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Global Trade & Economics: Page 203

Ukraine Crop Deal Misses Target as Russia Slow-Walks Ship Checks

The delays are weighing on farmers’ incomes and raising costs for traders, so that growing and shipping Ukrainian crops becomes increasingly challenging.

Photo: Bloomberg

Dell to Cut 5% of Global Workforce as ‘Uncertain Future’ Looms

The Dell cuts have been announced against a backdrop of widespread lay-offs in the tech sector, despite the wider U.S. economy adding 517,000 jobs in January.

Photo: iStock.com/Thinglass

‘Shadow Fleet’ of Tankers Hauling Russian Oil Swells to 600 Ships, Trafigura Says

The European Union has imposed a ban on almost all seaborne imports of Russian refined fuels from February 5, two months after imposing a prohibition on crude oil.

Photo: Bloomberg

Slowdown in Warehouse Construction Could Extend Shortfall of Space, Experts Say

Vacancy rates are ticking up, but the increases have been slim, and space in big markets remains scarce.

Warehouse Exterior Old

Mexico’s Industrial Hubs Grow as Part of Shift Toward Nearshoring

The pace of the growth is putting a premium on logistics capabilities, including distribution centers positioned to quickly reach U.S. customers.

Photo: iStock / natatravel

FedEx to Cut Management Jobs by More Than 10%, CEO Says

The slump in parcels is industry-wide, with rival United Parcel Service Inc. reporting on January 31 lower U.S. volumes and a forecast for declining sales in 2023.

Photo: Bloomberg

Truck Freight Volumes Continued Decline in Fourth Quarter — U.S. Bank

U.S. Bank said the slowdown in volume was driven by a significant contraction in the West region.

Photo: iStock.com/Nikolay Malshakov

Exxon 2022 Profit Hits Historic High for Western Oil Industry

Oil majors are expected to break their own annual records on high prices and soaring demand, pushing their combined take to near $200 billion.

Photo: iStock.com/JHVEPhoto

India Says Its Path to Net Zero Must Pass Through Fossil Fuels

Environmentalists have blamed the fuel — along with other factors like crop burning, construction dust and vehicle emissions — for the country’s toxic air that reaches alarming proportions every winter.

Photo: Bloomberg

Turkey and Morocco Are Emerging as Demand Sources for Russian Diesel Before EU Ban

The EU will still get more than a quarter of its diesel imports — around 612,000 barrels a day — from Russia even in January.

Photo: Bloomberg

Brexit Has Had a Negative Impact on the U.K. Economy

The U.K. is the only major rich economy that remains smaller — poorer — than prior to the pandemic and Brexit may be a factor.

Photo: iStock.com/Tanaonte

U.S. Consumer Spending is Falling

Freight carriers are seeing the impact, as the number of big and bulky shipments declines and retail customers continue to pare inventories and push back restocking.

Photo: iStock.com/Antonio_Diaz

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