Logistics

While China announced it has halted imports of American soybeans, a mysterious buyer has stepped up. The U.S. Department of Agriculture announced Aug. 7 a sale of 165,000 metric tons of the oilseed to “unknown destinations.”

The escalating trade war between the U.S. and China is nudging the world economy toward its first recession in a decade with investors demanding politicians and central bankers act fast to change course.

FedEx Corp. is ending its ground-service delivery contract with Amazon.com, a sign the delivery giant is pulling away from the largest U.S. e-commerce company and focusing on other clients in the market, such as Walmart and Walgreens.

Expeditors International of Washington Inc. on Aug. 6 reported net income rose to $153 million, or 88 cents per share. That’s up 9% from $140.6 million, or 79 cents a share, in the same quarter a year ago.

Now more than ever, Workhorse looks more like Lordstown’s lottery ticket than a savior to be taken seriously. While it’s hard to imagine at this juncture the company having the capital needed to get GM’s factory humming again, it has a ray of hope to point to: a potentially lucrative contract to build next-generation mail trucks for the U.S. Postal Service.

President Donald Trump’s top economic adviser, Larry Kudlow, said the United States still expects Chinese negotiators to come to Washington for another round of trade talks in September, even after the two nations escalated their trade war.

China responded to President Donald Trump’s tariff threat with another escalation of the trade war Aug. 5, asking state-owned companies to suspend imports of U.S. agricultural products.

Amazon.com’s last bear has given up. Allen Gillespie came into this week the only one of 55 financial analysts tracked by Bloomberg with a “sell” rating on the company’s shares. In a note to clients July 30, he upgraded the retail and technology giant to “hold.”

Raw materials are reeling after President Donald Trump threatened new tariffs on Chinese goods, dashing hopes that the two sides might soon negotiate an end to the trade war that’s sapping global growth and demand for commodities.

Shares in A.P. Moller-Maersk A/S, the world’s largest container shipping line, plunged the most in two months after President Donald Trump escalated his trade war against China.