New applications for unemployment benefits in the U.S. inched down last week. (WSJ)
Kohl’s quarterly earnings plunged 63% as comparable-store sales fell 7.7% while inventories expanded 48%, a faster rate than the first quarter. (WSJ)
Deaths on U.S. roads reached the highest level in the first quarter in 20 years. (WSJ)
Cisco Systems raised its outlook on what it says is an easing semiconductor shortage. (Bloomberg)
A teardown of Amazon’s latest Echo speaker suggests the company has cut its components costs for the device by half. (Nikkei Asia)
Spot rates for the bulk sector’s largest capesize ships plunged 20% in one day to a seven-month low. (TradeWinds)
DP World expects shipping growth to slow this year after like-for-like revenue rose 20% in the first half of the year on a 2.3% increase in container volumes. (Dow Jones Newswires)
Hutchison Ports will invest $700 million in two Egyptian ports under a concession agreement. (Maritime Executive)
Mediterranean Shipping Co. named onetime CMA CGM senior executive Nicolas Sartini to lead the company’s Bolloré Group logistics business. (The Loadstar)
European regional shipping line MPC Container Ships boosted its full-year outlook on expectations for high freight rates for several more quarters. (ShippingWatch)
Freight booking platform Freightos says global airfreight rates are down nearly 50% from last year’s peak season. (Air Cargo World)
Daimler Truck named longtime Daimler executive Peter Vaughan Schmidt CEO of its Torc Robotics autonomous vehicle subsidiary. (Heavy Duty Trucking)
Singapore’s three largest food-delivery companies formed an association to address worker health and safety in the sector. (Straits Times)
Tech components supplier Digi-Key Electronics opened a 2.2 million-square-foot distribution center in the northern Minnesota town of Three River Falls. (Minneapolis Star-Tribune)
Freight-focused financial technology startup AtoB raised $155 million in a Series B funding round. (DC Velocity)
San Francisco-based last-mile routing software startup HyperTrack raised $25 million in a Series A funding round. (TechCrunch)
Cameroon’s cocoa bean exports rose 10% in the just-ended 2021-22 season. (Dow Jones Newswires)
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