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North America

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New US Postal Chief confident that agency will be able preserve independence

David Steiner, the new U.S. Postmaster-General, told his employees that he was confident in the Postal Service's ability to operate as an independent agency. Steiner, who began his new tenure on Tuesday, said: "I'm convinced that the strength of the Postal Service is our structure as an independent self-financing entity of the Executive Branch. We operate much like a company but with a mission of public service." He added that he hoped to maintain the Postal Service's independence "far into future." President Barack Obama will be inaugurated in February. Donald Trump USPS is a "tremendous loser for this country," He...

Ground Freight

Canada Post strikes cause private delivery firms to gain market share

UPS, FedEx, and other private parcel delivery companies are battling to gain a larger share of Canada's nearly $17 billion delivery market while Canada Post, owned by the government, struggles with its labor problems. Canada Post, Canada's main postal service, has suffered from labor disruptions for the past year. This included during the holiday season when workers went on strike to protest pay. After contract negotiations broke down, the Canadian Union of Postal Workers, which represents delivery personnel at Canada Post initiated a ban on all overtime in May. Small businesses have been forced to use private carriers and rivals...

Logistics

US Air Force suspends SpaceX project on Pacific atoll report says

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...

Logistics

UPS offers voluntary buyout packages for its US drivers

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...

Logistics

FedEx shares slide as trade turbulence hits demand, profit forecast

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...

Freight Logistics

FedEx shares slide as trade turbulence hits demand, profit forecast

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...

Logistics

FedEx's profit forecast is below analyst target; shares fall 5% after-hours

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,...

Logistics

FedEx Cost Cuts boost Quarterly Profit Above Wall Street Target

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...

Logistics

Wall St closes sharply higher as Middle East tensions ease

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...

Logistics

Wall St. rallies on hopes of rate cuts outweighing Middle East turmoil

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....

Logistics

New York Times Business News - June 23,

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,...

Logistics

A parliamentarian has said that Senate Republicans can't force US Postal Service into scrapping EVs

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...

Europe

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UK's Ofcom revised Royal Mail delivery targets in order to manage delays

The British media regulator has announced that it has set new minimum delivery deadlines to Royal Mail in order to avoid long delays and altered some existing delivery targets, which could help the postal services save up to 578.3 millions pounds (425 million pounds). Ofcom has fined Royal Mail $20 million for not meeting delivery targets over the past two years. Ofcom announced on Thursday that Royal Mail is required to ensure that no more than 99% of the mail arrives two days late. Delivery targets for "First Class", however, have been reduced from 93% to 90 percent delivered the...

Freight Logistics

Italy seizes $51 Million from Rhenus Group Unit in Labour Supply Probe

Documents from the prosecutor's office showed that Italian tax police seized $43.5 million ($51 million) in cash from Rhenus Logistics Group, Rhenus' local unit. This was part of an investigation into allegations of tax fraud and illegal labor practices. Milan prosecutors launched a series formal investigations against Italy's delivery and logistics firms. They targeted the local units for major companies such as FedEx, Amazon, GLS, and DHL. According to a 199 page decree, the investigation accuses Rhenus Logistics Spa, of issuing fake invoices, and bypassing tax and labour laws in order to avoid paying tax and social insurance payments. The...

Logistics

Report reveals the human suffering caused by UK Post Office scandal

A public inquiry into Britain’s Post Office IT Scandal revealed on Tuesday that six postal workers committed suicide, while others fell seriously ill or declared bankrupt. The report also revealed the impact of this scandal on over 1,000 sub-postmasters. State-owned Post Office pursued Branch Managers for losses on their accounts due to flaws in a computer system between 2000 and 2013, leading to about 1,000 of them being found guilty in one of the biggest injustices of the country. ITV's dramatization of the managers' campaign, "Mr Bates Vs. the Post Office", last year sparked outrage and led to legislation exonerating...

Western Europe

Benelux

Logistics

InPost purchases Spain's Sending in order to expand its delivery network throughout Iberia

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...

Logistics

US importers use brokers to negotiate Trump's tariffs at a price

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...

Passenger Transportation Services

PostNL requires 'immediate' federal government action after 2024 revenue warning

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...

Logistics

PostNL cuts 2024 profit projection again, citing 'unsustainable' business design

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...

Logistics

Poland's InPost to invest additional 600 mln pounds in Britain by 2029

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...

Logistics

Parcel locker firm InPost Q4 volumes rise 20%.

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...

Logistics

Trump might cancel United States Postal Service electric mail truck contract, sources state

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....

Integrated Logistics

India probe clears DHL, FedEx, UPS of cost collusion accusations, file programs

An Indian antitrust examination has concluded there was no cost collusion between the domestic systems of delivery business DHL, United Parcel Service and FedEx, according to three sources and a file seen . The Competitors Commission of India (CCI) ordered an examination in 2022 into more than a lots shipment companies for alleged collusion on discount rates and tariffs and had reviewed thousands of emails to examine the fees business charged for airport services, Reuters reported in January. The case was filed by the Federation of Indian Publishers, which grumbled that international business, together with lots of domestic companies, were...

Logistics

United States startup Lyten to invest over $1 bln in Nevada lithium-sulfur battery factory

Silicon Valley startup Lyten revealed on Tuesday its strategy to construct the world's very first gigafactory for lithiumsulfur batteries in Reno, Nevada, as companies seek to capitalize on the need for more inexpensive source of power for electrical cars. With battery costs considerably affecting EV rates, automakers are increasingly searching for alternative innovations to make such cars available to a larger market. Lyten, backed by Chrysler-parent Stellantis and shipment providers FedEx, stated it would invest more than $1 billion in the center that would initially create 200 tasks, growing to more than 1,000 in northern Nevada. Nevada's Reno is also...

Logistics

InPost to buy remaining 70% in Menzies, SkyNews reports

Parcel locker business InPost is in very innovative talks to purchase the 70% stake it does not currently own in British logistics firm Menzies, Sky News reported on Monday. InPost decreased to comment. Pointing out unnamed sources, SkyNews said the deal was most likely to be announced this week. InPost purchased a 30% stake in Menzies for 49.3 million pounds ($ 64.4 million) last year and has a three-year choice to purchase the staying 70%. InPost CEO Rafal Brzoska said last month the company would decide on whether to use the call alternative by the end of the year. The...

Logistics

From Boeing to Detroit Three, United States labor unions flex muscle

U.S. planemaker Boeing has prevented a possible strike after reaching a tentative labor offer with a union representing more than 32,000 workers in the U.S. Pacific Northwest, the latest in a series of labor negotiations that brought doubledigit wage boosts in spite of a tight labor market and stubborn inflation. Here are some sectors and companies that dealt with hard settlements in 2023: MEDIA. Members of the Writers Guild of America (WGA) approved a new. three-year agreement with major studios on Oct. 9. Movie and. television writers had walked off the job in May over. settlement, staffing and residual payments,...