A congressional advisory body is urging legislators to strengthen U.S. defenses against China’s growing control of digital information related to global shipping and cargo, warning it could undermine national security and businesses.
Earnings for freighters that move autos and industrial machines across the globe have surged to about $80,000 a day, the highest in data since at least 2000.
The company said inflation is pushing supplier costs $1 billion higher than expected in the current quarter, joining the chorus of major corporations warning about challenges rippling through the economy.
Diesel futures in New York are trading in the widest backwardation for this time of year in data going back to 2008, meaning the product in storage is losing value each day.