Government officials and business leaders are turning their attention to a looming challenge: Reopening a $22 trillion U.S. economy. (WSJ) Amazon will halt a delivery service for non-Amazon packages, an offering that competes directly with FedEx and United Parcel Service. (WSJ) CMA CGM plans to idle up to 15 ships as trade demand wanes. (WSJ) JPMorgan Chase says companies have already drawn down more than $50 billion in credit lines to prepare for the pandemic fallout. (WSJ) Honda and Nissan combined are furloughing around 24,400 workers at U.S. auto assembly plants. (WSJ) India is lifting a ban on the export of an antimalarial drug that some believe may help treat victims of the new coronavirus. (WSJ) Samsung Electronics bucked broader trends with a projected 2.7% increase in first-quarter profits. (WSJ) Electric-pickup truck startup Rivian Automotive is pushing back the launch of its debut model. (WSJ) Deutsche Lufthansa is permanently grounding one of its low-cost airlines and retiring dozens of aircraft. (WSJ) Darden Restaurant and Denny’s sales at their casual restaurant chains have plummeted in recent weeks. (WSJ) Food distributor US Foods is striking agreements with grocery chains as business with major customers has faded. (Progressive Grocer) Recreational-goods retailer REI is closing its 162 stores furloughing many of its 14,000 employees for 90 days. (Seattle Times) Shipment tracking specialist Four Kites says the time truckers wait at company docks rose sharply in March. (Logistics Management) U.S. agriculture exporters want the Trump administration to intervene over shipping line charges for holding shipments. (Lloyd’s List) A 'K' Line container ship crashed into a Port of Busan terminal dock, collapsing three gantry cranes. (Splash 247) E-commerce platform Shippo raised $30 million in a Series C funding round. (VentureBeat) Last-mile delivery logistics specialist Bringg raised $30 million in a Series D funding round. (TechCrunch) Singapore’s government is funding commission fees for food delivery fees under the country’s lockdown. (Nikkei Asian Review) |