US logistics startup Flexport to lay off 20% of its workforce – The Information
(Reuters) -U.S. logistics startup Flexport is planning to lay off about 20% of its workforce in the coming weeks, The Information reported on Friday citing …
Logistics
South Africa on right inflation track, energy and logistics a concern: IMF
By Kopano Gumbi and Wendell Roelf CAPE TOWN (Reuters) – The International Monetary Fund’s First Deputy Managing Director Gita Gopinath praised South Africa’s central bank …
US warehouse rents will defy logistics transportation rate drop -Prologis CEO
By Lisa Baertlein LOS ANGELES (Reuters) – Warehouse rents will continue to rise even as other supply-chain costs tumble from pandemic highs, the CEO of …
Shein plans to bolster compliance and logistics execs ahead of US marketplace
By Arriana McLymore NEW YORK (Reuters) – Fast-fashion retailer Shein is boosting senior leaders and executives to roll out its U.S. marketplace and to meet …
Peru mining firms’ logistics at risk from extended protests, Fitch says
(Reuters) – Mining companies operating in Peru face “material risk” amid extended protests and blockades in the world’s No. 2 copper-producing nation, Fitch Ratings said …
Logistics startup Flexport cutting 20% of staff in restructuring
By Lisa Baertlein LOS ANGELES (Reuters) – Logistics startup Flexport on Wednesday said it would cut about 20% of its global workforce as its new …
Britain’s Morrisons in 220 million stg logistics sale and leaseback deal
LONDON (Reuters) – Morrisons has completed a 220 million pounds ($269 million) sale and leaseback deal for seven logistics properties with asset manager ICG, the …
Britain’s Morrisons in 220 million stg logistics sale and leaseback deal
LONDON (Reuters) – Morrisons has completed a 220 million pounds ($269 million) sale and leaseback deal for seven logistics properties with asset manager ICG, the …
China’s Fosun seeks to sell stake in Alibaba’s logistics arm Cainiao- sources
By Julie Zhu and Kane Wu HONG KONG (Reuters) – Debt-laden Chinese conglomerate Fosun International is seeking to offload a minority stake in Alibaba Group’s …
Russian McDonald’s buyer turns to logistics with HAVI purchase
(Reuters) – The owner of McDonald’s former restaurants in Russia, Alexander Govor, is buying privately-owned Russian logistics company HAVI, which has 14 distribution centres, his …
Logistics startup Flexport plans hiring spree, to double engineers in 2023
By Krystal Hu (Reuters) – Flexport, one of the most valuable logistics startups, is looking to add about 400 engineers to double its technical team …
World Bank approves Egypt $400 million to improve and decarbonize logistics and transportation sectors
CAIRO (Reuters) -The World Bank has agreed to provide Egypt with $400 million to develop the logistics and transportation sectors and support the shift towards …
Maersk to acquire Denmark-based logistics firm Martin Bencher Group
COPENHAGEN – Shipping group A.P. Moller-Maersk said on Friday it had agreed to buy Danish logistics company Martin Bencher Group in a deal valued at …
SoftBank-backed logistics firm Delhivery valued at $4.9 billion in India debut
BENGALURU -Shares of Delhivery, an Indian logistics startup backed by SoftBank Group, rose as much as 7.6% in their market debut on Tuesday, giving the …
Brazil’s JBS says China lockdowns won’t affect demand, logistics a concern
SAO PAULO – Brazilian meat giant JBS SA played down the effects of COVID-19-related lockdowns in China, saying they would not affect demand for JBS …
China central bank to launch relending facility to aid transport, logistics
BEIJING – China’s central bank said on Friday it launch a 100 billion yuan ($15 billion) relending facility to support the transport, logistics and storage …
Echo Global Logistics Signs Definitive Agreement to Acquire Roadtex Transportation Corporation
The deal brings a national warehouse footprint and advanced temperature-controlled transportation solutions to Echo while providing Roadtex’s customers with truckload brokerage and expanded transportation management …
PBF Logistics Declares Quarterly Distribution of $0.30 per Unit and Announces First Quarter 2022 Earnings Results
First quarter net income attributable to the limited partners of $36.3 million, or $0.58 per common unit, EBITDA attributable to PBFX of $55.9 million and …
U.S. logistics firm GXO aims to increase sales in Germany
FRANKFURT – The world’s largest contract logistics provider, U.S.-based GXO, said on Wednesday it hoped to significantly increase its share of sales in Germany over …
Major French unions: current pay rise offer in logistics sector is unacceptable
PARIS – Major French trade unions said in a joint statement on Friday that a proposed pay rise for workers in the logistics sector was …
Mercadolibre, Brazilian airline Gol announce logistics partnership
SAO PAULO – Mercadolibre Inc and Brazilian airline Gol Linhas Aereas Inteligentes SA on Tuesday announced a 10-year logistics partnership for cargo transportation in the …
CMA CGM buys auto logistics firm Gefco as Russia’s RZD, Stellantis exit
PARIS – French shipping group CMA CGM said on Friday it has acquired nearly 100% of Gefco, the auto transport company previously co-owned by Russian …
Staff walk out over pay at Amazon France’s eight logistics centres
PARIS – All eight logistics centres of U.S. e-commerce giant Amazon in France were hit by staff walkouts tied to a dispute over pay after …
Ivanhoe Mines’ Friedland sees logistics cost squeeze easing
JOHANNESBURG – High shipping costs have posed a “challenge” for Democratic Republic of Congo-focused copper producer Ivanhoe Mines, but an alternative route to port via …
China’s JD Logistics aims to raise $1.1 billion from new shares
By Scott Murdoch SYDNEY – JD Logistics is looking to raise $1.1 billion from a $700 million share placement with its parent company JD.Com plus …
China’s JD Logistics agrees to buy courier company Deppon
– Chinese e-commerce giant JD.com Inc on Sunday said that its subsidiary JD Logistics Inc has agreed to buy domestic courier Deppon Logistics Co Ltd. …
Amazon CEO pledges logistics, cybersecurity support for Ukraine
– Amazon.com Inc is using its logistics capability to get supplies to those in need and cybersecurity expertise to help governments and companies as part …
Siemens agrees to sell logistics business to Koerber in 1.15 billion euro deal
ZURICH – Siemens has agreed to sell the mail and parcels business of Siemens Logistics business to German technology group Koerber for a purchase price …
Former Defense Logistics Agency Supervisor Pleads Guilty To Assaulting A Subordinate Employee
HARRISBURG – The United States Attorney’s Office for the Middle District of Pennsylvania announced that on November 1, 2021, Jared B. Heisey, age 30, of …