The world’s largest diesel engine factory in France is shifting to producing electric motors, creating uncertainty for the labor force because electric motors have one fifth the number of parts as traditional diesel engines.
UPS announced plans to sell its freight business to rival TFI International for $800 million, a bid to exit the domestic trucking market to focus on its small-package-delivery businesses.
The United States Postal Service continues to experience unprecedented volume increases and staff shortages due to COVID-19, the carrier says.
Panasonic’s recently developed ultracold freezer boxes, capable of storing thousands of COVID-19 doses at -70°C, are in large demand around the world, as the company positions to take a significant slice of a growing vaccine storage and packaging market.
Logistics conditions remain strained, with trucking demand exceeding availability, continuing congestion at ports, and backlogs at warehousing and packaging facilities due in part to operating challenges related to the pandemic. Shipping containers are in short supply, with demurrage charges rising. Clients are advised to provide expanded lead times on orders to help ensure delivery dates.
There were 151,112 new COVID-19 cases in the U.S. yesterday and 1,915 deaths.
The number of U.S. COVID-19 hospitalizations declined to the lowest level since mid-December on Sunday, while patients requiring treatment in intensive care units remained high.
Johnson & Johnson’s single-dose COVID-19 vaccine is expected to be more than 70% effective based on early trial data. The shot is highly anticipated due to its relatively easy distribution requirements.
The latter half of 2020 brought a 2.4 percentage-point increase in the poverty rate, nearly double the largest annual increase in poverty since the 1960s.
Kimberly Clark reported better-than-expected results in Q4 on renewed stockpiling of consumer goods as the pandemic and associated lockdowns spread. With consumer cupboards full and costs rising, the company expects more challenging conditions in 2021.
Candymaker Godiva is closing all its 128 retail stores but will continue to do business online and through third-party retailers.
AMC, the world’s largest movie theater chain, raised $917 million from investors to survive the next six months.
Anheuser-Busch is forgoing a Super Bowl commercial for its flagship Budweiser beer this year, with plans to redirect airtime spending to marketing campaigns for COVID-19 vaccinations.
COVID-19 fatalities in Mexico topped 150,000 Monday following a surge of infections in recent weeks. The nation is currently among the hardest hit by the pandemic, aggravated by a shortage of vaccines that have halted rollouts.
New COVID-19 cases in Italy fell by 3,000 yesterday alongside an increase in fatalities.
Israel and the United Arab Emirates lead the world in inoculating against COVID-19, while New Zealand, Australia and Taiwan maintain the best overall resilience against the virus due to low community transmission and balmy weather. The U.S. ranks 35th on the resilience index.