U.S. households boosted spending ahead of projections in April, in the fourth straight monthly increase. (WSJ)
A measure of inflation in the U.S. pulled back slightly in April. (WSJ)
Iranian military forces seized two Greek-flagged oil tankers in Persian Gulf waters. (WSJ)
Demand for gasoline this month fell to one of its lowest levels ahead of the summer in nearly a decade. (WSJ)
Futures prices for lumber for July delivery have crashed by 52% from a high in early March. (WSJ)
Quarterly sales at big-box chain Big Lots and sporting-goods retailer Hibbett declined at a double-digit pace. (WSJ)
Rivian Automotive’s manufacturing engineering chief is leaving the electric-vehicle maker as part of a broader management reshuffling. (WSJ)
Oil prices cleared $120 a barrel in trading Monday. (Financial Times)
Stellantis replaced its head of supply chain for North America after a recent report that was critical of the auto maker’s relationships with suppliers. (Detroit Free Press)
Toyota cut its production target for June by another 50,000 vehicles. (Nikkei Asia)
Container line Cosco Shipping is predicting a strong rebound in freight volume and rates after the Shanghai lockdown is lifted. (Lloyd’s List)
Brazil is importing record amounts of fertilizer as it seeks to increase soybean production. (Bloomberg News)
A federal court ruled that an operation transshipping Alaskan seafood shipments through Canada to the lower 48 states violates the Jones Act. (Maritime Executive)
Rapid-delivery Gopuff is closing or suspending operations at 22 of its warehouses across the U.S. (Insider)
E-commerce delivery startup ShipX acquired Princeton Logistics and its TriStar Carriers trucking fleet. (DC Velocity)
Shoe manufacturer Dr. Martens is closing its Portland, Ore., distribution center and shifting operations to a new warehouse in Los Angeles. (Footwear News)
Developer Stonemont Financial is building a 1.1 million-square-foot speculative distribution center in Port St. Lucie, Fla. (TCPalm)
The price of shipping’s very-low sulfur fuel oil in Singapore has jumped more than 20% since mid-April to more than $1,000 per metric ton. (Splash 247)
Container terminal operator DP World says it will use metaverse technology to solve problems in ocean freight handling. (The National)
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