Category: Industry News

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Industry News UPS News

Record cold delays some Amazon deliveries, grounds more than 1,500 flights – CNBC

  • The blast of arctic cold air from the polar vortex delays Amazon, UPS, FedEx deliveries and snarls air travel.
  • Record cold that followed a strong winter storm has curtailed flight operations in the Midwest and Northeast this week.
  • Airlines waive ticket-change fees if travelers are affected by the weather.
United Parcel Service said it had suspended package deliveries and pickups in parts of upstate New York and across a wide swath of the Midwest for safety reasons as temperatures remained low and federal forecasters warned of “dangerously low wind chill values.” UPS listed affected areas by ZIP codes in the Midwest and New York on its website.
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FedEx to acquire Israeli-based Flying Cargo Group’s international express business – FreightWaves

FedEx Express, the air and international unit of FedEx Corp. (NYSE: FDX), has reached a conditional agreement to acquire the international express business of Flying Cargo Group, FedEx Express’ long-standing Israeli agent. Flying Cargo Group is one of the most world’s most iconic transportation and logistics agencies.

The agreement, which is subject to regulatory approval, is expected to close in the first half of 2019, the companies explained late yesterday. Until then, Flying Cargo’s international express business and FedEx Express, which operates international services in Israel through its TNT Express operation, will function independently.

Flying Cargo will continue to own and operate the rest of its portfolio, which includes warehousing, fulfillment and intra-Israeli pick-up and delivery, the companies said.

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Industry News UPS News

Look Out FedEx and UPS — Is Amazon Going To Disrupt The Shipping Industry? – Forbes

Amazon started out in the book business. Their online model disrupted the retail book industry. They moved into other items and eventually their online presence changed and disrupted the entire retail industry. But they didn’t stop there. Moving into the grocery industry, they acquired traditional brick-and-mortar stores such as Whole Foods. Again, they became an industry disrupter. So which industry is next?

One industry that has been a beneficiary of Amazon’s success has been the shipping industry. FedEx, UPS, and the USPS have earned billions of dollars as a result of the massive amount of product customers order from Amazon. But that is about to change.

 

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Industry News UPS News

EU court paves way for $2 billion UPS claim as annuls TNT bid veto – Reuters

Europe’s top court opened the way to a $2 billion damages claim by U.S. delivery company UPS (UPS.N) on Wednesday by annulling a 2013 decision to stop it buying Dutch firm TNT Express.

The European Court of Justice said the ruling followed a procedural error by the European Commission in its veto, which paved the way for FedEx Corp (FDX.N) to acquire TNT Express for 4.4 billion euros in 2016, a deal it approved.

UPS, which has said it is seeking 1.74 billion euros ($1.98 billion) from the European Commission, said it was pleased the court agreed that the company had been given a fair hearing.

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Industry News

FedEx unit to pay $35.3 million to New York State to settle cigarette-trafficking charges – FreightWaves

The ground delivery unit of FedEx Corp. will pay the state of New York $35.3 million to settle three lawsuits alleging that FedEx partnered with cigarette trafficking companies to ship hundreds of thousands of untaxed cigarettes to New York residents, the state announced today

The state charged that the FedEx unit, FedEx Ground, violated federal anti-cigarette trafficking laws as well as assurances made nearly 13 years ago that it would cease residential cigarette deliveries and comply with the laws barring them. According to FedEx Ground, the state and New York City, the plaintiffs in the case, had originally sought nearly $700 million.