The International Monetary Fund cut its outlook for global economic growth this year to 3.6%, down from 6.1% in 2021. (WSJ)
The IMF further slashed its growth forecast for China this year to 4.4%, far below Beijing’s 5.5% target. (WSJ)
The dollar surged to a 20-year high against the Japanese yen. (Reuters)
Shanghai-region manufacturers looking to resume production are hamstrung by parts and labor shortages. (South China Morning Post)
A South Korean consortium led by LG Energy Solution will invest $9 billion in Indonesia to build a mines-to-manufacturing electric vehicle supply chain. (Financial Times)
Federal Maritime Administration Chairman Daniel Maffei says he plans to get more aggressive in investigating shipping lines’ behavior. (ShippingWatch)
Container xChange says sea container prices are tumbling as companies look to sell boxes because of tight storage space. (DC Velocity)
Container dwell times at Southern California big seaports are rising again after several months of improvements. (Dow Jones Newswires)
U.S. regulators approved the Port of Long Beach, Calif.’s plan to develop a $1.5 billion on-dock rail facility. (Journal of Commerce)
Port Houston’s container volumes expanded 20% year-over-year in the first quarter, including a 26% increase in loaded container imports. (Maritime Executive)
Amazon will have former attorney general Loretta Lynch do a racial equity audit for its hourly workers in response to shareholder requests. (CNBC)
Low-price retailer Five Below plans to increase its footprint to 3,500 stores over the next nine years. (Business Journals)
Utah-based Alpine Air Express acquired fellow regional cargo operator Suburban Air Freight. (Air Cargo World)
Life sciences logistics provider Cryoport extended its expansion into Europe with the acquisition of Cell&Co BioServices. (BioPharma Reporter)
An investor group led by AOI Capital acquired warehouse and fulfillment provider RK Logistics. (AJOT)
Japan's Mitsubishi Heavy Industries plans to develop nuclear reactors small enough to be delivered on trucks by the end of the next decade. (Nikkei Asia)
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