FedEx Benefits From Higher Shipping Rates, Fuel Surcharges

FedEx Corp.’s revenue rose 8% in its fourth quarter as higher shipping rates and fuel surcharges offset a smaller volume of packages shipped. The delivery giant’s operating income rose 6.7% from a year earlier to $1.9 billion, led by its Freight and Express units, where operating income rose 67% and 20%, respectively. The company’s Ground … Read more

Tesla Raises Prices Amid Surging Costs

Tesla Inc. TSLA -8.54% has raised the prices on some of its cars by as much as $6,000, as the electric-car maker grapples with surging costs along its supply chain. The increase comes as the car industry faces rapidly rising costs on labor, transportation, raw materials and more. It also comes shortly after Tesla Chief … Read more

Baby-Formula Shortage Expected to Persist Weeks Longer

Baby formula will remain hard to find until at least mid-July, industry executives said, despite efforts by manufacturers, the White House and regulators to ease a monthslong shortage. Abbott Laboratories, ABT -0.80% maker of Similac, the largest baby formula brand by sales in the U.S., plans to resume on Saturday production at its Sturgis, Mich., … Read more

Amazon Consumer CEO, Who Led Massive Logistics Expansion, Resigns Inc.’s AMZN -2.52% consumer CEO, Dave Clark, disclosed plans Friday to leave the company, bringing an end to the tenure of a key executive behind the tech giant’s massive warehouse and logistics expansion during the pandemic. Mr. Clark, a 23-year veteran of the online retailer, headed up all of logistics at Amazon until January … Read more

Shipping Companies Added Capacity, but Now Containers Are Stuck in Port

Ship operators are trying to add millions of new containers to address a severe capacity crunch, but the boxes are stuck on liners and at ports as shipping moves into its busiest period. Shipping’s peak season usually starts at the end of June when importers begin ordering products for the back-to-school and holiday seasons. This … Read more

Alibaba, Hit by Covid in China, Posts Slowest Revenue Growth Since IPO

Alibaba BABA 14.79% Group Holding Ltd. posted the slowest revenue growth for the second straight quarter since it went public in 2014, and the Chinese e-commerce giant said challenges from Covid-19 outbreaks are severely cutting into its business across China. The impact of Covid-19 restrictions has added to the already heavy financial toll on the … Read more

Dollar Tree Targets Speed, Productivity in Supply Chain Upgrades

Discount retailer Dollar Tree Inc. is trying to ramp up its supply chain to match its ambitious expansion plans. The company plans to spend more to improve its supply chain as it increases the use of data analytics and automation to get more goods more efficiently and quickly to its more than 16,000 Dollar Tree … Read more

WSJ News Exclusive | Russian Tanker Giant in Deals to Sell Ships Amid Western Sanctions

Sovcomflot has sold about a dozen ships to buyers in Asia and the Middle East, according to people familiar with the matter, as the Russian state-controlled company works to repay loans to Western banks ending business ties to comply with sanctions. The company, among the world’s largest tanker operators, sold five tankers to Dubai-based Koban … Read more

Prologis Offers to Buy Duke Realty in Nearly $24 Billion Deal

Prologis Inc., PLD -5.26% the world’s largest owner of warehouse space, said it offered to buy Duke Realty Corp. DRE 3.92% in a nearly $24 billion deal, a vote of confidence in the e-commerce business at a time when investors are getting nervous about its growth. Prologis controls a 1 billion square foot global network … Read more