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Jan 13, 2015

CSX profit rises, sees double digit earnings growth in 2015

CHICAGO, Jan 13 (Reuters) – CSX Corp, the
third-largest U.S. railroad, on Tuesday reported a higher
quarterly profit that was in line with analyst expectations and
said it expected a strong increase in its freight business and
double-digit earnings growth during 2015.

CSX’s fourth-quarter profit rose on the back of an 11
percent rise in coal shipments, a 5 increase in intermodal and 5
percent for its “merchandise” shipments that include
agricultural, chemical and construction products. The railroad
reported a 6 percent rise in revenue for all three business
segments.

Jan 12, 2015

Alcoa swings to profit, sees strong demand for aerospace

CHICAGO, Jan 12 (Reuters) – Metals company Alcoa Inc
on Monday reported higher-than-expected quarterly profit,
swinging from a year-earlier loss due to a boost from automotive
demand, higher aluminum prices and lower energy costs.

Alcoa also forecast solid demand this year for its aerospace
and automotive products.

Jan 12, 2015

U.S. bus lines added routes in 2014, airline flights fell -study

CHICAGO, Jan 12 (Reuters) – U.S. bus companies continued to
add daily scheduled routes linking cities around the country in
2014 with a 2.1 percent increase, while airline flights fell 3.5
percent, according to a study released on Monday.

According to the study by the Chaddick Institute for
Metropolitan Development at DePaul University in Chicago, bus
companies introduced new luxury-oriented services and expanded
their national networks to capitalize on rising demand for
short- and long-distance trips. Bus travel-booking websites like
Wanderu and Busbud also contributed to a rise in interest.

Dec 29, 2014

Small U.S. firms may struggle with new UPS, FedEx dimensional prices

CHICAGO (Reuters) – United Parcel Service Inc (UPS.N: Quote, Profile, Research, Stock Buzz) and FedEx Corp (FDX.N: Quote, Profile, Research, Stock Buzz) are rolling out new pricing systems to curb online retailers’ large package sizes, but industry experts warn many small firms are unprepared and could pay up to 50 percent more for shipping.

Starting Monday, UPS will no longer charge for U.S. ground packages under 3 cubic feet by weight but by their “dimensional weight.”

Dec 24, 2014

U.S. Postal Service eyes e-commerce to offset declining mail

CHICAGO (Reuters) – Facing a slump in the mail it had been delivering since the days of America’s Revolutionary War, in 2012 the U.S. Postal Service began aggressively targeting e-commerce and lapsed customers as the way to salvage its declining business.

“Really it started almost at the level of cold-calling, talking to people who really hadn’t spoken to us in a long time,” said Nagisa Manabe, who joined the USPS in May 2012 as chief marketing and sales officer from Coca-Cola Co after a career in the private sector. “And really trying to persuade them to consider us as a very viable alternative in the shipping market.”

Dec 17, 2014

Despite second-quarter profit jump, FedEx misses expectations

CHICAGO (Reuters) – Increased U.S. domestic and international volumes sparked higher quarterly profit at FedEx Corp, the package delivery company said on Wednesday, but quarterly earnings and its full-year outlook fell short of expectations.

Both FedEx (FDX.N: Quote, Profile, Research) and main rival United Parcel Service Inc (UPS.N: Quote, Profile, Research) are in the final days of their holiday peak season, which has boomed over the past decade due to the rise of e-commerce. Last year both companies were hit by a last-minute surge in online orders and bad weather that left an estimated 2 million packages undelivered on Christmas Eve.

Dec 17, 2014

FedEx second-quarter profit rises, but misses expectations

CHICAGO (Reuters) – Package delivery company FedEx Corp reported lower-than-expected quarterly profit on Wednesday as U.S. domestic package and international export volumes rose, and reaffirmed its full-year profit outlook.

Both FedEx and main rival United Parcel Service Inc are in the final days of their holiday peak season, which has boomed over the past decade due to the rise of e-commerce. Last year both companies were hit by a last-minute surge in online orders and bad weather that left an estimated 2 million packages undelivered on Christmas Eve.

Dec 11, 2014

Teamsters pull ballot at FedEx Freight facility in Pennsylvania

CHICAGO (Reuters) – The Teamsters withdrew a planned ballot
at a Pennsylvania facility of FedEx Corp’s trucking
unit, in a further blow to efforts to unionize workers at FedEx
Freight.

“We believe in our drivers and appreciate all they do for
the company,” Mike Ducker, incoming president and chief
executive of FedEx Freight, said in a statement. “We are
pleased with the recent results and look forward to a bright
future together.”

Dec 2, 2014

U.S. CEOs gloomier on spending, more optimistic on job front

CHICAGO (Reuters) – U.S. chief executive officers are more pessimistic about their spending plans and the outlook for the economy, but are more bullish on their hiring prospects, according to a quarterly survey from the Business Roundtable released on Tuesday.

Of the 129 CEOs who responded to the survey, 36 percent said they expected to increase their capital spending in the next six months, down from 39 percent in the third quarter and an eight-point drop from 44 percent in the second quarter.

Nov 18, 2014

Gasoline price drop could boost U.S. holiday spending: UPS CFO

ATLANTA (Reuters) – Lower U.S. gasoline prices could boost consumer spending ahead of the holiday season, a critical period for the retail sector, a top executive at United Parcel Service Inc (UPS.N: Quote, Profile, Research, Stock Buzz) said on Tuesday.

“The impact of low fuel prices right now is it puts more discretionary dollars in consumers’ pockets,” Chief Financial Officer Kurt Kuehn told Reuters at the company’s Atlanta headquarters.

    • About Nick

      "Nick Carey is a Chicago-based, British-born journalist who has covered everything from the near-collapse of the Big Three automakers to the U.S. housing crisis. Nick is currently on general assignment, reporting on the human impact of the recession. He previously spent ten years working in central and eastern Europe."
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