The Federal Reserve held its benchmark interest rate steady and officials penciled in just one rate cut for this year. The U.K.'s economy was flat in April. China's factory-gate prices fell 1.4% in May, the 20th straight monthly contraction. The International Energy Agency predicts global oil markets heading towards a major glut by the end of this decade.
FedEx is reducing its headcount in Europe by up to 2,000 people. Alibaba faces growing competition impacting market dominance. Amazon delivery drivers filed legal claims over contractor classification. A sea drone damaged a bulk vessel off Yemen.
A Mediterranean Shipping vessel that lost control at South Carolina's Port of Charleston damaged a bulk-cargo terminal pier. Aqua Bio acquires Norwegian logistics specialist Jetcarrier. Gartner advises supply chain executives to focus on immediate risks over long-term challenges.
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