Amazon has leased 20 Boeing 767 cargo planes and partnered with Air Transport Services Group to build its own logistics network. Senior Vice President of Worldwide Operations and Customer Service at Amazon Dave Clark said the new planes will “ensure air cargo capacity to support one and two-day delivery for customers.”
Mexico state-owned oil company Pemex said it would begin to pay back billions of dollars of debt to suppliers using new lines of credit from three development banks. Pemex has deferred payments to suppliers and contractors since last year.
Bill Baer, antitrust chief with the Department of Justice, told the Senate antitrust subcommittee this week that he was concerned about the voting trust structure involved in Canadian Pacific Railway’s proposed mergers of Norfolk Southern Corp. and CSX Corp. Specifically, he said the terms would allow the companies to nearly complete a merger before a proper government antitrust review took place.
Volkswagen’s president and CEO of Volkswagen Group of America Michael Horn is leaving the company amid the automaker’s diesel emission scandal. Horn has been leading U.S. operations since January 2014.