UPS flashes a warning sign about the US economy | CNN Business

America’s largest trucking company said Tuesday that revenue fell 6% in the first quarter compared to a year earlier, as its operating profit fell 22%. Its earnings fell just short of Wall Street forecasts for the period. “In the first quarter, deceleration in US retail sales resulted in lower volume than we anticipated, and we faced ongoing demand weakness in Asia,” said the company’s earnings statement. “Given current macro conditions, we expect volume to remain under pressure.

The company faces an August 1 contract expiration, at which point the union could go on strike. Tome tried to give a positive outlook on the ongoing labor negotiations, saying “good progress has been made” on a number of issues, including staffing for weekend deliveries and providing relief from heat in UPS delivery vans, which typically do not have air conditioning.

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Bed Bath & Beyond plans to liquidate all inventory and go out of business | CNN BusinessBed Bath & Beyond has filed for bankruptcy. It caps a long deterioration for a retailer that didn't keep up with shifts in shopping trends.
La source: CNN - 🏆 4. / 95 Lire la suite »

NBCUniversal CEO Jeff Shell to leave company after inappropriate conduct probe | CNN BusinessNBCUniversal CEO Jeff Shell is leaving the company after an outside investigation 'into a complaint of inappropriate conduct,' its parent company Comcast announced Sunday.
La source: CNN - 🏆 4. / 95 Lire la suite »

China makes major push in its ambitious digital yuan project | CNN BusinessPublic sector workers in an eastern Chinese city are set to be paid fully in digital yuan, as the country makes a significant push to popularize the currency.
La source: cnni - 🏆 326. / 59 Lire la suite »

Democratic senators want to ban stock trading in Congress | CNN BusinessThe ETHICS Act would not only ban lawmakers, their spouses and dependent children from trading single stocks, it would also create a searchable, electronic database of their holdings and impose large penalties for any violations.
La source: CNN - 🏆 4. / 95 Lire la suite »