The U.S. economy added 428,000 jobs last month as service and hospitality companies stepped up hiring. (WSJ)
Average hourly earnings for U.S. private-sector workers rose 5.5% in April, a pace behind the inflation rate. (WSJ)
Production in Germany’s manufacturing sector slumped 3.9% in March. (WSJ)
Under Armour has been canceling orders as it deals with production constraints and shipping delays from Covid-related restrictions in China. (WSJ)
Lucid’s losses narrowed in the first quarter as the electric car maker said it plans to raise prices starting in June. (WSJ)
Goodyear Tire & Rubber’s first-quarter sales rose as the tire maker’s price increases outpaced surging costs. (WSJ)
Tesla struck a deal with Vale for a long-term supply of nickel from the mining giant’s Canadian mines. (Financial Times)
U.S. maritime regulators want the three major container shipping alliances to report more detailed information on pricing and capacity. (Journal of Commerce)
China’s national energy company ordered 12 new liquefied natural gas tankers for $2.4 billion. (Splash 247)
The U.S. trucking sector added 13,000 jobs in April after payrolls fell by 3,400 jobs in March. (Dow Jones Newswires)
Swedish electric maker Volta Trucks plans to launch its commercial vehicles in North America by the end of next year. (Motor Transport)
Freight broker Echo Global Logistics is acquiring New Jersey-based refrigerated trucking operator Roadtex. (NJBiz)
The U.S. Postal Service lost $1.7 billion in its fiscal second quarter despite rising revenue and volume. (Logistics Management)
Venture-capital firms are pouring money into startups offering ways to make freight transport more efficient. (The Economist)
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