEO Mark Tritton after sales plummeted following his moves toward leaner store inventories. (WSJ)
The death toll from the discovery of dozens of migrants being smuggled in a tractor-trailer rose to 53. (WSJ)
Tesla is closing one of its Silicon Valley offices and laying off about 200 people as part of its wider plans to cut costs. (WSJ)
Several food-industry executives say labor pressures are starting to ease for entry-level positions. (WSJ)
General Mills expects its costs to rise at a double-digit pace over the next year. (WSJ)
Grubhub's CEO says parent company Just Eat Takeaway hopes to find a strategic partner to invest in the U.S. online ordering business. (WSJ)
China’s Tianqi Lithium plans to raise the equivalent of up to $1.7 billion in a Hong Kong initial public offering. (WSJ)
German industrial companies expect the supply-chain issues that have disrupted production to hamper output through next year’s first quarter. (Bloomberg News)
New owners took over fiber maker Lycra after the parent company fell behind on loan payments. (Sourcing Journal)
Spot-market rates for very large crude carriers jumped 24% in a single day this week. (TradeWinds)
BNSF Railway is limiting shipments of diesel and other fuel products into California, citing labor and weather constraints. (Transport Dive)
Airfreight rates out of Bangladesh are plummeting on declining demand in North America for apparel. (The Loadstar)
A Japanese startup is close to selling a robot with a sense of touch similar to that of humans. (Nikkei Asia)
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