A post-pandemic boom in U.S. manufacturing is slowing amid sagging consumer demand. The WSJ’s Bob Tita reports manufacturers are laying off employees and cutting production to counter falling orders and rising inventories. Farm-equipment maker Deere has shed about 15% of its hourly workforce since November and is making deep cuts in production to avoid large inventories of unsold equipment. Rival manufacturer Agco says it will cut 6% of its salaried workforce worldwide by the end of the year. Recreational-vehicle maker Polaris plans to cut back shipments to dealers as it sees consumers pull back on discretionary purchases. Higher interest rates, rising operating costs, a strengthening U.S. dollar and lower selling prices for commodities are dampening activity at factories across the country. The deceleration follows years of supply imbalances brought on by the pandemic and rapid shifts in consumer demand.

A Silicon Valley startup is changing the way miners find critical materials. KoBold Metals is betting it can modernize mining by using artificial intelligence to scour the earth for copper, lithium, nickel and cobalt. The WSJ’s Julie Steinberg and Scott Patterson write the company is emerging as a player in the global rush to secure the metals needed to power the transition to green energy and has become a partner for the U.S. in assessing mineral projects in Africa. KoBold, which was valued at more than $1 billion in a 2023 fundraising round, creates computer simulations of underground mineral deposits and uses algorithms to determine the best way to drill. The company is among a slew of technology businesses seeking to make industrial operations more efficient using AI. But some in the mining industry are skeptical of KoBold’s claims, and attempts at revolutionizing the industry haven’t always panned out.

Automakers are warning of profit pressures in their traditional car businesses. (WSJ)

McDonald’s same-store sales fell nearly 1% in the latest quarter. (WSJ)

Former Kansas City Southern CEO Patrick Ottensmeyer died. (WSJ)

Fast-fashion retailer Primark hired Nigel Jones as chief operating officer to oversee its supply chain. (Supply Chain Dive)

Finnish company Konecranes is establishing a network of partners including steel structure providers and subcontractors to build port cranes in the U.S. (MarineLink)

A tanker sank in the Philippines two days after another ship went down in the same area. (Splash 247)

Containerships and bulk carriers are avoiding the Cape of Good Hope in South Africa amid bad weather. (Lloyd’s List)

An Israeli strike on Yemen’s Houthi-controlled Hodeida port has caused at least $20 million in damage. (The Times of Israel)

Iran has seized a second tanker over allegations of fuel smuggling. (Reuters)

Taiwanese container line Yang Ming appointed Tsai Feng-Ming chairman. (Port Technology)

Turkey’s parliament approved plans to start taxing commercial ships for carbon emissions. (Maritime Executive)

Deadly protests are disrupting Bangladesh’s garment-manufacturing sector. (Sourcing Journal)

Altana AI raised $200 million in a Series C funding round that valued the supply-chain management startup at $1 billion. (Crunchbase)

Paul Page is editor of WSJ Logistics Report. Reach him at paul.page@wsj.com.

Follow the WSJ Logistics Report team: @PaulPage, @bylizyoung and @pdberger. Follow the WSJ Logistics Report on X at @WSJLogistics.