(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 people familiar with the matter.…
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…
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 the world’s largest warehouse landlord…
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 regulatory compliance as it deepens…
(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…
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…
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…
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…
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…
(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…
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…
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…
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…
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…
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,…
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…
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.,…
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…
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…
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…
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…
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.…
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…
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,…
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…