Logistics

The National Transportation Safety Board announced on Wednesday that a cracked part on a UPS MD-11 cargo jet, which crashed in Kentucky in November, was?flagged? in a Boeing Service Letter more than a ten-year-old. The National Transportation Safety Board said that 15 people, including 3 plane crew members, were killed in the fiery crash of the MD-11 cargo aircraft at Louisville Airport. The NTSB reported that its investigation found fatigue cracks on the left pylon support structure, also known as the bearing race. Boeing's letter from 2011 stated that there were four failures in the bearing race on three aircraft,...

QXO announced on Monday that Apollo Global Management, along with a number of other investors, had agreed to invest $1.2 Billion in the firm headed by Brad Jacobs. This investment will be used to support its acquisition efforts. The shares of the distributor of building products were up by more than 8% on premarket trading. QXO must use financing to fund at least one acquisition by July 15?, the companies stated. The building products industry in the United States has seen a?sharp increase in dealmaking as companies look to scale and local supply chain to offset tariffs. Demand is driven...

FedEx reported higher profit and revenue for the second quarter on Thursday, and raised?the lower end of its earnings forecast for the full year. Peak-season pricing and cost-cutting measures helped offset softer shipment volume. Memphis-based 'package delivery' company reported an adjusted profit for the second quarter ending November 30 of $1.14 Billion, or 4.82 cents per share. This is up from $990 Million, or $4.05 cents per share a year ago. After-hours, shares of the company rose 1.4% to $291. FedEx is pursuing a multiyear cost overhaul, which began in 2023. The company aims to save billions by idleing aircraft,...

FedEx reported higher profit and revenue for the second quarter on Thursday, and raised its low-end earnings forecast. This was due to a combination of cost-cutting and peak-season pricing measures that helped offset softer shipment volumes. Memphis-based package company, Memphis Package Delivery, reported an adjusted profit for the second quarter ending November 30 of $1.14 Billion, or $4.82 a share. This is up from $990 M, or $4.05 a share, one year earlier. FedEx is pursuing a multiyear cost overhaul?since 2023. It aims to save billions by idleing aircraft, closing sites and integrating the previously separate Ground and Express operations....

According to the reverse logistics company owned by UPS, nearly one out of every ten retail items returned to the U.S. for a refund is fraudulent. The company says that it plans to use artificial intelligence to help retailers combat this $76.5 billion problem. Happy Returns, a UPS-owned company that processes boxless returns, is testing an AI fraud detection tool this holiday season with a few clients. These include apparel sellers Everlane Revolve and Under Armour. This was revealed by Happy Returns' CEO David Sobie during a tour of the company's Los Angeles hub. Return fraud is a form of...

The U.S. The U.S. U.S. Postmaster-General David Steiner said he hoped Amazon.com would participate in the process of seeking bids for 18,000 USPS Delivery Destination Units that will allow "last mile" deliveries to customers from a wider range. Steiner, in his first interview after taking over the USPS leadership, said that this could add billions in revenue. The Postal Service delivers more than 170 millions U.S. addresses every week, and the last mile is the most expensive. Steiner added that it is also very expensive for FedEx, UPS, and Amazon. "We have a precarious cash situation." He said that we...

The U.S. The U.S. U.S. postmaster general David Steiner stated in an interview that he hopes Amazon.com, and other companies, will participate in the bid process to open up its 18,000 USPS destination units for "last mile" deliveries, which would allow a wider?range of clients, adding billions of dollars of much needed revenue?to USPS. "We are in a very precarious financial situation." Steiner stated that we will be out of money in 12 to 24 months. Steiner stated that it was "clear" to him that you could not save your way to prosperity. He added that USPS's current free cash,...

In 2026, Formula One fans can expect to hear a lot more about Boost and Overtake. The Liberty Media owned sport announced a re-evaluation of terminology Wednesday, to coincide with the beginning of a brand new era of engines and the largest ever revision of technical regulations. The cars will have thinner and lighter tyres, a split of 50/50 between internal combustion, sustainable fuel and electric power. In a recent statement, Formula One stated that "in this new generation of drivers the power is more in their hands than before." "Critical decisions over energy deployment, regeneration and conservancy puts them...

Amazon plans to end its longstanding partnership with the U.S. The Washington Post reported Thursday that Amazon is preparing to expand its nationwide distribution network as it prepares to expand the ecommerce company's delivery network. Report: The top postal customer is the online retailer, which will provide more than $6 billion annually in revenue by 2025. The move could have a major impact on the financial prospects of the independent government agency, which has relied heavily on contracts with large customers like Amazon to drive growth despite heavy losses. USPS reported a $9.5 Billion loss last year. It has accrued...

According to the law firm representing the victims, the families of victims of a UPS cargo plane crash are planning to file a lawsuit for wrongful death on Wednesday. UPS MD-11 cargo plane crashed in Louisville, Kentucky on November 4 immediately after takeoff, killing 14 people. According to a preliminary report by the National Transportation Safety Board, crash investigators found fatigue cracks on a support structure that connects the plane's left pylon to its wing and engine. Bob Clifford said that the preliminary report "suggests this plane is old, tired and beyond its useful lifetime," one of the lawyers representing...

USPS receives $3 billion in funding from Congress to support infrastructure and EVs USPS bought 8,700 Ford E-Transits, of which 2,010 are in service Senate Republicans block USPS from scrapping EVs and charger equipment By David Shepardson WASHINGTON, 2 Dec - The U.S. Postal Service currently uses more than 2,600 vehicles to deliver mail, according to a letter sent by the agency on Tuesday. In 2023, Congress granted USPS $3 billion to purchase electric vehicles and charging equipment under the then-President Joe Biden. This included $1.2 billion specifically for EVs. In a letter dated November 17, USPS Government Relations Chief...

David Shepardson and Allison Lampert Source: The grounding of MD-11 aircraft after the fiery crash of one plane this month is not likely to end until 2026. This will drive industry demand for alternative solutions as peak delivery season begins this week. Boeing and the Federal Aviation Administration must complete testing following the November 4, 2014 crash of an UPS MD-11 jet in Louisville, Kentucky that resulted in the deaths of 14 people before they can agree on the inspection criteria for ungrounding the planes. The source, who spoke on condition of anonymity, stated that the FAA had grounded the...

InPost, a parcel locker company, said that it received a proposal on Tuesday for the potential acquisition of its entire shares. This pushed its share price sharply upwards. InPost declined to disclose the identity of the person who approached them, and said that it was not certain that the proposal would lead to a deal. The spokesperson for the company declined to comment. The company has never publicly stated that it was looking for a purchaser. InPost shares were up 16% as of 0823 GMT,? bringing the market value to approximately 6.7 billion euro ($7.86billion). On Monday, the company's stock...

The European stock market remained stable on Tuesday after a strong surge in the previous session. Higher precious metal prices lifted stocks of basic resources. The rally has remained resilient, as investors continue to rely upon expectations of economic strength despite increasing geopolitical tensions after U.S. attacks on Venezuela. The pan-European STOXX 600 index has gained 0.3% by 0814 GMT. This is a day after gains from defence and energy shares have propelled the index past 600 points for the first time. The index of basic resources rose by 1%, due to the higher price of precious metals. The?DAX in...

Bpost, the Belgian postal service, reported a surprise operating loss in its third quarter, due to seasonal weakness, and lowered its capital expenditure guidance for this fiscal year. The adjusted loss before taxes and interest was $3.5 million, compared to the profit of $10.3 million euros from a year ago. Analysts surveyed by the company expected a adjusted operating profit to be 6.7 million euro. The company reduced its forecast for gross capital expenditures to 140 million euros from 180 million euros earlier, and stressed the importance of disciplined spending in a gradual approach toward 2026. In a press release,...

Here are some company news and stories that could impact the markets in France and Benelux or even individual stocks. The Board of Directors co-opted Matthieu Chanel as an additional director. His appointment will be ratified at the next general meeting. PostNL NV Dutch postal and logistic company priced 300 million euro notes due October 2030. These will be issued at a 99.884 price and have a coupon rate of 4.000% per year. The proceeds of the sale will be used to finance general corporate needs, including refinancing. Marie Brizard Wine and Spirits SA In the first half, the French...

Allegro, the CEO of Polish ecommerce company Allegro, denied on Friday that Allegro was at odds with any of its business partners despite its relationship deteriorating with delivery partner InPost. When asked by reporters about InPost, Allegro CEO Marcin Kusmierz said: "We don't believe that we are in any dispute or business with any entity." InPost's shares dropped around 13% after the company reported a slower volume growth in Poland. The shares of InPost have lost over a third in value this year, but they were up by 9% as of 1340 GMT. Allegro shares were up about 2%. InPost,...

InPost, a parcel locker company, has announced that it has acquired Spanish delivery firm Sending in order to expand its presence on the Iberian Peninsula. It will also integrate the 24-hour delivery service provided by Sending. Why it's important InPost has gained traction in other countries after establishing a stronghold on its native market, Poland. Sending is the latest in a strategy of pan-European growth, which began with the acquisition of Yodel earlier this year. By the Numbers InPost, at the end of its second quarter, had 3,000 automated package machines (APMs) and 9,000 pickup and drop-off locations in Spain...

U.S. importers rely on customs brokers more and more to keep up with the ever-changing policies of President Donald Trump. The industry said that the booming demand for assistance in processing foreign products has increased the cost of these services, which adds another cost to tariffs. Customs brokerages, which were until recently an unrecognized branch of the import industry, now handle all the paperwork required to process shipments, calculate tariff bills, and calculate the paperwork. Brokers interviewed by said they were raising their fees. Major logistics companies like Memphis, Tennessee based FedEx, and Germany based DHL have also added staff...

PostNL's president called for urgent federal government action to secure the Dutch postal service on Monday, after the group cautioned on 2024 profit partly due to what she called an unsustainable service design. Shares of the postal operator fell as much as 8.4% in early trading, nearing their all-time low seen in March 2020. Slow to broaden their parcel networks and at times in monetary trouble, conventional postal services in Europe are having a hard time to keep up with competitors from other parcel locker operators such as Poland's InPost or Amazon. In a statement, outgoing CEO Herna Vernhagen called...

Dutch postal operator PostNL cut its 2024 operating earnings projection for the second time on Monday, with its top executive mentioning less seasonal mail than expected in December and an unsustainable organization model. The Amsterdam-listed stock fell 3.2% in early trading. Slow to broaden their parcel networks and at times in financial difficulty, traditional postal services in Europe are having a hard time to keep up with competitors from other parcel locker firms such as Poland's InPost and Amazon. Immediate action to change the USO responsibilities (universal. service commitments) as well as a financial contribution from. federal government are inevitable...

Poland's InPost will invest an extra 600 million pounds ($ 731 million) by 2029 to broaden its operations in the UK, the UK federal government stated on Thursday. This will bring the parcel locker company's total investment in the UK to 1 billion pounds, supporting approximately 12,000 brand-new tasks, the government said in a declaration. InPost plans to broaden its network of automated lockers and logistics facilities in the country, the business said in a. declaration on Friday. The lockers, dubbed automated parcel devices or APMs, allow. customers to gather or drop off plans when it matches them. Britain is...

Parcel locker company InPost reported on Tuesday a 20% rise in fourthquarter volumes, driven by both its home market Poland and abroad. InPost, which aside Poland runs in eight countries, delivered 322.1 million parcels in the quarter, that included the hectic holiday. The business runs one of the most significant networks in Europe of pick-up drop-off (PUDO) points and automated lockers, dubbed automated parcel devices or APMs, that permit clients to gather or drop off plans when it suits them. InPost said that it added a record number of more than 11,500 APMs in 2024, bringing its network to 46,977...

Donald Trump's transition group is considering canceling the U.S. Postal Service's contracts to amaze its shipment fleet, as part of a more comprehensive suite of executive orders targeting electric automobiles, according to three sources acquainted with the strategies. The move, which might be revealed in the early days of Trump's administration that begins on Jan. 20, remains in line with Trump's project assures to roll back President Joe Biden's. efforts to decarbonize U.S. transportation to combat environment. modification-- a program Trump has stated is unneeded and possibly. harming to the economy. Reuters has previously reported that Trump is planning to....