UPS, FedEx Out to Prove They Can Profit in Holiday Season
UPS Inc. and FedEx Corp., riding high from record package deliveries amid the coronavirus pandemic, are moving on to their next objective: showing investors they can boost profit in the approaching onslaught of the holidays.
August 20, 2020IMCC Files Claim Against OCEMA, Ocean Carriers
American Trucking Associations’ Intermodal Motor Carriers Conference on Aug. 17 filed a complaint against the Ocean Carrier Equipment Management Association and 11 international ocean carriers alleging conduct that violates the Shipping Act, charging they inflated prices in the intermodal chassis market at dozens of ports across the country.
August 20, 2020White House Open to $25 Billion for USPS, McEnany Says
The Trump administration is willing to consider the Democrats’ plan to spend $25 billion on the U.S. Postal Service — as long as lawmakers also provide other coronavirus relief sought by the White House, said spokeswoman Kayleigh McEnany.
August 19, 2020World’s Largest Offshore Rig Owner Valaris Goes Bankrupt
Valaris Plc became the latest casualty of the global slump in oil prices, filing for bankruptcy Aug. 19 as the world’s largest offshore rig owner by fleet size seeks to restructure a roughly $7 billion debt load.
August 19, 2020States Sue Trump Over USPS Even as Changes Paused
More than a dozen states sued President Donald Trump over changes at the U.S. Postal Service that they said trampled federal law and threatened delivery of mail-in ballots, even after Postmaster General Louis DeJoy pledged to delay the moves until after the November election.
August 19, 2020Maersk Lifts Profit Outlook in Sign of Pandemic Resilience
The world’s largest container line may generate $1.5 billion more in operating profit this year than previously expected, as its business proves resilient to the COVID-19 crisis.
August 19, 2020GM to Double Down on China After Tesla Grabs EV Lead
General Motors Co. is accelerating its push into the fast-growing electric-car segment in China, the world’s largest market, seeking to challenge sales leader Tesla Inc. and a slew of local contenders.
August 19, 2020Postmaster General Halts Service Changes Until After Election
Postmaster General Louis DeJoy said he is suspending changes to mail service that raised concerns over slow delivery of ballots in the fall election after Democrats accused President Donald Trump of hampering the vote-by-mail process.
August 18, 2020Amazon to Establish Tech Hubs in Six Cities, Including Detroit
Online retail giant Amazon.com Inc. said Aug. 18 it will put a tech hub in Detroit and five other U.S. cities. The move is expected to create 3,500 jobs in total.
August 18, 2020Three More States to Announce Lawsuits Over USPS, Mail-In Voting
Three more Democratic-led states announced they will take legal action to protect the U.S. Postal Service and mail-in voting as the Trump administration faces claims it is trying to undermine the election.
August 18, 2020