United Parcel Service Inc. will record a pretax cost of about $1.05 billion this quarter for changes to union workers’ health benefits under a five-year contract approved by the International Brotherhood of Teamsters.
Since founder Jim Casey left United Parcel Service Inc. after more than five decades in charge, the company’s chief executive officers have served for an average of 5 1/2 years. Scott Davis reaches that milestone in June.
A surge in the introduction of new technology products, including Apple Inc.’s iPhone 5, is poised to drive up rates for shipping by plane, benefiting companies from FedEx Corp. to Atlas Air Worldwide Holdings Inc.
CSX Corp.’s container cargoes have increased about 10 percent for two straight quarters as eastern U.S. railroads invest billions in a business that threatens the trucking industry’s most lucrative shipments.
United Parcel Service Inc. is nearing an agreement to buy TNT Express NV, Europe’s second- largest package-delivery company, after an initial 4.9 billion euro ($6.5 billion) offer was rejected, people familiar with the matter said.