Oil prices are retreating from recent highs on growing concerns that an economic slowdown will clip demand. (WSJ) The euro neared a 20-year low against the dollar amid a broad flight to the U.S. currency around the world. (WSJ) U.S. factory orders jumped 1.6% in May, largely because of rising prices for petroleum-related products. (MarketWatch) Accelerating inflation is rippling through Asia-Pacific countries including Australia, South Korea and the Philippines. (WSJ) Overall sales in the U.S. automotive sector fell 11% in June and were down 8.1% in the first six months of the year. (WSJ) The Stellantis union in Italy says the semiconductor shortage will cut the auto maker’s output there by some 220,000 vehicles this year. (Reuters) Car makers had their worst June for sales in the U.K. since 1996. (Bloomberg) Container xChange says U.S. ports on average have far larger detention and demurrage charges than ports in other countries. (The Loadstar) Hapag-Lloyd is adding congestion surcharges at two French ports after warning that bottlenecks at European ports are growing. (Maritime Executive) Shipowners willing to transport Russian crude from Eastern Russia to China are reaping big earnings. (ShippingWatch) Maersk Line resigned from the International Chamber of Shipping as it seeks more aggressive action on environmental issues. (Lloyd’s List) An accident involving a Waymo autonomous truck raises questions about whether local authorities and law enforcement are prepared to cope with self-driving tractor-trailers. (TechCrunch) Royal Mail managers plan to strike this month over proposed job and pay cuts at the U.K. postal operator. (Financial Times) Amazon will deliver packages in central London through e-bikes and walking rather than delivery vans. (Press Association) |