- FedEx Corp's (FDX) shares rose as much as 11% in early trade on Friday, after aggressive cost cuts helped the freight bellwether lift its profit forecast despite falling e-commerce package volumes.
Germany's Deutsche Post postal company said on Saturday it had agreed a wage deal with the Verdi trade union that would enable it to avoid an indefinite strike threatened by unionised workers.
The following bids, mergers, ** Startup-focused lender SVB Financial Group (SIVB) has cut its 2023 outlook, is selling assets and has embarked on a $1.75 billion share sale to shore up its balance sheet as rising interest rates put pressure on the company and its customers.
Uber Technologies Inc (UBER) is exploring whether to spin off its Uber Freight logistics unit in a sale or as a separate publicly traded firm, Bloomberg News reported on Wednesday, citing people familiar with the matter. The company did not immediately respond to a Reuters request for comment.
* UBER IS EXPLORING WHETHER TO SPIN OFF ITS FREIGHT LOGISTICS ARM IN A SALE OR AS A SEPARATE PUBLICLY TRADED COMPANY- BLOOMBERG NEWS Source text [http://bit.ly/420ta6v] Further company coverage:
United Parcel Service (UPS) on Monday confirmed it is taking steps to reduce its workforce in regions where delivery demand has softened, a comment that comes days after a local union reported that the company had begun nationwide layoffs of some drivers.
United Parcel Service (UPS) on Monday confirmed it is taking steps to reduce its workforce in regions where delivery demand has softened, a comment that comes days after a local union reported that the company had begun nationwide layoffs of some drivers.
United Parcel Service Inc (UPS) on Tuesday said it would shelter 2023 profits from expected revenue declines as decades-high inflation, rising interest rates and recession fears weigh on the bellwether global transportation industry.
United Parcel Service Inc (UPS) on Tuesday beat expectations for quarterly adjusted profit, as it prioritized shipments of high-margin parcels and kept a tight lid on costs amid a softening e-commerce environment. The world's largest parcel delivery firm reported an adjusted profit of $3.62 per share for the fourth quarter, beating Wall Street's expectations of a profit of $3.59 per share.
- Uber Freight said Tuesday it will lay off roughly 150 employees, or about 3% of its workforce, as economic uncertainty hammers demand for shipping services. The division of rideshare company Uber Technologies (UBER) said the layoffs will be limited to its digital brokerage operations that match shippers with truckers seeking to haul cargo.
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