Hapag-Lloyd’s lower revenues in Q2 may continue in Q3 as it lagged its peers on U.S.-inbound lanes in July. Retail sales are improving headed into the back-to-school season in the U.S. with multi-line retailers losing and appliance makers gaining. Also: Qurate sticks with China through tariffs, pandemic; Leoni leans towards the cautious as COVID-19 slashes cable demand; Phase 1 review delayed, tough-on-China likely to continue; and a shipping rate surge raises regulatory risks.