Logistics

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...

Workday's third-quarter subscription revenues were in line with Wall Street expectations on Tuesday. This signaled a softer market and sent its shares down by nearly 7% during extended trading. A sluggish higher education market, which heavily relies on federal funding, also affected the forecast for subscription revenue in the fourth quarter of this human resources software provider. Workday is a payroll provider that competes with Oracle and SAP. Customers include United Airlines, Visa, and FedEx. Some customers, in an uncertain economic climate, are reassessing their budgets and timing. They may also reduce spending on Workday. According to data compiled and...

Politicians said that Italy was working on a tax to be imposed on low value postal packages coming from non-European nations. This is part of a plan to protect the fashion industry against low cost foreign imports, mainly from China. The move is aimed at avoiding unjustified competition on the market of one of Italy's most important industries. It targets online platforms like Shein and Temu, among others. The politicians in Italy said that the ruling parties intend to apply a tax on consignments less than $150. This is similar to a proposal currently being discussed at European Union levels....

The global stock market reversed its course on Wednesday and was on track to end a four session streak of gains, while the U.S. Dollar extended gains following the Federal Reserve Chair Jerome Powell's dampening of expectations for a further U.S. central bank interest rate cut in December. The Fed reduced rates by 25 basis point, citing the limited data visibility caused by the U.S. shutdown. It also announced that it would stop the quantitative tightening of its $6.6 trillion (also known as QT) balance sheet due to evidence that liquidity in the money markets has tightened and bank reserves...

FedEx shares rose 5% on Friday in premarket trade as investors cheered its quarterly profit and revenue beating against the backdrop of uncertainty related to tariffs and the ending of the "de minimis exemption" on low-value shipping. FedEx's aggressive measures to cut costs, such as parking planes, shutting down facilities, and merging certain units, have helped protect profits. It has a plan to save $1 billion in this fiscal year, which ends May 2026. The performance of the company was also boosted by a 5% increase in average daily domestic volumes. Its operating margin, an important metric, rose to 6%,...

GLP, a logistics company, announced on Tuesday that it has secured an investment from Zhejiang-based investors of 2,5 billion Chinese Yuan ($349.51 millions) for its China data center platform. The investment will support GLP's China data center platform in expanding its nationwide operations, the Singapore-incorporated firm said in a statement. According to its website , a global business with offices in Singapore Hong Kong and China, describes itself. reported In late November, the company announced that it aimed to list in Hong Kong this year after being taken private for more than eight years. In 2017, a Chinese consortium of...

Saudi Arabia's nearly $1 trillion sovereign wealth funds sold their stakes in several U.S. listed companies, including Meta, Shopify, and PayPal, in the second quarter. Securities filings published on Thursday confirm this. The 13F filings also show that the Public Investment Fund sold its stakes at Nu Holdings, FedEx and Alibaba Group during a period when U.S. stocks recovered from a drop in April tied to U.S. Tariff policies. The filings revealed that PIF had no shares remaining in Meta, Shopify PayPal, Alibaba Nu Holdings, FedEx, or Nu Holdings. The fund's last filing revealed that at the end March it...

White House announced on Wednesday that the United States has suspended a "de minimis exemption" which allowed low-value commercial goods to be sent to the United States free of tariffs. The White House announced that, under an executive order signed on Wednesday by President Donald Trump, packages sent to the U.S. valued at less than $800 outside the international postal system will be subject to "all applicable duty" as of August 29. Trump had earlier targeted packages coming from China and Hong Kong. The White House has said that the tax and spending bill recently signed by the President repeals...

Sometimes the pain of China limiting exports is so severe that it can be crippling. This can cause a huge outcry to occur almost instantly. Sometimes the pain is felt immediately, while other times it can take longer. China's late-last-year restrictions on the critical mineral antimony have caused major headaches for lead-acid battery makers around the world. Their customers are also affected by these high costs, as they have to pay more. Steve Christensen is the executive director of the Responsible Battery Coalition in America, which includes battery manufacturer Clarios, Honda, and FedEx. He mentioned the importance of batteries in...

The Japanese stock market rose for the third day in a row on Tuesday, boosted by the gains of technology stocks and the optimism of investors about the government's attempts to stabilize the debt markets. The Nikkei Index rose 0.9%, while the Topix index grew 0.5%. The Nikkei Index saw 171 advancing issues against 52 declining ones. Stocks and Japanese government bonds have advanced in tandem, as concerns about the fiscal health of Japan's economy and its borrowing costs continue to grow. Katsunobu Kato, the Japanese Finance Minister, said that the government would work to maintain confidence in the JGB...

On Friday, the Chinese president Xi Jinping met with some of the biggest business leaders in the world. The Chinese leader has met with chairmen, CEOs, and company presidents from major international firms that operate in China for the second consecutive year after the China Development Forum (an annual business conference) held over the weekend. The meeting last year was focused on the executives of U.S. businesses doing business in China. This year, there were more than 40 participants from around the world. RAY DALIO BRIDGEWATER ASSOC. Billionaire Dalio is the head of one of the largest hedge funds in...

The following are the leading stories in the Wall Street Journal. Reuters has actually not validated these stories and does not attest their accuracy. - U.S. President-elect Donald Trump is thinking about dropping his candidate to lead the Pentagon, Pete Hegseth, and nominating Florida Guv Ron DeSantis in his place. - South Korean President Yoon Suk Yeol stated on Wednesday he would lift a surprise martial law statement he had actually imposed simply hours previously, pulling back in a standoff with parliament which roundly rejected his effort to prohibit political activity and censor the media. - U.S. President-elect Donald Trump's...

Brazilian cargo business Modern Logistics expects to get in the U.S. and Mexican markets in the next few months as it puts in location an expansion technique that will include looking at merger and acquisition opportunities in the brief to midterm. WHY IT is necessary Modern is a big player in the fast-growing cargo market in Latin America's largest economy, which has actually been increased in recent years by e-commerce and facilities financial investments. RESTRUCTURING Established in the 2010s by former Azul executives, Modern underwent a restructuring last year that saw previous FedEx executive Cristiano Koga selected as CEO. The...

Asiana Airlines' cargo unit will be sold to South Korean freight provider Air Incheon for 470 billion won ($ 342 million), Korean Air Lines stated on Wednesday. The EU competitors regulator in June authorized Air Incheon as the preferred bidder to purchase Asiana's freight business, as a. condition of approval for Asiana to combine with Korean Air. The purchase will likely make Air Incheon, a small. cargo-only airline company, South Korea's second-biggest freight. provider. A sale contract was signed on Wednesday, according to a. Korean Air filing. The purchase would move Asiana's fleet, personnel, clients. and traffic rights to Air...