A.P. Moeller-Maersk AS’s third-quarter profit jumped 31% to $520 million but revenue slipped and the company cut its outlook for the container shipping business. (WSJ) The Bank of Mexico cut interest rates by a quarter percentage-point. (WSJ) OPEC lowered its oil production growth forecast for non-cartel countries for 2020. (WSJ) House Speaker Nancy Pelosi says Democrats and the Trump administration are moving toward a deal on a renegotiated trade agreement with Canada and Mexico. (WSJ) Democratic presidential candidate Joe Biden is proposing a plan to spend $1.3 trillion on U.S. infrastructure over the next decade. (WSJ) Sales of plant-based milk products have grown 6% in the U.S. in the past year while cow-milk sales have declined 3%. (MarketWatch) Japanese manufacturer Toray Industries is halting production of key components for a passenger plane Mitsubishi Aircraft Corp. is developing for global markets. (Nikkei Asian Review) U.S. imports of footwear from China fell 8.6% in September while footwear imports from Vietnam rose 11.1%. (Sourcing Journal) U.S. exports of wood pellets rose 18.7% in the first nine months of 2019 from a year ago. (Biomass Magazine) The California Trucking Association is suing the state over its sweeping new labor law involving independent-contractor workers. (Associated Press) Navistar Inc. says the strike against General Motors Corp. cost the truck manufacturer about $140 million in revenue. (Commercial Carrier Journal) Civil unrest in Chile spread to the country’s ports as dockworkers went on strike. (Maritime Executive) Maritime insurer TT Club says incidents of fires on container ships have doubled in frequency this year. (Lloyd’s List) India’s Adani Ports and Special Economic Zone Ltd. trimmed its outlook on decelerating shipping volumes. (LiveMint) Michigan-based auto parts supplier Meritor Inc. named Dan Crabtree vice president for its global supply chain. (Automotive Logistics) The Port of Oakland named interim executive director Danny Wan to the position on a permanent basis. (American Shipper) |