Logistics
Manufacturing Bounces Back in June on Reopenings
Ford employees work on a ventilator at a plant in Michigan on May 13. (Carlos Osorio/Associated Press)
U.S. manufacturing rebounded in June as major parts of the country opened back up, ending three months of contraction in the sector caused by the coronavirus pandemic.
July 1, 2020Commodity Freighters Are Shrugging Off COVID-19 — For Now
Freighter ships sit anchored off the coast of Ladysmith, British Columbia, in February. (James MacDonald/Bloomberg News)
The cost of moving commodities like coal and iron ore across the world’s oceans is surging as China lifts cargo purchases. Whether the rally will withstand the economic aftershocks of the coronavirus is a thornier question.
July 1, 2020OPEC Cuts Output to Lowest Since 1991 as Virus Slams Oil Demand
Flames burn off an oil processing facility in Saudi Arabia in October 2018. (Simon Dawson/Bloomberg News)
OPEC slashed oil production to the lowest level since the Gulf War in 1991, as it escalated efforts to revive global markets just as a resurgence of the coronavirus is threatening demand again.
July 1, 2020FedEx Posts Loss in Q4, Shows Improvement From Year Ago
A FedEx worker wearing a mask unloads a truck in Dallas, on May 27, 2020. Texas Gov. Greg Abbott allowed bars to open their doors at reduced capacity in the second phase of the state’s plan to restart the economy. (Cooper Neill/Bloomberg News)
FedEx said its fourth-quarter net income was a loss of $334 million, or negative $1.28 a share, compared with a loss of $1.97 billion, or negative $7.56 a share, in the 2019 period.
July 1, 2020Mark-It Express Acquires Sava Transportation
Mark-It Express
Mark-It Express Logistics took another step in its expansion plans by acquiring the operating assets of Sava Transportation, the company announced June 30. Terms were not disclosed.
June 30, 2020Saudi Oil Cuts Take Seven Supertankers a Day Off the Market
Oil tankers are seen off the coast of California on May 1. (Patrick T. Fallon/Bloomberg News)
Saudi Arabia seems to have made good on its promise to cut oil production by a record amount in June.
June 30, 2020Uber Reportedly in Talks to Buy Delivery Rival Postmates
A Postmates delivery person stands outside a Shake Shack restaurant in Washington on April 20. (Andrew Harrer/Bloomberg News)
Uber Technologies Inc. is in talks to purchase Postmates Inc., said a person familiar with the discussions, seeking to expand food delivery services in the U.S. and capitalize on a surge in orders during the coronavirus pandemic.
June 30, 2020Amazon to Pay One-Time Bonuses of $500 to Most Logistics Workers
An employee packs boxes at an Amazon fulfillment center. (Jason Alden/Bloomberg News)
Amazon.com Inc., after complaints about ending pandemic hazard pay, will give one-time bonuses of $500 to most frontline workers.
June 29, 2020Meat Shortages Reopen Costly Path to Small US Slaughterhouses
Angus bulls stand in pens prior to an auction in Wisconsin in April 2019. (Daniel Acker/Bloomberg News)
When coronavirus outbreaks forced shutdowns at America’s giant meat plants, it quickly created a bottleneck.
June 26, 2020Oil Rises on Russian Export Cuts, Offsets Virus Demand Jitters
Oil refineries and storage tanks are seen from a boat off the coast of Singapore on May 25. (Lauryn Ishak/Bloomberg News)
Oil prices rose after Russia slashed exports of its flagship crude Urals to the lowest in at least 10 years, signaling the determination of Moscow to work with its partners at OPEC+ to eliminate an oil glut.
June 25, 2020