U.S. imports of goods and services fell in the final two quarters of last year, and exports fell in the fourth quarter. (WSJ)
A.P. Moeller-Maersk warned of declining demand this year after fourth-quarter revenue and profit fell on a 14% drop in shipping volumes. (Dow Jones Newswires)
Labor Secretary Marty Walsh plans to leave the Biden administration. (WSJ)
Mitsubishi Heavy Industries pulled the plug on an expensive, long-running passenger-jet project aimed at taking a chunk of the U.S. market. (WSJ)
Boeing is cutting about 2,000 jobs, mainly in finance and human resources. (WSJ)
BP is slowing its shift to lower-carbon energy and increasing the oil-and-gas production that helped push the company to a record profit. (WSJ)
Hedge fund Hudson Bay Capital Management is the main backer of a big financial package aimed at rescuing retailer Bed Bath & Beyond. (WSJ)
Japanese semiconductor equipment suppliers are starting to set up North American operations near chip manufacturers. (Nikkei Asia)
Trucker TFI International disclosed that it has taken a 4% stake in Arkansas-based less-than-truckload business ArcBest. (Truck News)
A regulatory judge ruled that ocean carriers can’t require that truckers use specific intermodal chassis providers. (Commercial Carrier Journal)
Sea-Intelligence says strong improvement in container shipping schedule reliability flattened out at the end of 2022. (Port Technology)
Plummeting container ship values are triggering turmoil over loans completed at the high point in the market. (TradeWinds)
CMA CGM has been eyeing an acquisition of the logistics arm of French conglomerate Bollore. (Bloomberg)
Manufacturing of shipping containers plunged 47% last year from 2021’s record level. (Lloyd’s List)
Turkey-based fast-delivery firm Getir held merger talks late last year with German startup Flink. (The Information)
Apparel maker Intradeco Holdings acquired thermal underwear supplier Indera Mills. (Fashion Network)
|