Refocusing: Dow Inc. is exploring the sale of its ports in Louisiana and Texas and six railway hubs as it refocuses on chemicals, Bloomberg reports. The company has tapped a financial adviser to solicit prospective suitors for its Mars unit, a source told the publication, requesting anonymity because the talks are private. The company would seek a 25-year contract with the buyer for marine and terminal services—including ones in St. Charles and Plaquemine in Louisiana—that are located near railway lines operated by Union Pacific Corp. Read the full story.
Price check: The economic paralysis caused by the coronavirus led in April to the steepest month-to-month fall in U.S. consumer prices since the 2008 financial crisis—a 0.8% drop that was driven by a plunge in gasoline prices. And excluding the normally volatile categories of food and energy, so-called core prices tumbled 0.4% last month, the Labor Department said this morning in its monthly report on consumer prices. That was the sharpest such drop on records dating to 1957. Read the full report.
Airline woes: Boeing CEO Dave Calhoun says he believes a major U.S. airline will go out of business this year because of the ongoing disruption brought on by the coronavirus pandemic, CNBC reports. Calhoun did not provide specifics and Boeing spokesman Gordon Johndroe says Calhoun “was speaking in general about the uncertainty in the sector not about any one particular airline.” Read the full story.
