Transport Topics
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U.S. consumer spending, which accounts for about two-thirds of the world’s largest economy, plunged in April by the most on record after the coronavirus pandemic halted purchases of all but the most essential goods and services.
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Uber Technologies Inc. and Grubhub Inc. are haggling over a breakup fee after nearing an agreement on a merger price, according to people familiar with the matter.
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The extent of the devastation wrought on the European car industry by the coronavirus pandemic came into sharp focus May 29 when a sampling of major vehicle and parts manufacturers from France to Sweden revealed plans for at least 35,000 job cuts.
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An early look at Saudi Arabia’s crude exports for May shows that historic production cuts have done little to squelch the kingdom’s flood of oil to China, which is just getting back on its feet from the coronavirus.
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