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FedEx Corp. founder Fred Smith is stepping down as CEO of the company and transferring the leadership post to Raj Subramaniam, who currently serves as president and COO, the company announced March 28. Smith will remain as executive chairman.

The Ever Forward, a 1,095-foot cargo carrier with more than 4,000 full shipping containers, is the largest ship to have ever run aground in the Chesapeake Bay, and freeing it is an arduous and cumbersome process. The first attempt to refloat the ship will begin at noon March 29.

Becker Logistics has acquired third-party logistics company Trek Freight Services, it was announced March 28.

The U.S. is exporting more diesel than it has in years as buyers in Europe and Latin America vie to secure supplies that have tightened since Russia’s invasion of Ukraine.

Shares of Volta Inc. plunged to all-time lows after the electric vehicle charging company announced the abrupt departures of two of its top executives, both of them founders of the firm.

Federal trucking regulators have withdrawn two proposals intended to streamline credentialing and testing processes for aspiring truck drivers to obtain their commercial driver licenses.

Amazon .com Inc. shares rallied March 28, with the e-commerce giant becoming the first of megacap tech stocks to erase losses for the year.

Prices for some of the world’s most pivotal products — foods, fuels, plastics, metals — are spiking beyond what many buyers can afford. That’s forcing consumers to cut back and, if the trend grows, may tip economies already buffeted by pandemic and war back into recession.

Tesla Inc. gained in early trading March 28 after the carmaker said it plans to seek shareholder approval for a move that would enable its second stock split in roughly two years.

President Joe Biden’s budget release on March 28 is shaping up as a direct appeal to moderate Democrats, emphasizing deficit reduction and flexibility on social spending as the White House hopes to win support for new legislation before November’s midterm elections.