FedEx founder Fred Smith will step down as CEO to become executive chairman, and President and COO President Raj Subramaniam will replace him. (WSJ)
The dollar rose to a more than six-year high against the yen. (WSJ)
Growing business investment in technology and other capital spending could increase productivity. (WSJ)
Walmart is ending cigarette sales in some U.S. stores. (WSJ)
Electronics manufacturer HP is buying videoconferencing gear maker Poly for about $1.7 billion. (WSJ)
Apple is slashing production of its iPhone SE by 20% and cut orders for its AirPod earphones by 10 million units. (Nikkei Asia)
Sports apparel maker New Balance opened a manufacturing facility in Methuen, Mass. (CNBC)
E-commerce and gaming company Sea is withdrawing from India’s retail market. (Reuters)
The ports of Long Beach and Los Angeles will add a fee of $10 per 20-foot container to fund a clean-trucks initiative (Modern Materials Handling)
Salvors plan to use five tugboats in a bid to free the grounded Ever Forward from its resting place in the Chesapeake Bay. (gCaptain)
Taiwanese carrier Wan Hai Lines ordered five mid-sized container ships. (Lloyd’s List)
A state budget proposal would shut down faltering bulk handling operations at South Carolina’s Port of Georgetown. (Post and Courier)
A University of Arkansas study found that mandatory electronic logging devices on trucks haven’t reduced road accidents. (Heavy Duty Trucking)
Wedding planners are coping with supply chain shortages of key event materials. (Boston Globe)
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