FedEx is laying off Europe-based workers because of reduced demand. The delivery giant is laying off 1700-2000 back-office workers. This development comes as part of a general effort aimed at reducing costs while making more money amid economic turmoil.

FedEx follows UPS, announces job cuts amid economic slowdown

The US Federal Reserve's May meeting, which many had called a "Non-event," turned into a policy directive. The fed kept rates unchanged for the sixth consecutive time as expected. However, the clear directive from the FED is that there will be no further rate hikes. Yet, the US Central Bank was hesitant to commit to rate cuts soon explicitly.

Is it time to reassess Central Banks' pivot guidance?

UPS has emerged as the primary air cargo provider for the United States Postal Service, effectively ending FedEx's over 20-year partnership with USPS. The contract termination comes as USPS, the largest customer for FedEx's air-based express segment, shifts its operational focus towards more economical truck-based transportation.

UPS replaces FedEx as US Postal Service's primary air cargo provider

United Parcel Service (UPS) has been announced as the new primary air cargo provider for the United States Postal Service (USPS), replacing long-time partner FedEx.

UPS secures major contract, replacing FedEx as USPS’s primary air cargo provider

Logistics giant UPS said Tuesday it would cut about 12,000 jobs worldwide, shortly after reporting quarterly revenues that disappointed analysts. In a conference call, CEO Carol Tome said the company was seeking to "align" its resources with UPS' priorities, adding that the cuts would save it around $1 billion in costs this year.

Logistics giant UPS says it will cut 12,000 jobs, closes challenging year

In a move that can have a huge impact on the logistics industry, India's antitrust body is probing delivery companies like DHL, UPS & FedEx for alleged collusion on discounts and tariffs.

India: Antitrust body probing delivery firms for alleged collusion on discounts

To speed up deliveries in small markets United Parcel Service (UPS) has agreed to buy 10 electrical aircraft from Beta Technologies (BETA). The vehicle has a 1,400 lb cargo capacity, a range of 250 miles and zero operating emissions.

World Business Watch: UPS to buy 10 electric aircraft for delivery

UPS and FedEx usually compete fiercely for business. Now, the rivals are working closely together to ship the coronavirus vaccine developed by Pfizer and BioNTech, the first of the vaccines to win U.

UPS and FedEx say vaccine shipment plans are underway

US: UPS launches drone service to transport medical samples

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