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Spanish competition watchdog probes FedEx, UPS, DHL, Royal Mail – Reuters

Spain’s competition watchdog said it was investigating logistics companies including United Parcel Service Inc, FedEx Corp, Deutsche Post’s DHL Group and Britain’s Royal Mail Plc for possible anti-competitive practices.

The investigation, which is looking into practices that include forging pacts to not poach each others’ clients, could last 18 months and end in fines, the National Commission Markets and Competition (CNMC) said in a statement on Friday.

 

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Industry News

Will Brexit Dampen FedEx’s European Ambitions? – Market Realist

Brexit caused a 4.7% fall in FedEx’s (FDX) common stock. This was nearly double compared to a 2.6% fall in the price of United Parcel Service’s (UPS) share.

After Brexit, the successful integration of TNT would be a big challenge for FedEx. With new processes coming into play in next few quarters, it will increase the delivery hours. This will lead to more administrative work while crossing borders. It will have a negative impact on the services. It might result in slower delivery speeds, higher costs, and fewer customers.

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Industry News UPS News

Logistics Executives Say Brexit Will Rattle European Supply Chains – Wall Street Journal

Shipping and logistics operators say the U.K. vote to leave the European Union will rattle regional supply chains as Britain rebuilds its trading relationships and rules.

Logistics companies said the “Brexit” vote could have a two-pronged impact in the near term, potentially cutting into the movement of goods but also fueling more demand for services to help retailers and manufacturers navigate changing regulations and trade rules.

“There clearly is going to be a period of transition here where everyone is trying to figure out exactly how Brexit will take place. But it’s not like the U.K. will stop trading with the EU and the U.S. or anyone else,” said Andrew Clarke, chief financial officer at Minneapolis-based C.H. Robinson.

 

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Industry News UPS News

Jeff Bezos insists Amazon isn’t trying to kill UPS – Recode

“We’re growing our business” with the USPS and UPS, he said in an onstage interview with Walt Mossberg.

Bezos did, however, hint at another motivation: Getting better terms on delivery contracts with companies like UPS.

“Better prices on transportation would be acceptable to us,” he deadpanned.

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Industry News

TNT deal raises FedEx employment to almost 400,000 – Commercial Appeal

In one fell swoop, Memphis’ biggest company ballooned to nearly 400,000 employees worldwide and close to $58 billion in annual revenues.

The jewel of FedEx’s acquisition of TNT Express this week is a European road network linking 40 countries, but the heart of FedEx remains in Memphis.

No immediate impact was foreseen on FedEx’s Memphis area workforce of more than 30,000, but the company’s continued growth as a force in world commerce would have a ripple effect here. FedEx is the area’s largest private employer.