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 for being proactive in raising interest rates…
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 on Thursday, warning of possible lack of…
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 chief executive refocuses the business amid a…
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 British supermarket group said on Friday. It…
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 British supermarket group said on Friday. It…
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 logistics arm Cainiao, in a deal that…
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 firm said on Wednesday. The Siberian businessman…
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 by next year, a top company executive…
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 lower carbon emissions, the group said in…
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 $61 million. “Martin Bencher will be an…
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 company a valuation of 379.60 billion rupees…
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 products despite causing logistics concerns, according to…
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 sectors which have been hit hard by…
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 solutions CHICAGO and SOMERSET, N.J., May 5,…
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 Adjusted EBITDA of $56.6 million Strong base…
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 the next five years with warehouse-related services…
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 “unacceptable” and that they had ended wage…
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 South American country. Under the deal, Mercadolibre…
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 Railways (RZD) and carmaker Stellantis. CMA CGM…
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 employees at the Boves centre in northern…
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 Angola should ease the squeeze, co-Chairman Robert…
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 a $400 million primary capital raising, according…
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. Under the deal, JD Logistics will acquire…
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 of its support for Ukraine, Chief Executive…
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 of 1.15 billion euros ($1.31 billion), the…
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 Etters, Pennsylvania, pleaded guilty before United States…
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