Logistics

According to an article published this week by Stars and Stripes (an independent publication of the U.S. Military), the U.S. Air Force suspended plans to test hypersonic cargo deliveries using a remote Pacific island. The suspension was a result of reports that biologists and other experts claimed that the project could harm seabirds nesting at the Johnston Atoll Wildlife Refuge, an unincorporated U.S. Territory located nearly 1,300 km southwest of Hawaii. Air Force said that it would conduct an environmental assessment on the project. However, publication of a draft report was delayed due to opposition from environmental groups. SpaceX and...

UPS, the parcel giant, announced on Thursday that it would offer voluntary buyouts for its full-time U.S. driver as part of its largest network reconfiguration ever. This includes a massive overhaul which will result in 20,000 job cuts and the closure of 73 facilities. In April, the Atlanta-based firm announced a plan to reconfigure its network in response to a decrease in deliveries from Amazon.com and in response President Donald Trump’s tariffs. In a press release, the company stated that this buyout package was in addition to retirement benefits like pensions and healthcare. The Teamsters union which represents approximately 330,000...

FedEx shares dropped on Wednesday, after the logistics giant predicted a current-quarter loss below expectations. This was due to U.S. Tariffs and President Donald Trump’s decision to remove duty-free status for certain consumer shipments coming from China. In premarket trading, shares of FedEx fell 6% while UPS dropped 1%. DHL, a German competitor, also fell by nearly 2%. The global demand environment is volatile, said CEO Raj Subramaniam, during an earnings webcast. However, the company did not provide revenue and earnings forecasts for the full year, citing uncertainties regarding U.S. Trade Policies. FedEx and UPS are seen as economic bellwethers...

FedEx shares fell nearly 6% on Wednesday in premarket trade after the logistics giant warned of a challenging year and predicted earnings for the current quarter below expectations. This is due to the pressures from U.S. Tariffs, which are causing global demand to be volatile. The global demand environment is volatile, said CEO Raj Subramaniam, during an earnings webcast. However, the company did not provide revenue and earnings forecasts for the full year, citing uncertainties regarding U.S. Trade Policies, especially those relating to China. In April, the Trump administration imposed tariffs of 145% on China, which intensified the global trade...

FedEx's forecast for the current period fell short of the analysts' expectations, sending the shares down by more than 5% after-hours. According to LSEG data, the Memphis-based firm forecasts a fiscal first quarter adjusted loss of $3.40 to $ 4 per share. This is below analyst estimates of $4.06 a share. The firm's better-than expected results for the fiscal quarter ending May 31 were overshadowed by the outlook. Cost cuts and increased export volumes drove operating margins up. The adjusted profit for the fourth quarter fiscal ended May 31 was $1.46billion, or $6.07 a share. This is up from $1.34billion,...

FedEx posted a better-than expected quarterly profit after cost reductions and increased export volumes drove operating margins up. The company signaled caution with a forecast that fell short of the analysts' target for the current quarter. Memphis-based package delivery company's adjusted profit for the fourth quarter fiscal ended May 31 was $1.46billion, or $6.07 a share. This was an increase from the adjusted profit of $5.41 per shares, or $1.34 billion a year ago. The revenue was only up 0.5% at $22.2 billion. According to LSEG data, analysts expected an average earnings per share of $5.81 on revenues of $21.79...

U.S. stock prices rose more than 1% Tuesday, as investors welcomed the fragile truce between Israel and Iran. They also listened to Federal Reserve Chair Jerome Powell’s testimony before Congress for clues about how the U.S. Central Bank will proceed. The three major U.S. indexes ended their second session in a row with solid gains after U.S. missile attacks on Iran's uranium-enrichment facilities. The benchmark S&P 500 is now within striking distance of the all-time high it reached on February 19, Donald Trump, the U.S. president, announced late Monday that Israel had violated a ceasefire agreement. Investors viewed the rhetoric...

Wall Street gained on Monday, as fears of Iran retaliating against U.S. Airstrikes and escalating the Middle East war were offset by the prospect that the U.S. Federal Reserve would cut interest rates in July. All three major U.S. indexes rose modestly as a result of a broad rally. The consumer discretionary sector led the gains, with Tesla providing a strong boost. "The rally was a little surprising," said Jay Hatfield. He is the CEO and portfolio manager of InfraCap, a New York-based company. In a sense, the U.S. attacks has ended the uncertainty about whether or not the U.S....

These are the most popular stories from the New York Times' business pages. These stories have not been verified and we cannot vouch for the accuracy of these reports. Tesla released a small fleet of self-driving cabs to pick up paying passengers in Austin, Texas on Sunday. Elon Musk announced the "robotaxi" launch and social media influencers posted videos of their initial rides. Frederick Smith, the founder of FedEx Corp. and former CEO, died at the age 80. Smith founded the global delivery conglomerate in the 1970s with over a dozen aircraft. The U.S. Judge on Sunday ordered Kilmar Garcia,...

Senate Republicans can't force the U.S. The Senate Parliamentarian stated late Sunday that the U.S. Postal Service will be forced to eliminate thousands of electric vehicles, charging equipment and other items in a massive budget and tax bill. The U.S. Postal Service currently has 7,200 electric vehicles, consisting of Ford e-Transit vehicles and specially built Next Generation Delivery Vehicles by Oshkosh Defense. The U.S. Postal Service has 7,200 electric vehicles consisting of Ford e-Transit and Next Generation Delivery Vehicles specially designed by Oshkosh Defence. USPS warned that abandoning its electric vehicles could cost $1.5 billion. This includes $1 billion for...

FedEx Corp.'s former CEO Frederick Smith has passed away, according to a memo posted by the CEO Raj Subramaniam on the company website. Smith founded the global delivery conglomerate in the 1970s with more than 12 planes. Smith, born in 1944, was the executive chairman of FedEx until recently. He focused on issues of global significance, such as sustainability, innovation, and public policy. Subramaniam succeeded Smith as FedEx CEO in 2022. Subramaniam was the operations chief at that time. "Fred was much more than the founder of a great company and a pioneer in an industry. Subramaniam wrote in a...

People familiar with the situation said that private equity firms such as Blackstone and Apollo Global Management are interested in buying U.S. trucker Forward Air. Signing confidentiality agreements allowed them to receive information and review documents to help shape a possible bid. Platinum Equity and Clearlake Capital can also review materials after signing agreements, according to the sources. Sources said that the initial takeover bids will be submitted in the first week of the month of July. However, they noted that there was no guarantee four buyout firms would make offers. It is possible that other bidders will emerge. Sources...

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...