A measure of U.S. consumer confidence jumped in June to its highest level since the pandemic. (MarketWatch) Amazon is seeking recusal of new Federal Trade Commission Chairwoman Lina Khan from antitrust investigations of the company. (WSJ) Boeing is expected to name Brian West, a veteran of engine maker General Electric, as its next chief financial officer. (WSJ) Chinese ride-hailing giant Didi Global raised about $4.4 billion in its initial public offering. (WSJ) General Mills says consumer demand remains volatile this year amid rising commodity and shipping costs. (Dow Jones Newswires) The Department of Transportation gave out $905 million in infrastructure grants, including funding for freight projects in Georgia and Iowa. (Associated Press) Logistics constraints including “out of control” trucking rates are hampering U.S. steel manufacturers. (S&P Global Platts) Mobile phone makers Nokia, Samsung and others are setting up manufacturing ventures in Bangladesh to avoid the country's high import tariffs. (Nikkei Asia) Winnebago Industries is trying to increase production to meet a backlog of “almost a year's worth of demand” for motorhomes. (Supply Chain Dive) The Commonwealth Bank of Australia is winding down its $2 billion shipping portfolio and withdrawing from the sector. (Lloyd’s List) A new report says detention and demurrage charges for holding container shipments doubled over the past year. (Journal of Commerce) Lloyd’s Register is selling its business assurance and inspection services division to focus on maritime business. (Maritime Executive) Rail equipment manufacturer FreightCar America is one of several companies that received Paycheck Protection Program loans before laying off workers. (ProPublica) Cargo and passenger flights world-wide remain 37% behind the pre-pandemic level two years ago. (Dow Jones Newswires) Cummins is taking a 50% stake in Momentum Fuel Technologies as part of a joint venture to create natural gas fuel delivery systems. (Heavy Duty Trucking) Refrigerated transport specialist Hirschbach Motor Lines is acquiring Lessors in a deal that brings in 200 drivers. (Fleet Owner) Drone delivery startup Zipline raised $250 million in a funding round valuing the business at $2.75 billion. (TechCrunch) Germany’s Hellmann Worldwide Logistics plans to launch cross-border drone delivery service next year. (Splash 247) |