UPS will manage the majority of air cargo transportation for USPS. The contract between the two entities is set for a minimum of five and a half years.
Industrials
Boeing Workers End Seven-Week Strike After Approving New Deal That Secures 38% Pay Increase
Boeing workers ended a seven-week strike, accepting a new contract that provides a 38% pay increase and a $12,000 bonus, although the previous pension plan will not be reinstated.
China Already Spent $230 Billion and More in Their Electric Vehicle Industry
China has invested $230.8 billion over a decade to boost its electric vehicle (EV) industry, with this support constituting 18.8% of total EV sales between 2009 and 2023.
OPEC+ Prolongs Most of Its Deep Oil Output Cuts Until 2025
OPEC+ has decided to prolong most of its extensive oil production cuts until 2025. OPEC+ has decided to prolong most of its extensive oil production cuts until 2025.
Amazon Is Ending Drone Deliveries in California, Eyes Arizona Expansion
Amazon has ceased drone delivery operations in Lockeford, California, as it prepares to expand its Prime Air program in Arizona.
Latest News
United Airlines requests pilots' unpaid leave due to Boeing delivery delays, impacting aircraft deliveries and forecasted block hours for 2024.
Negotiations crumble between Molson Coors and union workers in Fort Worth, escalating a strike over pay and benefits. Union rejects $0.05 hourly increase. CEO's pay scrutinized amidst record earnings.
The Baltimore Bridge collapse halted Port operations, disrupting supply chains. With thousands of jobs at risk, fears rose over consumer goods prices.
Canada Goose slashes 17% of global corporate staff, impacting 915 employees amidst declining luxury demand. CEO cites the need for optimization amid industry shifts.
After President Joe Biden voiced opposition to the $14.1 billion plan of Japan's Nippon Steel to acquire US Steel, the Japanese firm said it is committed to pursuing the buyout deal.
Oil prices remained relatively stable on Thursday, with Brent crude futures settling unchanged at $82.96 per barrel.
Saudi Arabia, Russia, and some other key members of the Organization of the Petroleum Exporting Countries Plus (OPEC+) have decided to prolong their voluntary crude supply cuts until June.
Ford Motor CEO Jim Farley told investors on Thursday to forget about Tesla and touted the company's "Pro" fleet business as the future of the automotive industry.
President Joe Biden has retained the tariffs on imports from China that were imposed during the administration of former President Donald Trump.
