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Shippers Struggling with Congestion– Congestion problems continue to plague U.S. West Coast Ports. Canadian-based Lululemon pointed to the congestion problems for its lower sales forecasts announced this week. The athletic apparel maker said that 1 million of its items were stuck in the port currently. On the export side, McDonald’s restaurants in Japan are dealing with a shortage of french fries normally brought in from the U.S. As of late this week, 11 ships were anchored off the coast of Los Angeles and Long Beach waiting to dock.
Read more from Business Insider
Amazon Testing 1 Hour Bike Deliveries – Amazon is testing bike deliveries in New York City to potentially deliver packages within an hour or two. Currently, the online retail giant offers same day delivery is 13 markets across the country.
Read more from CNET
Lowest Oil Prices in 5 Years – Brent crude oil dropped below $63 per barrel this week. This is a steep fall from its peak in June at $115 a barrel. The Organization of the Petroleum Exporting Countries (OPEC) reduced its forecast for 2015 demand so prices are expected to continue to be soft.
Read more from gCaptain
