Activist investor HG Vora Capital Management is offering to acquire fleet-management and supply-chain operator Ryder System in a $4.4 billion deal. (WSJ)
A measure of U.S. consumer sentiment fell to a 10-year low. (MarketWatch)
A shortage of baby formula in the U.S. is leading desperate parents to drive hours in search of supplies while manufacturers say they are working to increase production. (WSJ)
Shanghai officials plan to begin a phased reopening of the city’s businesses starting today. (WSI)
The Cass Freight Index for domestic U.S. shipments slipped 0.5% in April from last year even as expenditures rose 30.6%. (Dow Jones Newswires)
United Airlines reached a tentative contract agreement with the union representing its pilots. (WSJ)
Ford sold another 7 million shares from its stake in electric-vehicle startup Rivian Automotive. (WSJ)
The world’s largest carmakers are warning that supply-chain disruptions and higher raw material prices threaten the rollout of electric vehicles. (Financial Times)
China’s electric-vehicle battery makers are being hit hard by rising raw materials costs. (Caixin Global)
Top Chinese chipmaker SMIC says demand for mobile phones, personal computers and home appliances has dropped “like a rock.” (Nikkei Asia)
First-quarter profit at South Korean shipping line HMM rose nearly 20-fold to about $2.4 billion on revenue of $3.8 billion. (Korea JoongAng Daily)
Container lines say sliding freight rates could cut into their earnings this year. (The Loadstar)
Orders for new container ships now are equivalent to nearly 30% of the capacity of the existing fleet. (Lloyd’s List)
CMA CGM will start offering payments to shippers that return empty containers more quickly. (DC Velocity)
Truckload carrier U.S. Xpress laid off about 70 workers at its Chattanooga, Tenn., headquarters after reporting an $8.9 million first-quarter loss. (Chattanooga Times Free Press)
Electronic components maker Avnet is building a factory in Eschbach, Germany, and a 600,000-square-foot distribution center in Bernburg, Germany. (Modern Distribution Management)
Road freight costs in the greater London area have risen to twice the level of the rest of the U.K. (Motor Transport)
European regional logistics operator DFDS’s April freight volumes were up 5.4% from last year. (Logistics Manager)
Nearly half of companies responding in a survey say they have no plans to add robotics to their warehousing operations. (Modern Materials Handling)
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